18th Mar 2026 10:38
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: | 17 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 | 603,543 | 12.9100 GBP | 12.8804 GBP |
| Sale | 349,817 | 12.9050 GBP | 12.8800 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 | 514 | 12.8863 GBP |
162 | 12.8900 GBP | |||
17,495 | 12.8930 GBP | |||
221 | 12.8955 GBP | |||
2,300 | 12.8974 GBP | |||
18,033 | 12.8983 GBP | |||
23,493 | 12.8988 GBP | |||
644 | 12.9000 GBP | |||
7,113 | 12.9002 GBP | |||
240 | 12.9006 GBP | |||
2,200 | 12.9009 GBP | |||
14,324 | 12.9010 GBP | |||
25 | 12.9012 GBP | |||
538 | 12.9013 GBP | |||
Decrease Short | 1,400 | 12.8974 GBP | ||
27,011 | 12.8993 GBP | |||
1,309 | 12.8997 GBP | |||
2,762 | 12.9035 GBP | |||
Increase Long | 1,144 | 12.8900 GBP | ||
4,214 | 12.8916 GBP | |||
5,800 | 12.8943 GBP | |||
129 | 12.8994 GBP | |||
227 | 12.8995 GBP | |||
6,607 | 12.8998 GBP | |||
800 | 12.9000 GBP | |||
Increase Short | 561 | 12.8804 GBP | ||
338 | 12.8896 GBP | |||
104,592 | 12.8900 GBP | |||
4,281 | 12.8902 GBP | |||
28,453 | 12.8975 GBP | |||
3,760 | 12.8978 GBP | |||
60 | 12.8979 GBP | |||
4,906 | 12.9006 GBP | |||
6,072 | 12.9007 GBP | |||
4,281 | 12.9013 GBP | |||
Opening a long position | 11,185 | 12.9000 GBP | ||
Opening a short position | 139 | 12.8838 GBP | ||
6,034 | 12.8865 GBP | |||
3,241 | 12.8902 GBP | |||
391 | 12.8937 GBP | |||
600 | 12.8951 GBP | |||
359 | 12.8957 GBP | |||
1,709 | 12.8963 GBP | |||
6,953 | 12.8996 GBP | |||
43,517 | 12.9003 GBP | |||
525 | 12.9009 GBP | |||
7,124 | 12.9013 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: | 18 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