9th Feb 2026 10:29
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: | 06 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 | 1,551,950 | 12.4800 GBP | 12.3200 GBP |
| Sale | 705,827 | 12.4907 GBP | 12.3200 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 | 162,973 | 12.3600 GBP |
3,550 | 12.3606 GBP | |||
19,954 | 12.3619 GBP | |||
6,579 | 12.3678 GBP | |||
108 | 12.4002 GBP | |||
252 | 12.4256 GBP | |||
Decrease Short | 85 | 12.3348 GBP | ||
5,193 | 12.3600 GBP | |||
5,175 | 12.3612 GBP | |||
88 | 12.3620 GBP | |||
23,901 | 12.3651 GBP | |||
2,983 | 12.3669 GBP | |||
9,309 | 12.3708 GBP | |||
12,307 | 12.3717 GBP | |||
6,148 | 12.3764 GBP | |||
44,810 | 12.3765 GBP | |||
3,417 | 12.3770 GBP | |||
374 | 12.3776 GBP | |||
1,494 | 12.3800 GBP | |||
23,520 | 12.3810 GBP | |||
74 | 12.3905 GBP | |||
3,797 | 12.3930 GBP | |||
53 | 12.3998 GBP | |||
20,644 | 12.4045 GBP | |||
73 | 12.4048 GBP | |||
6,016 | 12.4128 GBP | |||
444 | 12.4133 GBP | |||
995 | 12.4158 GBP | |||
5,074 | 12.4368 GBP | |||
126 | 12.4514 GBP | |||
557 | 12.4515 GBP | |||
6,700 | 12.4821 GBP | |||
5,356 | 12.4907 GBP | |||
Increase Long | 11,790 | 12.3590 GBP | ||
697 | 12.3594 GBP | |||
131,368 | 12.3600 GBP | |||
15,020 | 12.3788 GBP | |||
24 | 12.3884 GBP | |||
10,941 | 12.3896 GBP | |||
4,103 | 12.3910 GBP | |||
2,946 | 12.4190 GBP | |||
Increase Short | 88 | 12.3376 GBP | ||
332,278 | 12.3600 GBP | |||
43,048 | 12.3602 GBP | |||
426 | 12.3612 GBP | |||
20,140 | 12.3631 GBP | |||
14,186 | 12.3632 GBP | |||
24,288 | 12.3662 GBP | |||
191,790 | 12.3687 GBP | |||
4,052 | 12.3720 GBP | |||
430 | 12.3747 GBP | |||
186,625 | 12.3753 GBP | |||
5,921 | 12.3797 GBP | |||
19,348 | 12.3807 GBP | |||
67 | 12.3812 GBP | |||
158 | 12.3814 GBP | |||
10,414 | 12.3878 GBP | |||
5,000 | 12.3954 GBP | |||
29,877 | 12.3959 GBP | |||
4,553 | 12.4025 GBP | |||
7,588 | 12.4134 GBP | |||
8,703 | 12.4225 GBP | |||
5,513 | 12.4264 GBP | |||
50,000 | 12.4350 GBP | |||
43,929 | 12.4545 GBP | |||
2,756 | 12.4547 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: | 09 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