6th Mar 2026 10:37
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: | 05 March 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 | 1,213,576 | 12.9004 GBP | 12.8700 GBP |
| Sale | 890,378 | 12.9000 GBP | 12.8700 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 | 19,966 | 12.8800 GBP |
63,552 | 12.8802 GBP | |||
25,461 | 12.8806 GBP | |||
6,883 | 12.8807 GBP | |||
33,677 | 12.8815 GBP | |||
79,804 | 12.8851 GBP | |||
745 | 12.8859 GBP | |||
117,655 | 12.8889 GBP | |||
7,053 | 12.8892 GBP | |||
2,345 | 12.8894 GBP | |||
3,784 | 12.8898 GBP | |||
1,571 | 12.8900 GBP | |||
5,000 | 12.8907 GBP | |||
400 | 12.9000 GBP | |||
Decrease Short | 1,844 | 12.8787 GBP | ||
577 | 12.8797 GBP | |||
124 | 12.8798 GBP | |||
22,742 | 12.8801 GBP | |||
807 | 12.8804 GBP | |||
174,185 | 12.8805 GBP | |||
13,500 | 12.8808 GBP | |||
55,651 | 12.8814 GBP | |||
5,284 | 12.8822 GBP | |||
538 | 12.8896 GBP | |||
292 | 12.8899 GBP | |||
4,263 | 12.8908 GBP | |||
Increase Long | 40,900 | 12.8791 GBP | ||
2,055 | 12.8794 GBP | |||
2,091 | 12.8800 GBP | |||
3,218 | 12.8805 GBP | |||
38,325 | 12.8872 GBP | |||
21,408 | 12.8900 GBP | |||
4,334 | 12.8901 GBP | |||
6,026 | 12.8921 GBP | |||
2,110 | 12.8972 GBP | |||
128 | 12.9000 GBP | |||
Increase Short | 177,294 | 12.8800 GBP | ||
1,246 | 12.8883 GBP | |||
18,187 | 12.8897 GBP | |||
78,500 | 12.8906 GBP | |||
116,224 | 12.8911 GBP | |||
904 | 12.8950 GBP | |||
8,700 | 12.9004 GBP | |||
Opening a long position | 54,306 | 12.8781 GBP | ||
2,803 | 12.8797 GBP | |||
38,011 | 12.8800 GBP | |||
669 | 12.8817 GBP | |||
59,241 | 12.8842 GBP | |||
Opening a short position | 117,019 | 12.8800 GBP | ||
1,384 | 12.8969 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: | 06 March 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