16th Feb 2026 11:55
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: | UBS Investment Bank, London |
(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: | 13 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" | NA
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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 | Buy
| 2062682 | 12.45714 GBP | 12.30000 GBP |
5p Ordinary | Sell
| 780070 | 12.45714 GBP | 12.29941 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
| Long | 31290 | 12.3 GBP |
5p Ordinary | CFD
| Long | 13 | 12.3496295 GBP |
5p Ordinary | CFD
| Long | 1002 | 12.41481038 GBP |
5p Ordinary | CFD
| Long | 13112 | 12.365675 GBP |
5p Ordinary | CFD
| Long | 72 | 12.36902778 GBP |
5p Ordinary | CFD
| Long | 1385 | 12.36224135 GBP |
5p Ordinary | CFD
| Long | 25262 | 12.336034 GBP |
5p Ordinary | CFD
| Long | 1078 | 12.34 GBP |
5p Ordinary | CFD
| Long | 34 | 12.299508 GBP |
5p Ordinary | CFD
| Long | 835 | 12.33895755 GBP |
5p Ordinary | CFD
| Short | 2432 | 16.772649 USD |
5p Ordinary | CFD
| Short | 6857 | 12.32608721 GBP |
5p Ordinary | CFD
| Short | 587 | 12.387479 GBP |
5p Ordinary | CFD
| Short | 1983 | 12.3224 GBP |
5p Ordinary | CFD
| Short | 693 | 12.3002 GBP |
5p Ordinary | CFD
| Short | 9800 | 12.313062244898 GBP |
5p Ordinary | CFD
| Short | 76879 | 12.4062 GBP |
5p Ordinary | CFD
| Short | 1087 | 12.387489 GBP |
5p Ordinary | CFD
| Short | 81097 | 12.3 GBP |
5p Ordinary | CFD
| Short | 95648 | 12.39849 GBP |
5p Ordinary | CFD
| Short | 27974 | 12.3224640737828 GBP |
5p Ordinary | CFD
| Short | 1772 | 12.3130586907449 GBP |
5p Ordinary | CFD
| Short | 6053 | 12.32011775 GBP |
5p Ordinary | CFD
| Short | 5216 | 12.362872 GBP |
5p Ordinary | CFD
| Short | 60 | 12.310833 GBP |
5p Ordinary | CFD
| Short | 5461 | 12.387491 GBP |
5p Ordinary | CFD
| Short | 4008 | 12.387493 GBP |
5p Ordinary | CFD
| Short | 554919 | 12.31306212258 GBP |
5p Ordinary | CFD
| Short | 2329 | 12.38748 GBP |
5p Ordinary | CFD
| Short | 42 | 12.387381 GBP |
5p Ordinary | CFD
| Short | 433 | 12.3552424942263 GBP |
5p Ordinary | CFD
| Short | 526 | 12.3576 GBP |
5p Ordinary | CFD
| Short | 2389 | 12.345002692005 GBP |
5p Ordinary | CFD
| Short | 2782 | 12.3552444284687 GBP |
5p Ordinary | CFD
| Short | 1730 | 12.37097977 GBP |
5p Ordinary | CFD
| Short | 4078 | 12.3552427660618 GBP |
5p Ordinary | CFD
| Short | 2066 | 12.310784 GBP |
5p Ordinary | CFD
| Short | 2933 | 12.3130617115581 GBP |
5p Ordinary | CFD
| Short | 64007 | 12.3552428640617 GBP |
5p Ordinary | CFD
| Short | 850 | 12.42654426 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 |
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(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: | 16 February 2026 |
| Contact name: | Richard Howard |
| Telephone number: | +44 (0)207 568 9128 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]
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