16th Jul 2025 07:00
Amendment - due to the amendment of Equity and Derivative transactions, the disclosure made on 10th June for dealings on 9th June has been updated. Section 2(a) and 2(b) has been updated.
FORM 8.5 (EPT/RI)
PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Name of exempt principal trader: | (GS) GOLDMAN SACHS INTERNATIONAL |
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | ALPHAWAVE IP GROUP PLC |
(c) Name of the party to the offer with which exempt principal trader is connected: | ALPHAWAVE IP GROUP PLC |
(d) Date dealing undertaken: | 09 June 2025 |
(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? If it is a cash offer or possible cash offer, state "N/A" | NO |
2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
Class of relevant security | Purchases/ sales
| Total number of securities | Highest price per unit paid/received | Lowest price per unit paid/received |
1p ordinary | Purchases | 33,219,0261,400,411 | 3.2641 GBP2.4814 USD | 1.7740 GBP2.4312 USD |
1p ordinary | Sales | 19,221,72614,295,571 | 1.8735 GBP2.5055 USD | 1.7740 GBP2.4050 USD |
Class of relevant security | Purchases/ sales
| Total number of securities | Highest price per unit paid/received | Lowest price per unit paid/received |
Senior unsecured convertible bond | Purchases | 2,000,000 | 154.0000 USD | 154.0000 USD |
(b) Cash-settled derivative transactions
Class of relevant security | Product description e.g. CFD | Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position | Number of reference securities | Price per unit |
1p ordinary | CFD | Increasing a long position | 8,684 | 1.7738 GBP |
1p ordinary | CFD | Increasing a long position | 104,406 | 1.7740 GBP |
1p ordinary | CFD | Opening a long position | 39,049 | 1.7740 GBP |
1p ordinary | CFD | Reducing a long position | 268,146 | 1.7744 GBP |
1p ordinary | CFD | Reducing a long position | 894,402 | 1.7744 GBP |
1p ordinary | CFD | Increasing a short position | 11,600 | 1.7749 GBP |
1p ordinary | CFD | Reducing a long position | 2,035 | 1.7796 GBP |
1p ordinary | CFD | Reducing a long position | 2,078 | 1.7796 GBP |
1p ordinary | CFD | Reducing a short position | 203,020 | 1.7857 GBP |
1p ordinary | CFD | Reducing a long position | 1,637 | 1.7889 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.7974 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8004 GBP |
1p ordinary | CFD | Increasing a short position | 11,600 | 1.8009 GBP |
1p ordinary | CFD | Reducing a long position | 612 | 1.8010 GBP |
1p ordinary | CFD | Reducing a long position | 598 | 1.8010 GBP |
1p ordinary | CFD | Opening a short position | 103,075 | 1.8013 GBP |
1p ordinary | CFD | Increasing a short position | 11,600 | 1.8054 GBP |
1p ordinary | CFD | Reducing a short position | 2,666 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 456 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 2,307 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 1,236 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 30,721 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 262,679 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 7,610 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 8,200 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 36,064 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 5,896 | 1.8069 GBP |
1p ordinary | CFD | Reducing a short position | 32,147 | 1.8069 GBP |
1p ordinary | CFD | Reducing a long position | 8,896 | 1.8070 GBP |
1p ordinary | CFD | Reducing a short position | 136,564 | 1.8079 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8096 GBP |
1p ordinary | CFD | Reducing a short position | 2,153 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 64,942 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 58,318 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 498,636 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 1,938 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 142 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 15,992 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 4,800 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 14,768 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 1,153 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 71,641 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 446 | 1.8102 GBP |
1p ordinary | CFD | Reducing a short position | 5,365 | 1.8102 GBP |
1p ordinary | CFD | Reducing a long position | 56,264 | 1.8114 GBP |
1p ordinary | CFD | Reducing a long position | 349,833 | 1.8148 GBP |
1p ordinary | CFD | Reducing a long position | 35,801 | 1.8148 GBP |
1p ordinary | CFD | Increasing a short position | 2,900 | 1.8204 GBP |
1p ordinary | CFD | Reducing a short position | 318,650 | 1.8205 GBP |
1p ordinary | CFD | Increasing a short position | 11,600 | 1.8221 GBP |
1p ordinary | CFD | Reducing a long position | 617 | 1.8227 GBP |
1p ordinary | CFD | Reducing a long position | 605 | 1.8227 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8246 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8264 GBP |
1p ordinary | CFD | Increasing a short position | 2,900 | 1.8274 GBP |
1p ordinary | CFD | Reducing a long position | 366,355 | 1.8298 GBP |
1p ordinary | CFD | Reducing a long position | 316,601 | 1.8298 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8304 GBP |
1p ordinary | CFD | Increasing a short position | 11,600 | 1.8304 GBP |
1p ordinary | CFD | Increasing a long position | 120,000 | 1.8320 GBP |
1p ordinary | CFD | Increasing a long position | 400,000 | 1.8320 GBP |
1p ordinary | CFD | Increasing a long position | 180,000 | 1.8320 GBP |
1p ordinary | CFD | Opening a short position | 300,000 | 1.8333 GBP |
1p ordinary | CFD | Reducing a long position | 707,766 | 1.8377 GBP |
1p ordinary | CFD | Reducing a long position | 611,644 | 1.8377 GBP |
1p ordinary | CFD | Reducing a long position | 670,940 | 1.8385 GBP |
1p ordinary | CFD | Reducing a long position | 151,538 | 1.8385 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8404 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8404 GBP |
1p ordinary | CFD | Reducing a short position | 166,108 | 1.8407 GBP |
1p ordinary | CFD | Reducing a long position | 1,966,665 | 1.8414 GBP |
1p ordinary | CFD | Reducing a long position | 444,190 | 1.8414 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8419 GBP |
1p ordinary | CFD | Reducing a long position | 815,754 | 1.8438 GBP |
1p ordinary | CFD | Reducing a long position | 184,246 | 1.8438 GBP |
1p ordinary | CFD | Increasing a short position | 11,600 | 1.8453 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8464 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8465 GBP |
1p ordinary | CFD | Reducing a long position | 323,863 | 1.8482 GBP |
1p ordinary | CFD | Reducing a short position | 300,000 | 1.8521 GBP |
1p ordinary | CFD | Increasing a long position | 75,000 | 1.8530 GBP |
1p ordinary | CFD | Increasing a long position | 75,000 | 1.8530 GBP |
1p ordinary | CFD | Increasing a short position | 498,541 | 1.8562 GBP |
1p ordinary | CFD | Increasing a short position | 17,400 | 1.8587 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8590 GBP |
1p ordinary | CFD | Increasing a short position | 300,000 | 1.8613 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8654 GBP |
1p ordinary | CFD | Increasing a short position | 5,800 | 1.8689 GBP |
1p ordinary | CFD | Opening a short position | 58,160 | 2.4312 USD |
1p ordinary | CFD | Reducing a short position | 183,797 | 2.4318 USD |
1p ordinary | CFD | Reducing a short position | 7,124,620 | 2.4318 USD |
1p ordinary | CFD | Opening a short position | 252,664 | 2.4538 USD |
1p ordinary | CFD | Opening a short position | 587,336 | 2.4538 USD |
1p ordinary | CFD | Opening a long position | 24,922 | 2.4821 USD |
1p ordinary | CFD | Opening a long position | 216,788 | 2.4821 USD |
1p ordinary | CFD | Increasing a long position | 8,290 | 2.4821 USD |
1p ordinary | CFD | Increasing a long position | 24,922 | 2.5082 USD |
1p ordinary | CFD | Increasing a long position | 216,788 | 2.5082 USD |
1p ordinary | CFD | Increasing a long position | 8,290 | 2.5082 USD |
1p ordinary | CFD | Increasing a long position | 10,000 | 2.5108 USD |
1p ordinary | CFD | Increasing a long position | 87,000 | 2.5108 USD |
1p ordinary | CFD | Increasing a long position | 3,000 | 2.5108 USD |
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of relevant security | Product description e.g. call option | Writing, purchasing, selling, varying etc. | Number of securities to which option relates | Exercise price per unit | Type e.g. American, European etc. | Expiry date | Option money paid/ received per unit |
1p ordinary | Call Option | Purchasing | 102,429 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 1,385,729 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 102,429 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 315,107 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 1,576,769 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 211,920 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 1,576,769 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 1,385,729 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 211,920 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Purchasing | 315,107 | 1.5000 GBP | AMERICAN | 18/07/2025 | 0.3200 GBP |
1p ordinary | Call Option | Selling | 1,576,769 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 102,429 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 315,107 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 211,920 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 315,107 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 211,920 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 1,576,769 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 102,429 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 1,385,729 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Call Option | Selling | 1,385,729 | 1.7000 GBP | AMERICAN | 18/07/2025 | 0.1300 GBP |
1p ordinary | Put Option | Selling | 1,576,769 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 1,385,729 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 211,920 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 1,576,769 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 102,429 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 315,107 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 211,920 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 315,107 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 102,429 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
1p ordinary | Put Option | Selling | 1,385,729 | 1.1000 GBP | AMERICAN | 18/07/2025 | 0.0100 GBP |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising / exercised against | Number of securities | Exercise price per unit |
(d) Other dealings (including subscribing for new securities)
Class of relevant security | Nature of dealing e.g. subscription, conversion | Details | Price per unit (if applicable) |
|
3. OTHER INFORMATION
(a) Indemnity and other dealing 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: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" |
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 or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" |
NONE
|
| Date of disclosure: | 16 July 2025 |
| Contact name: | Papa Lette and Andrzej Szyszka |
| Telephone number: | +33(1) 4212 1459 / +48(22) 317 4817 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
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Alphawave Ip