26th Feb 2026 17:52
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: | 24 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 | 1,198,294 | 12.2806 GBP | 12.1873 GBP |
| Sale | 954,141 | 12.2800 GBP | 12.1900 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 | 100 72,117 11,136 1,873 2,411 415
15,185 17,158 688 911 1,694 1,062 701 6,190 2,730 11,230 22,526 3,850 34,430 864 13,250 4,636 2 2,046 142 34 74 906 6,936 2,060 691 2,933
4,300 18,300 13 26,251
1,899 4,217 13,523 24,983 24,983 3,883 40 2,930 10,000 34 46,600 7 236,451 280
12,444 1,626 2,354
348 8,919 7,157 | 12.2200 GBP 12.2435 GBP 12.2438 GBP 12.2512 GBP 12.2572 GBP 12.2806 GBP
12.1991 GBP 12.2069 GBP 12.2086 GBP 12.2100 GBP 12.2136 GBP 12.2150 GBP 12.2176 GBP 12.2182 GBP 12.2267 GBP 12.2300 GBP 12.2308 GBP 12.2361 GBP 12.2399 GBP 12.2474 GBP 12.2480 GBP 12.2490 GBP 12.2525 GBP 12.2537 GBP 12.2540 GBP 12.2580 GBP 12.2600 GBP 12.2718 GBP 12.2746 GBP 12.2763 GBP 12.2788 GBP 12.2800 GBP
12.2020 GBP 12.2296 GBP 12.2385 GBP 12.2750 GBP
12.1873 GBP 12.2216 GBP 12.2236 GBP 12.2272 GBP 12.2333 GBP 12.2348 GBP 12.2400 GBP 12.2448 GBP 12.2494 GBP 12.2585 GBP 12.2612 GBP 12.2643 GBP 12.2800 GBP 12.2802 GBP
12.2264 GBP 12.2394 GBP 12.2539 GBP
12.2104 GBP 12.2153 GBP 12.2800 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: | 26 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