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: | 11 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 | 1,684,200 | 12.3600 GBP | 12.2069 GBP |
| Sale | 781,118 | 12.3500 GBP | 12.1400 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 | 102 1,646 174 3,418 486 12,490 13,726
6,000 23 327 18,754 11 281 4,019 3,497 23,910 2,176 3,419 23,686 2,612 1,579 1,646 1,908 2,577 2,221 1,867 47,700 129 892 7,200 24 379 11
24 13,519 1,600 12,633 291 737
59,727 5,000 108,374 867 100,800 189,666 11 62,454 14,663 34,712 3,011 60,000 625 16,697 8,815 43,056 14,222 18,388 416 3,438 5,568 1,331 13,742 25,078 244 116,571 50,000
835 1,556 2,067 8,942 8,240 37,095 12,371 294
502 1,188 37,500 1,757 1 14,877 14,877 67,495 458 | 12.2456 GBP 12.2625 GBP 12.2700 GBP 12.2701 GBP 12.2706 GBP 12.2712 GBP 12.2820 GBP
12.2073 GBP 12.2100 GBP 12.2146 GBP 12.2188 GBP 12.2298 GBP 12.2314 GBP 12.2443 GBP 12.2506 GBP 12.2511 GBP 12.2532 GBP 12.2618 GBP 12.2621 GBP 12.2633 GBP 12.2650 GBP 12.2698 GBP 12.2700 GBP 12.2717 GBP 12.2730 GBP 12.2739 GBP 12.2747 GBP 12.2773 GBP 12.3000 GBP 12.3030 GBP 12.3122 GBP 12.3159 GBP 12.3300 GBP
12.2438 GBP 12.2665 GBP 12.2669 GBP 12.2683 GBP 12.2700 GBP 12.2841 GBP
12.2069 GBP 12.2080 GBP 12.2085 GBP 12.2146 GBP 12.2198 GBP 12.2255 GBP 12.2302 GBP 12.2342 GBP 12.2400 GBP 12.2406 GBP 12.2500 GBP 12.2590 GBP 12.2600 GBP 12.2632 GBP 12.2639 GBP 12.2652 GBP 12.2675 GBP 12.2700 GBP 12.2702 GBP 12.2705 GBP 12.2709 GBP 12.2712 GBP 12.2733 GBP 12.2753 GBP 12.2762 GBP 12.2804 GBP 12.3006 GBP
12.2206 GBP 12.2394 GBP 12.2396 GBP 12.2655 GBP 12.2693 GBP 12.2700 GBP 12.2790 GBP 12.2846 GBP
12.2276 GBP 12.2301 GBP 12.2393 GBP 12.2587 GBP 12.2601 GBP 12.2606 GBP 12.2608 GBP 12.2700 GBP 12.3304 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
|
| 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