12th Feb 2026 18:10
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: | 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 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 | 1,511,479 | 12.4400 GBP | 12.2900 GBP |
| Sale | 839,846 | 12.4400 GBP | 12.2800 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 | 212 27,280 6,977 21,992
107 1,412 9,521 5,832 882 16 2,498 5,447 2,186 942 1,193 10,714 63,950 706 3,158 12,761 11,635 15,000 22,263 67 30 11,958 2,419 6,000 390 5,067 9,440 419 54 419
683 1,379 1,040 1,165 200 27
84,962 251 35,160 15,382 3,265 366 10,000 12,894 5,000 1,178 17,237 4,852 7,382 38,000 21,236 234,317 24 801 58,485 1,980 256 926 9,733 26 253,000 22,484
19,945 767 13,435 93,944 31,034 17,597
151,281 337 10,683 986 | 12.2906 GBP 12.2929 GBP 12.3003 GBP 12.3004 GBP
12.2888 GBP 12.2900 GBP 12.2902 GBP 12.2929 GBP 12.2959 GBP 12.2988 GBP 12.3039 GBP 12.3058 GBP 12.3140 GBP 12.3184 GBP 12.3243 GBP 12.3332 GBP 12.3341 GBP 12.3400 GBP 12.3485 GBP 12.3535 GBP 12.3580 GBP 12.3691 GBP 12.3728 GBP 12.3781 GBP 12.3800 GBP 12.3833 GBP 12.3841 GBP 12.3897 GBP 12.3913 GBP 12.3940 GBP 12.3948 GBP 12.3991 GBP 12.4005 GBP 12.4391 GBP
12.2875 GBP 12.2955 GBP 12.2972 GBP 12.3337 GBP 12.3700 GBP 12.4111 GBP
12.2900 GBP 12.2902 GBP 12.2920 GBP 12.2979 GBP 12.3074 GBP 12.3300 GBP 12.3325 GBP 12.3332 GBP 12.3500 GBP 12.3590 GBP 12.3620 GBP 12.3623 GBP 12.3624 GBP 12.3662 GBP 12.3685 GBP 12.3697 GBP 12.3803 GBP 12.3808 GBP 12.3887 GBP 12.3912 GBP 12.3924 GBP 12.3942 GBP 12.3986 GBP 12.4031 GBP 12.4087 GBP 12.4124 GBP
12.2900 GBP 12.3129 GBP 12.3599 GBP 12.3741 GBP 12.3892 GBP 12.3993 GBP
12.2900 GBP 12.3004 GBP 12.3007 GBP 12.4004 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) |
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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
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(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
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| Date of disclosure: | 12 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