17th Feb 2026 15:57
AMENDMENT
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: | J.P. Morgan Securities Plc |
(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: | Corporate Broker and Financial Adviser to Beazley Plc |
(d) Date dealing undertaken: | 13 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 this 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 | Purchase | 3,037,301 | 12.4600 GBP | 12.2950 GBP |
| Sale | 2,653,828 | 12.4501 GBP | 12.3000 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 | Equity Swap | Decrease Long
Decrease Short
Increase Long
Increase Short
Opening a long position
Opening a short position | 69 23 33,740 2,620 119,120 69 73 38,739 43
8,803 147 115,117 6,136 23 23,410 1 2,148 33 3,152 681 4,905 5,267 610 22,433 1,286 1,779 23,033 3,507 4,400 2,561 2,020 19,724 1,966
31,035 163 400
4,423 1,348 229 10,646 1,586 2,500 13 17,220 757 2,257 1,062 5,269 1 290 1,286 5,849 93,677 258,540 2,184 29,549
7,548 127 16,077
23,501 251 | 12.3006 GBP 12.3087 GBP 12.3088 GBP 12.3105 GBP 12.3131 GBP 12.3380 GBP 12.3548 GBP 12.3552 GBP 12.3592 GBP
12.3000 GBP 12.3098 GBP 12.3138 GBP 12.3139 GBP 12.3151 GBP 12.3311 GBP 12.3338 GBP 12.3390 GBP 12.3400 GBP 12.3407 GBP 12.3444 GBP 12.3448 GBP 12.3487 GBP 12.3503 GBP 12.3677 GBP 12.3748 GBP 12.3850 GBP 12.3884 GBP 12.3995 GBP 12.4074 GBP 12.4078 GBP 12.4095 GBP 12.4461 GBP 12.4501 GBP
12.3062 GBP 12.3188 GBP 12.4075 GBP
12.3000 GBP 12.3002 GBP 12.3029 GBP 12.3087 GBP 12.3166 GBP 12.3250 GBP 12.3369 GBP 12.3386 GBP 12.3429 GBP 12.3539 GBP 12.3595 GBP 12.3657 GBP 12.3700 GBP 12.3738 GBP 12.3753 GBP 12.3770 GBP 12.3985 GBP 12.4087 GBP 12.4265 GBP 12.4353 GBP
12.3000 GBP 12.3416 GBP 12.3482 GBP
12.3000 GBP 12.3551 GBP |
(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: | 17 February 2026 |
| Contact name: | Hetvi Shah |
| Telephone number: | 44 2034 936359 |
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 dealing 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