5th Feb 2026 11:22
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: | 04 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 | 7,752,423 | 12.7213 GBP | 12.4000 GBP |
5p ordinary | Sales | 4,320,826 | 12.6936 GBP | 12.4000 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 | Increasing a long position | 224 | 12.3975 GBP |
5p ordinary | CFD | Increasing a long position | 510 | 12.3975 GBP |
5p ordinary | CFD | Increasing a long position | 2,246 | 12.3975 GBP |
5p ordinary | CFD | Reducing a short position | 138 | 12.3981 GBP |
5p ordinary | CFD | Opening a short position | 19,081 | 12.4000 GBP |
5p ordinary | CFD | Increasing a short position | 807 | 12.4001 GBP |
5p ordinary | CFD | Increasing a short position | 24,962 | 12.4002 GBP |
5p ordinary | CFD | Reducing a short position | 29,404 | 12.4028 GBP |
5p ordinary | CFD | Increasing a short position | 3,750 | 12.4062 GBP |
5p ordinary | CFD | Increasing a short position | 10,000 | 12.4062 GBP |
5p ordinary | CFD | Reducing a short position | 13,257 | 12.4079 GBP |
5p ordinary | CFD | Increasing a short position | 275,000 | 12.4099 GBP |
5p ordinary | CFD | Opening a short position | 15,195 | 12.4211 GBP |
5p ordinary | CFD | Reducing a short position | 50,506 | 12.4217 GBP |
5p ordinary | CFD | Reducing a short position | 74,223 | 12.4217 GBP |
5p ordinary | CFD | Increasing a short position | 50,926 | 12.4281 GBP |
5p ordinary | CFD | Increasing a short position | 35,310 | 12.4428 GBP |
5p ordinary | CFD | Reducing a short position | 43 | 12.4473 GBP |
5p ordinary | CFD | Opening a long position | 17,307 | 12.4498 GBP |
5p ordinary | CFD | Opening a short position | 37,987 | 12.4499 GBP |
5p ordinary | CFD | Opening a short position | 8,409 | 12.4516 GBP |
5p ordinary | CFD | Increasing a short position | 150,000 | 12.4537 GBP |
5p ordinary | CFD | Reducing a short position | 443 | 12.4546 GBP |
5p ordinary | CFD | Reducing a short position | 1,064 | 12.4548 GBP |
5p ordinary | CFD | Opening a short position | 90,705 | 12.4637 GBP |
5p ordinary | CFD | Increasing a short position | 7,131 | 12.4650 GBP |
5p ordinary | CFD | Opening a short position | 29,508 | 12.4687 GBP |
5p ordinary | CFD | Increasing a short position | 31,500 | 12.4693 GBP |
5p ordinary | CFD | Increasing a short position | 318,500 | 12.4693 GBP |
5p ordinary | CFD | Reducing a short position | 503 | 12.4694 GBP |
5p ordinary | CFD | Reducing a short position | 12,661 | 12.4713 GBP |
5p ordinary | CFD | Increasing a short position | 245 | 12.4733 GBP |
5p ordinary | CFD | Increasing a short position | 54,311 | 12.4798 GBP |
5p ordinary | CFD | Reducing a short position | 70,102 | 12.4815 GBP |
5p ordinary | CFD | Reducing a short position | 5,526 | 12.4815 GBP |
5p ordinary | CFD | Reducing a short position | 78,830 | 12.4815 GBP |
5p ordinary | CFD | Reducing a short position | 79,397 | 12.4815 GBP |
5p ordinary | CFD | Reducing a short position | 4,528 | 12.4815 GBP |
5p ordinary | CFD | Reducing a short position | 70,103 | 12.4815 GBP |
5p ordinary | CFD | Reducing a short position | 4,500 | 12.4818 GBP |
5p ordinary | CFD | Reducing a short position | 116,061 | 12.4827 GBP |
5p ordinary | CFD | Increasing a short position | 1,397 | 12.4837 GBP |
5p ordinary | CFD | Opening a short position | 706 | 12.4837 GBP |
5p ordinary | CFD | Increasing a short position | 6,337 | 12.4837 GBP |
5p ordinary | CFD | Opening a short position | 2,982 | 12.4837 GBP |
5p ordinary | CFD | Opening a short position | 1,008 | 12.4837 GBP |
5p ordinary | CFD | Opening a short position | 232 | 12.4837 GBP |
5p ordinary | CFD | Increasing a short position | 4,218 | 12.4887 GBP |
5p ordinary | CFD | Increasing a short position | 11,250 | 12.4887 GBP |
5p ordinary | CFD | Increasing a short position | 50,000 | 12.4917 GBP |
5p ordinary | CFD | Reducing a short position | 2,078 | 12.5011 GBP |
5p ordinary | CFD | Increasing a short position | 83 | 12.5026 GBP |
5p ordinary | CFD | Opening a short position | 50,655 | 12.5077 GBP |
5p ordinary | CFD | Opening a short position | 46,878 | 12.5077 GBP |
5p ordinary | CFD | Increasing a short position | 150,000 | 12.5087 GBP |
5p ordinary | CFD | Reducing a short position | 46,353 | 12.5108 GBP |
5p ordinary | CFD | Opening a short position | 2,993 | 12.5109 GBP |
5p ordinary | CFD | Opening a short position | 16,464 | 12.5150 GBP |
5p ordinary | CFD | Reducing a short position | 39 | 12.5164 GBP |
5p ordinary | CFD | Reducing a short position | 225 | 12.5164 GBP |
5p ordinary | CFD | Reducing a short position | 9 | 12.5164 GBP |
5p ordinary | CFD | Reducing a short position | 6 | 12.5164 GBP |
5p ordinary | CFD | Reducing a short position | 6 | 12.5164 GBP |
5p ordinary | CFD | Reducing a short position | 8 | 12.5164 GBP |
5p ordinary | CFD | Reducing a short position | 78,597 | 12.5402 GBP |
5p ordinary | CFD | Increasing a short position | 1 | 12.5413 GBP |
5p ordinary | CFD | Increasing a short position | 19,000 | 12.5414 GBP |
5p ordinary | CFD | Increasing a short position | 30 | 12.5502 GBP |
5p ordinary | CFD | Reducing a short position | 31,169 | 12.5514 GBP |
5p ordinary | CFD | Reducing a short position | 11,875 | 12.5607 GBP |
5p ordinary | CFD | Reducing a short position | 47,668 | 12.5612 GBP |
5p ordinary | CFD | Reducing a short position | 122,735 | 12.5612 GBP |
5p ordinary | CFD | Increasing a short position | 9,000 | 12.5626 GBP |
5p ordinary | CFD | Increasing a short position | 91,000 | 12.5626 GBP |
5p ordinary | CFD | Reducing a long position | 6,478 | 12.5725 GBP |
5p ordinary | CFD | Increasing a short position | 2,585 | 12.5763 GBP |
5p ordinary | CFD | Increasing a short position | 12 | 12.5775 GBP |
5p ordinary | CFD | Opening a short position | 55,000 | 12.5788 GBP |
5p ordinary | CFD | Increasing a short position | 150,000 | 12.5788 GBP |
5p ordinary | CFD | Reducing a short position | 4,764 | 12.5806 GBP |
5p ordinary | CFD | Reducing a short position | 3,391 | 12.5825 GBP |
5p ordinary | CFD | Reducing a short position | 10,608 | 12.5836 GBP |
5p ordinary | CFD | Opening a short position | 52,415 | 12.5851 GBP |
5p ordinary | CFD | Increasing a short position | 1,876,729 | 12.5860 GBP |
5p ordinary | CFD | Reducing a short position | 17,184 | 12.5889 GBP |
5p ordinary | CFD | Reducing a short position | 34,142 | 12.5925 GBP |
5p ordinary | CFD | Reducing a short position | 60,000 | 12.5953 GBP |
5p ordinary | CFD | Increasing a short position | 5,100 | 12.5958 GBP |
5p ordinary | CFD | Increasing a short position | 64,485 | 12.5963 GBP |
5p ordinary | CFD | Reducing a short position | 3,700 | 12.5974 GBP |
5p ordinary | CFD | Reducing a short position | 66,300 | 12.5974 GBP |
5p ordinary | CFD | Reducing a short position | 6,699 | 12.5986 GBP |
5p ordinary | CFD | Increasing a short position | 126 | 12.6002 GBP |
5p ordinary | CFD | Reducing a short position | 10,000 | 12.6015 GBP |
5p ordinary | CFD | Reducing a short position | 3,951 | 12.6022 GBP |
5p ordinary | CFD | Increasing a short position | 51,132 | 12.6025 GBP |
5p ordinary | CFD | Increasing a short position | 9,000 | 12.6026 GBP |
5p ordinary | CFD | Increasing a short position | 91,000 | 12.6026 GBP |
5p ordinary | CFD | Increasing a short position | 7,499 | 12.6088 GBP |
5p ordinary | CFD | Increasing a short position | 20,000 | 12.6088 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 12.6126 GBP |
5p ordinary | CFD | Increasing a short position | 150,000 | 12.6163 GBP |
5p ordinary | CFD | Reducing a short position | 26,699 | 12.6208 GBP |
5p ordinary | CFD | Opening a short position | 23,496 | 12.6234 GBP |
5p ordinary | CFD | Reducing a short position | 25,000 | 12.6243 GBP |
5p ordinary | CFD | Reducing a short position | 83,616 | 12.6261 GBP |
5p ordinary | CFD | Reducing a short position | 319 | 12.6287 GBP |
5p ordinary | CFD | Increasing a short position | 19,654 | 12.6288 GBP |
5p ordinary | CFD | Increasing a short position | 54,884 | 12.6288 GBP |
5p ordinary | CFD | Opening a short position | 25,077 | 12.6288 GBP |
5p ordinary | CFD | Reducing a short position | 2,025 | 12.6299 GBP |
5p ordinary | CFD | Increasing a short position | 19,654 | 12.6488 GBP |
5p ordinary | CFD | Increasing a short position | 54,884 | 12.6488 GBP |
5p ordinary | CFD | Opening a short position | 25,077 | 12.6488 GBP |
5p ordinary | CFD | Increasing a short position | 91,000 | 12.6589 GBP |
5p ordinary | CFD | Opening a short position | 99,615 | 12.6589 GBP |
5p ordinary | CFD | Increasing a short position | 9,000 | 12.6589 GBP |
5p ordinary | CFD | Opening a short position | 25,077 | 12.6589 GBP |
5p ordinary | CFD | Increasing a short position | 19,654 | 12.6589 GBP |
5p ordinary | CFD | Increasing a short position | 19,654 | 12.6589 GBP |
5p ordinary | CFD | Increasing a short position | 54,884 | 12.6589 GBP |
5p ordinary | CFD | Increasing a short position | 54,884 | 12.6589 GBP |
5p ordinary | CFD | Reducing a short position | 50,000 | 12.6936 GBP |
5p ordinary | CFD | Increasing a short position | 45,500 | 12.7089 GBP |
5p ordinary | CFD | Increasing a short position | 4,500 | 12.7089 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: | 05 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