17th Feb 2026 11:47
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: | (GS) GOLDMAN SACHS INTERNATIONAL |
(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: | ZURICH INSURANCE GROUP LTD |
(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 the 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 | Purchases | 1,348,891 | 12.3000 GBP | 12.1700 GBP |
5p ordinary | Sales | 936,523 | 12.3100 GBP | 12.1689 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 | CFD | Reducing a short position | 40,000 | 12.1689 GBP |
5p ordinary | CFD | Reducing a short position | 9 | 12.1877 GBP |
5p ordinary | CFD | Reducing a short position | 1,805 | 12.1883 GBP |
5p ordinary | CFD | Reducing a short position | 9,609 | 12.1972 GBP |
5p ordinary | CFD | Increasing a long position | 1,242 | 12.1976 GBP |
5p ordinary | CFD | Opening a long position | 387 | 12.1990 GBP |
5p ordinary | CFD | Increasing a long position | 165 | 12.1990 GBP |
5p ordinary | CFD | Reducing a short position | 8,791 | 12.1998 GBP |
5p ordinary | CFD | Increasing a short position | 203 | 12.2012 GBP |
5p ordinary | CFD | Increasing a short position | 216 | 12.2019 GBP |
5p ordinary | CFD | Increasing a short position | 14,995 | 12.2021 GBP |
5p ordinary | CFD | Increasing a short position | 469 | 12.2023 GBP |
5p ordinary | CFD | Increasing a short position | 1,250 | 12.2023 GBP |
5p ordinary | CFD | Increasing a short position | 36 | 12.2037 GBP |
5p ordinary | CFD | Increasing a short position | 123 | 12.2066 GBP |
5p ordinary | CFD | Increasing a short position | 3,303 | 12.2079 GBP |
5p ordinary | CFD | Increasing a short position | 20,000 | 12.2099 GBP |
5p ordinary | CFD | Reducing a short position | 391,034 | 12.2113 GBP |
5p ordinary | CFD | Reducing a long position | 863 | 12.2114 GBP |
5p ordinary | CFD | Opening a short position | 6,718 | 12.2114 GBP |
5p ordinary | CFD | Increasing a short position | 13,557 | 12.2120 GBP |
5p ordinary | CFD | Reducing a long position | 1,095 | 12.2148 GBP |
5p ordinary | CFD | Reducing a short position | 3,049 | 12.2148 GBP |
5p ordinary | CFD | Reducing a short position | 43,831 | 12.2151 GBP |
5p ordinary | CFD | Increasing a short position | 110,000 | 12.2152 GBP |
5p ordinary | CFD | Reducing a short position | 1,396 | 12.2171 GBP |
5p ordinary | CFD | Opening a short position | 8,076 | 12.2177 GBP |
5p ordinary | CFD | Opening a short position | 8,049 | 12.2177 GBP |
5p ordinary | CFD | Reducing a short position | 20 | 12.2208 GBP |
5p ordinary | CFD | Increasing a short position | 23,149 | 12.2210 GBP |
5p ordinary | CFD | Opening a short position | 100,000 | 12.2222 GBP |
5p ordinary | CFD | Opening a short position | 20,091 | 12.2327 GBP |
5p ordinary | CFD | Increasing a short position | 937 | 12.2461 GBP |
5p ordinary | CFD | Increasing a short position | 2,500 | 12.2461 GBP |
5p ordinary | CFD | Increasing a short position | 3,755 | 12.2508 GBP |
5p ordinary | CFD | Reducing a short position | 13,142 | 12.2556 GBP |
5p ordinary | CFD | Reducing a short position | 85 | 12.2652 GBP |
5p ordinary | CFD | Reducing a short position | 777 | 12.2739 GBP |
5p ordinary | CFD | Increasing a short position | 9,309 | 12.2761 GBP |
5p ordinary | CFD | Reducing a short position | 5 | 12.2810 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 12.2908 GBP |
5p ordinary | CFD | Opening a long position | 863 | 12.2985 GBP |
5p ordinary | CFD | Reducing a short position | 1,809 | 12.2985 GBP |
5p ordinary | CFD | Reducing a short position | 139 | 12.2999 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) |
|
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: | 17 February 2026 |
| Contact name: | Papa Lette and Andrzej Szyszka |
| Telephone number: | +33(1) 4212 1459 / +48(22) 317 4817 |
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 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