23rd Mar 2026 11:31
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 | British Land Company plc |
(c) Name of the party to the offer with which exempt principal trader is connected: | British Land Company plc |
(d) Date dealing undertaken: | 20 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" | YES
|
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 |
25p ordinary | Buy
| 1179142 | 3.64299 GBP | 3.51800 GBP |
25p ordinary | Sell
| 1003708 | 3.64100 GBP | 3.51200 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 |
25p ordinary | CFD
| Long | 106480 | 3.522744 GBP |
25p ordinary | CFD
| Long | 131716 | 3.528 GBP |
25p ordinary | CFD
| Long | 27924 | 3.584131 GBP |
25p ordinary | CFD
| Long | 1613 | 3.6069993800372 GBP |
25p ordinary | CFD
| Long | 2262 | 3.62 GBP |
25p ordinary | CFD
| Long | 1286 | 3.64100311041991 GBP |
25p ordinary | CFD
| Long | 1288 | 3.61100155279503 GBP |
25p ordinary | CFD
| Long | 1287 | 3.63199689199689 GBP |
25p ordinary | CFD
| Long | 2252 | 3.615 GBP |
25p ordinary | CFD
| Long | 1607 | 3.60599875544493 GBP |
25p ordinary | CFD
| Long | 6804 | 3.56969527111405 GBP |
25p ordinary | CFD
| Long | 72022 | 3.527824 GBP |
25p ordinary | CFD
| Long | 21596 | 3.587821 GBP |
25p ordinary | CFD
| Long | 40851 | 3.54165650779663 GBP |
25p ordinary | CFD
| Long | 14461 | 3.56890118264781 GBP |
25p ordinary | CFD
| Long | 81392 | 3.57231267750025 GBP |
25p ordinary | CFD
| Long | 6208 | 3.60288981958763 GBP |
25p ordinary | CFD
| Long | 60 | 3.6004333325 GBP |
25p ordinary | CFD
| Long | 8571 | 3.52750087489908 GBP |
25p ordinary | CFD
| Long | 932 | 3.54877467821888 GBP |
25p ordinary | CFD
| Long | 2 | 3.588 GBP |
25p ordinary | CFD
| Short | 13127 | 3.52828263 GBP |
25p ordinary | CFD
| Short | 889 | 3.54480764904387 GBP |
25p ordinary | CFD
| Short | 9582 | 3.57578979 GBP |
25p ordinary | CFD
| Short | 21959 | 3.55342198 GBP |
25p ordinary | CFD
| Short | 5556 | 3.5806418299784 GBP |
25p ordinary | CFD
| Short | 5753 | 3.56347285035628 GBP |
25p ordinary | CFD
| Short | 16101 | 3.53336762 GBP |
25p ordinary | CFD
| Short | 12145 | 3.548156 GBP |
25p ordinary | CFD
| Short | 6232 | 3.528 GBP |
25p ordinary | CFD
| Short | 53422 | 3.52778 GBP |
25p ordinary | CFD
| Short | 7799 | 3.56254541091935 GBP |
25p ordinary | CFD
| Short | 8064 | 3.5282645999504 GBP |
25p ordinary | CFD
| Short | 2262 | 3.62 GBP |
25p ordinary | CFD
| Short | 1853 | 3.61500269832704 GBP |
25p ordinary | CFD
| Short | 615 | 3.606 GBP |
25p ordinary | CFD
| Short | 626 | 3.60699680511182 GBP |
25p ordinary | CFD
| Short | 6215 | 3.59212223047466 GBP |
25p ordinary | CFD
| Short | 51428 | 3.528176 GBP |
25p ordinary | CFD
| Short | 21596 | 3.536635 GBP |
25p ordinary | CFD
| Short | 1439 | 3.608179 GBP |
25p ordinary | CFD
| Short | 14011 | 3.52800014274499 GBP |
25p ordinary | CFD
| Short | 10270 | 3.52821129503408 GBP |
25p ordinary | CFD
| Short | 577 | 3.52821490467938 GBP |
25p ordinary | CFD
| Short | 301 | 3.52820598006645 GBP |
25p ordinary | CFD
| Short | 89 | 3.52820224719101 GBP |
25p ordinary | CFD
| Short | 13188 | 3.52821201091902 GBP |
25p ordinary | CFD
| Short | 15666 | 3.57966245 GBP |
25p ordinary | CFD
| Short | 106007 | 3.53844657381475 GBP |
25p ordinary | CFD
| Short | 73931 | 3.53047490223695 GBP |
25p ordinary | CFD
| Short | 16608 | 3.60070568439969 GBP |
25p ordinary | CFD
| Short | 5705 | 3.59572515492025 GBP |
25p ordinary | CFD
| Short | 21 | 3.636 GBP |
25p ordinary | CFD
| Short | 61 | 3.60340983770492 GBP |
25p ordinary | CFD
| Short | 11 | 3.55489244363636 GBP |
25p ordinary | CFD
| Short | 17 | 3.55208712705882 GBP |
25p ordinary | CFD
| Short | 42 | 3.627190475 GBP |
25p ordinary | CFD
| Short | 15412 | 3.56254702097067 GBP |
25p ordinary | CFD
| Short | 15936 | 3.5282646000251 GBP |
25p ordinary | CFD
| Short | 1287 | 3.63199689199689 GBP |
25p ordinary | CFD
| Short | 1286 | 3.64100311041991 GBP |
25p ordinary | CFD
| Short | 1288 | 3.61100155279503 GBP |
25p ordinary | CFD
| Short | 399 | 3.61498746867168 GBP |
25p ordinary | CFD
| Short | 992 | 3.60599798387097 GBP |
25p ordinary | CFD
| Short | 987 | 3.60700101317123 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: | 23 March 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:
British Land