19th Feb 2026 16:17
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: | 16 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 | 1,076,170 | 12.3200 GBP | 12.1700 GBP |
| Sale | 327,649 | 12.3385 GBP | 12.1700 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 | 4,028 | 12.2006 GBP |
41,406 | 12.2065 GBP | |||
600 | 12.2233 GBP | |||
596 | 12.2506 GBP | |||
57 | 12.2612 GBP | |||
62 | 12.2668 GBP | |||
Decrease Short | 2,174 | 12.1929 GBP | ||
545 | 12.1995 GBP | |||
670 | 12.1998 GBP | |||
2,599 | 12.2000 GBP | |||
3,639 | 12.2012 GBP | |||
486 | 12.2015 GBP | |||
7,813 | 12.2021 GBP | |||
4,693 | 12.2026 GBP | |||
4,817 | 12.2039 GBP | |||
6,323 | 12.2076 GBP | |||
31,174 | 12.2088 GBP | |||
1,683 | 12.2122 GBP | |||
28,908 | 12.2150 GBP | |||
11,276 | 12.2181 GBP | |||
275 | 12.2248 GBP | |||
2,236 | 12.2249 GBP | |||
3,601 | 12.2250 GBP | |||
19,310 | 12.2296 GBP | |||
5,436 | 12.2298 GBP | |||
5 | 12.2348 GBP | |||
524 | 12.2505 GBP | |||
16,012 | 12.2523 GBP | |||
1,348 | 12.2544 GBP | |||
2,335 | 12.2711 GBP | |||
2,300 | 12.2791 GBP | |||
Increase Long | 1,443 | 12.2300 GBP | ||
Increase Short | 2,200 | 12.1923 GBP | ||
14,845 | 12.1990 GBP | |||
885 | 12.2000 GBP | |||
36,959 | 12.2002 GBP | |||
2,564 | 12.2012 GBP | |||
14,995 | 12.2021 GBP | |||
105 | 12.2043 GBP | |||
1,035 | 12.2059 GBP | |||
16,942 | 12.2070 GBP | |||
2,534 | 12.2103 GBP | |||
356 | 12.2200 GBP | |||
275 | 12.2252 GBP | |||
22,694 | 12.2253 GBP | |||
494 | 12.2303 GBP | |||
3,322 | 12.2314 GBP | |||
1,822 | 12.2447 GBP | |||
5,790 | 12.2488 GBP | |||
1,379 | 12.2524 GBP | |||
1,837 | 12.2584 GBP | |||
429,782 | 12.2598 GBP | |||
6,004 | 12.2641 GBP | |||
91 | 12.2731 GBP | |||
5,586 | 12.2754 GBP | |||
449 | 12.2822 GBP | |||
275,779 | 12.3062 GBP | |||
Opening a long position | 36,882 | 12.2000 GBP | ||
2,024 | 12.2103 GBP | |||
49,094 | 12.2190 GBP | |||
11,365 | 12.2356 GBP | |||
3,849 | 12.2608 GBP | |||
491 | 12.2799 GBP | |||
Opening a short position | 44,742 | 12.2000 GBP | ||
10,990 | 12.2128 GBP | |||
9,869 | 12.2304 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: | 19 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