Form 8.5 (EPT/NON-RI) BELLWAY PLC

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS

(OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Name of exempt principal trader:

BARCLAYS CAPITAL SECURITIES LTD

(b)

Name of offeror/offeree in relation to whose relevant securities this form relates:

BELLWAY PLC

(c)

Name of the party to the offer with which exempt principal trader is connected

CREST NICHOLSON HOLDINGS PLC

(d)

Date position held/dealing undertaken:

16 Jul 2024

(e)

In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer?

YES: CREST NICHOLSON HOLDINGS PLC

2.

POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a)

Interests and short positions in the relevant securities of the offeror or offeree

to which the disclosure relates following the dealing (if any)

Class of relevant security:

12.5p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,065,958

0.90%

210,096

0.18%

(2) Cash-settled derivatives:

158,527

0.13%

998,502

0.84%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 

0

0.00%

0

0.00%

TOTAL: 

1,224,485

1.03%

1,208,598

1.02%

(b)

Rights to subscribe for new securities (including directors and other executive options)

Class of relevant security in relation to which subscription right exists

Details, including nature of the rights concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchase and sales

Class of relevant security

Purchase/sale

Total number of securities

Highest price per unit paid/received

Lowest price per unit paid/received

12.5p ordinary

Purchase

92525

27.3002 GBP

26.6550 GBP

12.5p ordinary

Sale

104955

27.3013 GBP

26.7300 GBP

(b)

Cash-settled derivative transactions

Class of relevant security

Product description

Nature of dealing

Number of reference securities

Price per unit

12.5p ordinary

CFD

Decreasing Short

90

26.8992 GBP

12.5p ordinary

CFD

Decreasing Short

2,121

27.0370 GBP

12.5p ordinary

CFD

Decreasing Short

379

27.1611 GBP

12.5p ordinary

CFD

Decreasing Short

121

27.2975 GBP

12.5p ordinary

CFD

Decreasing Short

5,904

27.2978 GBP

12.5p ordinary

CFD

Decreasing Short

2,555

27.3000 GBP

12.5p ordinary

CFD

Increasing Short

1,652

26.6550 GBP

12.5p ordinary

SWAP

Increasing Short

463

27.0275 GBP

12.5p ordinary

SWAP

Opening Long

1,659

27.3000 GBP

12.5p ordinary

SWAP

Closing Long

627

27.3013 GBP

12.5p ordinary

SWAP

Decreasing Short

130

26.8400 GBP

12.5p ordinary

SWAP

Decreasing Short

5,895

26.9124 GBP

12.5p ordinary

SWAP

Decreasing Short

150

26.9400 GBP

12.5p ordinary

SWAP

Decreasing Short

1,663

26.9487 GBP

12.5p ordinary

SWAP

Decreasing Short

799

27.2509 GBP

12.5p ordinary

SWAP

Decreasing Short

197

27.3000 GBP

12.5p ordinary

SWAP

Increasing Short

1

26.5400 GBP

12.5p ordinary

SWAP

Increasing Short

1,412

27.0344 GBP

12.5p ordinary

SWAP

Increasing Long

197

26.7816 GBP

12.5p ordinary

SWAP

Increasing Long

147

26.7961 GBP

12.5p ordinary

SWAP

Increasing Long

24

26.8256 GBP

12.5p ordinary

SWAP

Increasing Long

27

26.8272 GBP

12.5p ordinary

SWAP

Increasing Long

31

26.8494 GBP

12.5p ordinary

SWAP

Increasing Long

107

26.8638 GBP

12.5p ordinary

SWAP

Increasing Long

881

26.8653 GBP

12.5p ordinary

SWAP

Increasing Long

1,888

27.1220 GBP

12.5p ordinary

SWAP

Decreasing Long

492

27.0540 GBP

12.5p ordinary

SWAP

Decreasing Long

1,513

27.0580 GBP

12.5p ordinary

SWAP

Decreasing Long

423

27.0648 GBP

12.5p ordinary

SWAP

Decreasing Long

1,780

27.0771 GBP

12.5p ordinary

SWAP

Decreasing Long

56

27.1002 GBP

12.5p ordinary

SWAP

Decreasing Long

310

27.1340 GBP

12.5p ordinary

SWAP

Decreasing Long

87

27.1411 GBP

12.5p ordinary

SWAP

Decreasing Long

1,222

27.1564 GBP

12.5p ordinary

SWAP

Decreasing Long

2,926

27.3002 GBP

12.5p ordinary

SWAP

Increasing Long

346

27.2190 GBP

12.5p ordinary

SWAP

Increasing Long

276

27.2219 GBP

12.5p ordinary

SWAP

Decreasing Short

876

27.1772 GBP

12.5p ordinary

SWAP

Increasing Short

356

27.2074 GBP

12.5p ordinary

SWAP

Decreasing Short

178

26.8000 GBP

12.5p ordinary

SWAP

Decreasing Short

222

26.8455 GBP

12.5p ordinary

SWAP

Decreasing Short

179

27.3000 GBP

12.5p ordinary

SWAP

Increasing Short

1,856

26.9399 GBP

12.5p ordinary

SWAP

Increasing Short

1,227

26.9758 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description

Writing, purchasing, selling, varying etc

Number of securities to which option relates

Exercise price per unit

Type

Expiry date

Option money paid/ received per unit

(ii)

Exercising

Class of relevant security

Product description

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of Dealings

Details

Price per unit (if applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights of future acquisition or disposal of any relevant securities to which any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

17 Jul 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213