20th Mar 2026 15:54
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: | 02 March 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 | 13,949,867 | 12.9202 GBP | 12.2000 GBP |
| Sale | 7,572,511 | 12.9200 GBP | 12.2000 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 | 1,700 | 12.3765 GBP |
12,892 | 12.5431 GBP | |||
64 | 12.5706 GBP | |||
2,259 | 12.7754 GBP | |||
38 1,841,071
| 12.9113 GBP 12.5000 GBP
| |||
Decrease Short | 20 | 12.2300 GBP | ||
2,500 | 12.2982 GBP | |||
179 | 12.3383 GBP | |||
7,455 | 12.3449 GBP | |||
1 | 12.3450 GBP | |||
8,461 | 12.3482 GBP | |||
29 | 12.3600 GBP | |||
16,808 | 12.3625 GBP | |||
9 | 12.3698 GBP | |||
8,456 | 12.3733 GBP | |||
2,400 | 12.3762 GBP | |||
17 | 12.3800 GBP | |||
1,284 | 12.3806 GBP | |||
3,962 | 12.3831 GBP | |||
21 | 12.3840 GBP | |||
2,411 | 12.3894 GBP | |||
149 | 12.3961 GBP | |||
2,929 | 12.3979 GBP | |||
58,051 | 12.4086 GBP | |||
11,786 | 12.4087 GBP | |||
25,000 | 12.4486 GBP | |||
2,239 | 12.4641 GBP | |||
3,714 | 12.4786 GBP | |||
301,302 | 12.5335 GBP | |||
5,936 | 12.5364 GBP | |||
3,867 | 12.6015 GBP | |||
32,792 | 12.6273 GBP | |||
1,039 | 12.6339 GBP | |||
8,690 | 12.6516 GBP | |||
2,071 | 12.6862 GBP | |||
33,798 | 12.7098 GBP | |||
1,235 | 12.7243 GBP | |||
6,863 | 12.7523 GBP | |||
7,125 | 12.7532 GBP | |||
11,321 | 12.8065 GBP | |||
34,758 | 12.8700 GBP | |||
424,928 | 12.8910 GBP | |||
64,036 | 12.8960 GBP | |||
156,334 | 12.8981 GBP | |||
10,000 | 12.9010 GBP | |||
181 | 12.9031 GBP | |||
375,753 | 12.9061 GBP | |||
40,000 | 12.9081 GBP | |||
57,878 | 12.9083 GBP | |||
1,510 | 12.9086 GBP | |||
769 | 12.9087 GBP | |||
70,405 | 12.9089 GBP | |||
5,950 | 12.9095 GBP | |||
3,992 | 12.9097 GBP | |||
448,165 | 12.9100 GBP | |||
13,586 | 12.9101 GBP | |||
8,411 | 12.9102 GBP | |||
472 | 12.9119 GBP | |||
1,375 | 12.9197 GBP | |||
939 | 12.9200 GBP | |||
Increase Long | 39 | 12.3420 GBP | ||
2,000 | 12.3971 GBP | |||
3,300 | 12.7331 GBP | |||
1,665 | 12.7482 GBP | |||
1,100 | 12.8918 GBP | |||
83,843 | 12.9092 GBP | |||
Increase Short | 124,000 | 12.2981 GBP | ||
7,633 | 12.3296 GBP | |||
3,152 | 12.3407 GBP | |||
124,956 | 12.3439 GBP | |||
5 | 12.3460 GBP | |||
8 | 12.3503 GBP | |||
579 | 12.3523 GBP | |||
7,394 | 12.3598 GBP | |||
33,755 | 12.3687 GBP | |||
31 | 12.3694 GBP | |||
289 | 12.3801 GBP | |||
22 | 12.3912 GBP | |||
4,302 | 12.4018 GBP | |||
949 | 12.4043 GBP | |||
17,562 | 12.4313 GBP | |||
4 | 12.4350 GBP | |||
37,500 | 12.4725 GBP | |||
5,426 | 12.5033 GBP | |||
37,306 | 12.5170 GBP | |||
48,418 | 12.6071 GBP | |||
100 | 12.6950 GBP | |||
68 | 12.6951 GBP | |||
218,067 | 12.7702 GBP | |||
34,068 | 12.8265 GBP | |||
8,543 | 12.8324 GBP | |||
100,000 | 12.8791 GBP | |||
100,000 | 12.8810 GBP | |||
7,181 | 12.8853 GBP | |||
101,775 | 12.8910 GBP | |||
200,000 | 12.8968 GBP | |||
100,000 | 12.8978 GBP | |||
100,000 | 12.8986 GBP | |||
250,000 | 12.9001 GBP | |||
244,000 | 12.9007 GBP | |||
100,000 | 12.9008 GBP | |||
75,000 | 12.9009 GBP | |||
701,235 | 12.9010 GBP | |||
60,955 | 12.9026 GBP | |||
160,000 | 12.9039 GBP | |||
250,000 | 12.9065 GBP | |||
200,000 | 12.9077 GBP | |||
80,000 | 12.9089 GBP | |||
200,000 | 12.9090 GBP | |||
240,000 | 12.9097 GBP | |||
339,078 | 12.9100 GBP | |||
158,000 | 12.9107 GBP | |||
2,071 | 12.9120 GBP | |||
4,051 | 12.9204 GBP | |||
25,334 | 12.9207 GBP | |||
Opening a short position | 1,213,113 | 12.4300 GBP | ||
5,400 | 12.8803 GBP | |||
150,000 | 12.9129 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
|
(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: | 20 March 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