29th Jan 2026 07:19
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: | 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 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 | 1,389,233 | 11.3870 GBP | 11.1750 GBP |
5p ordinary | Sales | 1,780,751 | 11.4000 GBP | 11.1500 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 | Opening a short position | 232 | 11.1812 GBP |
5p ordinary | CFD | Opening a short position | 728 | 11.1812 GBP |
5p ordinary | CFD | Opening a short position | 2,934 | 11.1812 GBP |
5p ordinary | CFD | Increasing a short position | 1,412 | 11.1812 GBP |
5p ordinary | CFD | Increasing a short position | 6,352 | 11.1812 GBP |
5p ordinary | CFD | Opening a short position | 1,026 | 11.1812 GBP |
5p ordinary | CFD | Increasing a short position | 469 | 11.2322 GBP |
5p ordinary | CFD | Increasing a short position | 1,250 | 11.2322 GBP |
5p ordinary | CFD | Opening a short position | 151,315 | 11.2467 GBP |
5p ordinary | CFD | Increasing a short position | 99 | 11.2482 GBP |
5p ordinary | CFD | Reducing a short position | 5,044 | 11.2487 GBP |
5p ordinary | CFD | Reducing a short position | 18,508 | 11.2497 GBP |
5p ordinary | CFD | Reducing a short position | 13,634 | 11.2543 GBP |
5p ordinary | CFD | Increasing a short position | 468 | 11.2623 GBP |
5p ordinary | CFD | Increasing a short position | 1,250 | 11.2623 GBP |
5p ordinary | CFD | Increasing a short position | 3,609 | 11.2643 GBP |
5p ordinary | CFD | Reducing a short position | 6,245 | 11.2661 GBP |
5p ordinary | CFD | Reducing a short position | 11,843 | 11.2701 GBP |
5p ordinary | CFD | Increasing a short position | 106,261 | 11.2841 GBP |
5p ordinary | CFD | Reducing a short position | 6,799 | 11.2957 GBP |
5p ordinary | CFD | Increasing a short position | 86 | 11.2965 GBP |
5p ordinary | CFD | Reducing a short position | 452,862 | 11.3000 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 11.3034 GBP |
5p ordinary | CFD | Increasing a short position | 15,000 | 11.3034 GBP |
5p ordinary | CFD | Opening a short position | 25,000 | 11.3042 GBP |
5p ordinary | CFD | Increasing a short position | 813 | 11.3050 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 11.3054 GBP |
5p ordinary | CFD | Increasing a short position | 1,800 | 11.3069 GBP |
5p ordinary | CFD | Reducing a short position | 85,688 | 11.3116 GBP |
5p ordinary | CFD | Reducing a short position | 7,732 | 11.3120 GBP |
5p ordinary | CFD | Reducing a short position | 227 | 11.3120 GBP |
5p ordinary | CFD | Reducing a long position | 13,792 | 11.3120 GBP |
5p ordinary | CFD | Increasing a short position | 73,195 | 11.3135 GBP |
5p ordinary | CFD | Increasing a short position | 937 | 11.3138 GBP |
5p ordinary | CFD | Increasing a short position | 2,500 | 11.3138 GBP |
5p ordinary | CFD | Reducing a short position | 227 | 11.3148 GBP |
5p ordinary | CFD | Reducing a short position | 115 | 11.3148 GBP |
5p ordinary | CFD | Reducing a short position | 12,112 | 11.3148 GBP |
5p ordinary | CFD | Reducing a short position | 323 | 11.3148 GBP |
5p ordinary | CFD | Reducing a short position | 451 | 11.3148 GBP |
5p ordinary | CFD | Reducing a short position | 484 | 11.3148 GBP |
5p ordinary | CFD | Increasing a short position | 5,709 | 11.3150 GBP |
5p ordinary | CFD | Increasing a short position | 144 | 11.3154 GBP |
5p ordinary | CFD | Increasing a short position | 3,000 | 11.3214 GBP |
5p ordinary | CFD | Reducing a short position | 1,851 | 11.3244 GBP |
5p ordinary | CFD | Reducing a short position | 10,799 | 11.3244 GBP |
5p ordinary | CFD | Increasing a short position | 468 | 11.3247 GBP |
5p ordinary | CFD | Increasing a short position | 1,250 | 11.3247 GBP |
5p ordinary | CFD | Reducing a short position | 42,228 | 11.3264 GBP |
5p ordinary | CFD | Reducing a short position | 312 | 11.3302 GBP |
5p ordinary | CFD | Reducing a short position | 3,823 | 11.3325 GBP |
5p ordinary | CFD | Increasing a short position | 8,697 | 11.3364 GBP |
5p ordinary | CFD | Reducing a short position | 4,142 | 11.3398 GBP |
5p ordinary | CFD | Increasing a short position | 10,413 | 11.3402 GBP |
5p ordinary | CFD | Increasing a short position | 76,662 | 11.3402 GBP |
5p ordinary | CFD | Increasing a short position | 5,010 | 11.3405 GBP |
5p ordinary | CFD | Increasing a short position | 11,970 | 11.3414 GBP |
5p ordinary | CFD | Increasing a short position | 127 | 11.3417 GBP |
5p ordinary | CFD | Reducing a long position | 154 | 11.3423 GBP |
5p ordinary | CFD | Reducing a long position | 92 | 11.3423 GBP |
5p ordinary | CFD | Reducing a long position | 163 | 11.3423 GBP |
5p ordinary | CFD | Reducing a long position | 685 | 11.3423 GBP |
5p ordinary | CFD | Reducing a short position | 88,248 | 11.3519 GBP |
5p ordinary | CFD | Reducing a short position | 110,311 | 11.3519 GBP |
5p ordinary | CFD | Reducing a short position | 441,251 | 11.3519 GBP |
5p ordinary | CFD | Increasing a short position | 469 | 11.3823 GBP |
5p ordinary | CFD | Increasing a short position | 1,250 | 11.3823 GBP |
5p ordinary | CFD | Increasing a short position | 82,807 | 11.3880 GBP |
5p ordinary | CFD | Increasing a short position | 29,107 | 11.3880 GBP |
5p ordinary | CFD | Increasing a short position | 39,402 | 11.3880 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: | 29 January 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