11th Feb 2026 14:46
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 | BEAZLEY PLC |
(c) Name of the party to the offer with which exempt principal trader is connected: | ZURICH INSURANCE GROUP LTD |
(d) Date dealing undertaken: | 10 February 2026 |
(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" | N/A |
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 |
5p ordinary | Purchases | 1,909,928 | 12.4100 GBP | 12.2900 GBP |
5p ordinary | Sales | 2,949,419 | 12.4100 GBP | 12.2898 GBP |
(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 |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.2875 GBP |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.2875 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.2875 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.2875 GBP |
5p ordinary | CFD | Reducing a short position | 90 | 12.2881 GBP |
5p ordinary | CFD | Reducing a short position | 559 | 12.2888 GBP |
5p ordinary | CFD | Reducing a short position | 441 | 12.2898 GBP |
5p ordinary | CFD | Reducing a short position | 129 | 12.2898 GBP |
5p ordinary | CFD | Increasing a short position | 11,135 | 12.2902 GBP |
5p ordinary | CFD | Increasing a short position | 4,052 | 12.2902 GBP |
5p ordinary | CFD | Increasing a short position | 29,110 | 12.2908 GBP |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.2920 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.2920 GBP |
5p ordinary | CFD | Opening a short position | 284 | 12.3001 GBP |
5p ordinary | CFD | Reducing a short position | 14 | 12.3008 GBP |
5p ordinary | CFD | Increasing a short position | 6,250 | 12.3012 GBP |
5p ordinary | CFD | Increasing a short position | 138 | 12.3016 GBP |
5p ordinary | CFD | Increasing a short position | 123 | 12.3025 GBP |
5p ordinary | CFD | Opening a short position | 87,381 | 12.3062 GBP |
5p ordinary | CFD | Increasing a short position | 11,872 | 12.3098 GBP |
5p ordinary | CFD | Opening a long position | 3,001 | 12.3100 GBP |
5p ordinary | CFD | Opening a long position | 15,521 | 12.3100 GBP |
5p ordinary | CFD | Opening a long position | 5,631 | 12.3100 GBP |
5p ordinary | CFD | Opening a long position | 7,874 | 12.3100 GBP |
5p ordinary | CFD | Opening a long position | 145,147 | 12.3100 GBP |
5p ordinary | CFD | Opening a long position | 1,444 | 12.3100 GBP |
5p ordinary | CFD | Opening a long position | 8,111 | 12.3100 GBP |
5p ordinary | CFD | Increasing a short position | 97,500 | 12.3180 GBP |
5p ordinary | CFD | Reducing a short position | 5,324 | 12.3188 GBP |
5p ordinary | CFD | Increasing a short position | 108 | 12.3213 GBP |
5p ordinary | CFD | Reducing a long position | 7,874 | 12.3223 GBP |
5p ordinary | CFD | Reducing a long position | 8,111 | 12.3223 GBP |
5p ordinary | CFD | Reducing a long position | 3,001 | 12.3223 GBP |
5p ordinary | CFD | Reducing a long position | 5,631 | 12.3223 GBP |
5p ordinary | CFD | Reducing a long position | 1,444 | 12.3223 GBP |
5p ordinary | CFD | Reducing a long position | 15,521 | 12.3223 GBP |
5p ordinary | CFD | Reducing a long position | 145,147 | 12.3223 GBP |
5p ordinary | CFD | Increasing a short position | 47,488 | 12.3224 GBP |
5p ordinary | CFD | Reducing a long position | 5,029 | 12.3228 GBP |
5p ordinary | CFD | Increasing a short position | 6,427 | 12.3277 GBP |
5p ordinary | CFD | Reducing a long position | 29,308 | 12.3311 GBP |
5p ordinary | CFD | Reducing a long position | 85,108 | 12.3311 GBP |
5p ordinary | CFD | Reducing a short position | 2,651 | 12.3317 GBP |
5p ordinary | CFD | Reducing a short position | 1,617 | 12.3344 GBP |
5p ordinary | CFD | Increasing a short position | 173 | 12.3355 GBP |
5p ordinary | CFD | Increasing a short position | 18,428 | 12.3362 GBP |
5p ordinary | CFD | Opening a short position | 1,902 | 12.3389 GBP |
5p ordinary | CFD | Increasing a short position | 937 | 12.3425 GBP |
5p ordinary | CFD | Increasing a short position | 2,500 | 12.3425 GBP |
5p ordinary | CFD | Opening a short position | 47,488 | 12.3493 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 12.3499 GBP |
5p ordinary | CFD | Increasing a short position | 36,249 | 12.3562 GBP |
5p ordinary | CFD | Increasing a short position | 75,000 | 12.3586 GBP |
5p ordinary | CFD | Reducing a short position | 13,844 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 2,466 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 6,711 | 12.3677 GBP |
5p ordinary | CFD | Reducing a short position | 2,555 | 12.3677 GBP |
5p ordinary | CFD | Reducing a short position | 4,799 | 12.3677 GBP |
5p ordinary | CFD | Reducing a short position | 2,466 | 12.3677 GBP |
5p ordinary | CFD | Reducing a short position | 6,711 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 4,799 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 13,226 | 12.3677 GBP |
5p ordinary | CFD | Reducing a short position | 247,396 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 247,396 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 2,555 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 13,844 | 12.3677 GBP |
5p ordinary | CFD | Reducing a short position | 13,226 | 12.3677 GBP |
5p ordinary | CFD | Opening a short position | 1,246 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 1,246 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 1,246 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 1,246 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 1,782 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 1,782 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 1,782 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 2,636 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 2,636 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 2,636 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 1,782 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 2,636 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 206 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 206 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 206 | 12.3685 GBP |
5p ordinary | CFD | Opening a short position | 206 | 12.3685 GBP |
5p ordinary | CFD | Reducing a short position | 180 | 12.3698 GBP |
5p ordinary | CFD | Reducing a short position | 249 | 12.3708 GBP |
5p ordinary | CFD | Increasing a short position | 20,512 | 12.3737 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 12.3799 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 12.3849 GBP |
5p ordinary | CFD | Increasing a short position | 75,000 | 12.3887 GBP |
5p ordinary | CFD | Increasing a short position | 1,875 | 12.3925 GBP |
5p ordinary | CFD | Increasing a short position | 5,000 | 12.3925 GBP |
5p ordinary | CFD | Reducing a short position | 2,614 | 12.3939 GBP |
5p ordinary | CFD | Increasing a short position | 110 | 12.3951 GBP |
5p ordinary | CFD | Increasing a short position | 12,500 | 12.4062 GBP |
5p ordinary | CFD | Reducing a short position | 163 | 12.4087 GBP |
5p ordinary | CFD | Reducing a short position | 1 | 12.4088 GBP |
5p ordinary | CFD | Reducing a short position | 108 | 12.4099 GBP |
5p ordinary | CFD | Increasing a short position | 526 | 12.4115 GBP |
5p ordinary | CFD | Opening a short position | 1,844 | 12.4166 GBP |
5p ordinary | CFD | Increasing a short position | 3,920 | 12.4166 GBP |
5p ordinary | CFD | Opening a short position | 1,248 | 12.4166 GBP |
5p ordinary | CFD | Opening a short position | 872 | 12.4166 GBP |
5p ordinary | CFD | Increasing a short position | 865 | 12.4166 GBP |
5p ordinary | CFD | Opening a short position | 144 | 12.4166 GBP |
5p ordinary | CFD | Reducing a short position | 136,158 | 12.4213 GBP |
5p ordinary | CFD | Increasing a short position | 3,001 | 16.8261 USD |
5p ordinary | CFD | Increasing a short position | 145,147 | 16.8261 USD |
5p ordinary | CFD | Increasing a short position | 5,631 | 16.8261 USD |
5p ordinary | CFD | Increasing a short position | 15,521 | 16.8261 USD |
5p ordinary | CFD | Increasing a short position | 8,111 | 16.8261 USD |
5p ordinary | CFD | Increasing a short position | 7,874 | 16.8261 USD |
5p ordinary | CFD | Increasing a short position | 1,444 | 16.8261 USD |
5p ordinary | CFD | Increasing a short position | 2,555 | 16.8880 USD |
5p ordinary | CFD | Increasing a short position | 247,396 | 16.8880 USD |
5p ordinary | CFD | Increasing a short position | 4,799 | 16.8880 USD |
5p ordinary | CFD | Increasing a short position | 13,226 | 16.8880 USD |
5p ordinary | CFD | Increasing a short position | 13,844 | 16.8880 USD |
5p ordinary | CFD | Increasing a short position | 6,711 | 16.8880 USD |
5p ordinary | CFD | Increasing a short position | 2,466 | 16.8880 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 |
(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: | 11 February 2026 |
| 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.
Related Shares:
Beazley