28th Jan 2026 11:58
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: | 27 January 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
| 1479863 | 11.41140 GBP | 11.15874 GBP |
5p Ordinary | Sell
| 914717 | 11.40500 GBP | 11.15335 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 | 24618 | 11.30760097 GBP |
5p Ordinary | CFD
| Long | 201278 | 11.34 GBP |
5p Ordinary | CFD
| Long | 199 | 11.339849 GBP |
5p Ordinary | CFD
| Long | 9568 | 11.31328718 GBP |
5p Ordinary | CFD
| Long | 15406 | 11.30702713 GBP |
5p Ordinary | CFD
| Long | 37807 | 11.3157060018 GBP |
5p Ordinary | CFD
| Long | 2017 | 11.2974 GBP |
5p Ordinary | CFD
| Long | 49816 | 11.3203354343986 GBP |
5p Ordinary | CFD
| Long | 3580 | 11.2927402234637 GBP |
5p Ordinary | CFD
| Long | 1282 | 11.20271451 GBP |
5p Ordinary | CFD
| Long | 890 | 11.329 GBP |
5p Ordinary | CFD
| Long | 191 | 11.1533507853403 GBP |
5p Ordinary | CFD
| Long | 191 | 11.3105235602094 GBP |
5p Ordinary | CFD
| Long | 365 | 11.2899900671233 GBP |
5p Ordinary | CFD
| Long | 482 | 11.2823 GBP |
5p Ordinary | CFD
| Long | 12677 | 11.29022252 GBP |
5p Ordinary | CFD
| Long | 452 | 15.6346848 USD |
5p Ordinary | CFD
| Long | 1062 | 11.373465 GBP |
5p Ordinary | CFD
| Long | 12293 | 11.307315 GBP |
5p Ordinary | CFD
| Short | 129325 | 11.2997399604485 GBP |
5p Ordinary | CFD
| Short | 21004 | 11.34 GBP |
5p Ordinary | CFD
| Short | 4578 | 11.33276943 GBP |
5p Ordinary | CFD
| Short | 22838 | 11.34000015 GBP |
5p Ordinary | CFD
| Short | 5224 | 11.334282 GBP |
5p Ordinary | CFD
| Short | 14555 | 11.317174 GBP |
5p Ordinary | CFD
| Short | 13968 | 11.312569 GBP |
5p Ordinary | CFD
| Short | 12838 | 11.30008646 GBP |
5p Ordinary | CFD
| Short | 1300 | 11.377462 GBP |
5p Ordinary | CFD
| Short | 5164 | 11.3416189 GBP |
5p Ordinary | CFD
| Short | 100000 | 11.319526 GBP |
5p Ordinary | CFD
| Short | 95923 | 11.31452405 GBP |
5p Ordinary | CFD
| Short | 4077 | 11.31178195 GBP |
5p Ordinary | CFD
| Short | 499838 | 11.242286 GBP |
5p Ordinary | CFD
| Short | 13164 | 11.18117 GBP |
5p Ordinary | CFD
| Short | 265 | 11.4114 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: | 28 January 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