13th Feb 2026 11:56
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: | 12 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 this offer? If it is a cash offer or possible cash offer, state "N/A" | YES
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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
| 3443143 | 4.16600 GBP | 3.98107 GBP |
25p ordinary | Sell
| 2734326 | 4.16600 GBP | 3.98107 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 | 272 | 4.10400735294118 GBP |
25p ordinary | CFD
| Long | 17799 | 4.059876 GBP |
25p ordinary | CFD
| Long | 3965 | 4.02299873896595 GBP |
25p ordinary | CFD
| Long | 231 | 4.14767707021645 GBP |
25p ordinary | CFD
| Long | 46217 | 4.05918796113984 GBP |
25p ordinary | CFD
| Long | 4371 | 4.06156578 GBP |
25p ordinary | CFD
| Long | 37303 | 4.059797 GBP |
25p ordinary | CFD
| Long | 8595 | 4.06155501702269 GBP |
25p ordinary | CFD
| Long | 3666 | 4.0622649 GBP |
25p ordinary | CFD
| Long | 31401 | 4.05215722 GBP |
25p ordinary | CFD
| Long | 22595 | 4.05678107960434 GBP |
25p ordinary | CFD
| Long | 7787 | 4.05695466481443 GBP |
25p ordinary | CFD
| Long | 4039 | 4.07555582966081 GBP |
25p ordinary | CFD
| Long | 2528 | 4.06949129525316 GBP |
25p ordinary | CFD
| Long | 785 | 4.05283312187261 GBP |
25p ordinary | CFD
| Long | 28597 | 4.0617026261496 GBP |
25p ordinary | CFD
| Long | 6966 | 4.0381857575079 GBP |
25p ordinary | CFD
| Long | 5884 | 4.03 GBP |
25p ordinary | CFD
| Long | 24172 | 4.0632792 GBP |
25p ordinary | CFD
| Short | 8095 | 4.0681545804756 GBP |
25p ordinary | CFD
| Short | 35826 | 4.03137802068163 GBP |
25p ordinary | CFD
| Short | 5884 | 4.03 GBP |
25p ordinary | CFD
| Short | 3965 | 4.02299873896595 GBP |
25p ordinary | CFD
| Short | 272 | 4.10400735294118 GBP |
25p ordinary | CFD
| Short | 4558 | 4.03469679 GBP |
25p ordinary | CFD
| Short | 30442 | 4.06 GBP |
25p ordinary | CFD
| Short | 3471 | 4.05175777167387 GBP |
25p ordinary | CFD
| Short | 3222 | 4.069659 GBP |
25p ordinary | CFD
| Short | 76703 | 4.06332034 GBP |
25p ordinary | CFD
| Short | 62270 | 4.06285175201478 GBP |
25p ordinary | CFD
| Short | 17342 | 4.03784142535809 GBP |
25p ordinary | CFD
| Short | 17060 | 4.05919577958792 GBP |
25p ordinary | CFD
| Short | 29407 | 4.06332890107763 GBP |
25p ordinary | CFD
| Short | 25705 | 4.04981132 GBP |
25p ordinary | CFD
| Short | 70482 | 4.03137726062342 GBP |
25p ordinary | CFD
| Short | 65924 | 4.06654883636581 GBP |
25p ordinary | CFD
| Short | 182962 | 4.06861018 GBP |
25p ordinary | CFD
| Short | 91010 | 4.07330299 GBP |
25p ordinary | CFD
| Short | 90499 | 4.04985717 GBP |
25p ordinary | CFD
| Short | 26246 | 4.06605 GBP |
25p ordinary | CFD
| Short | 8156 | 4.06507789809833 GBP |
25p ordinary | CFD
| Short | 2760 | 4.04358943478261 GBP |
25p ordinary | CFD
| Short | 86 | 4.06741860465116 GBP |
25p ordinary | CFD
| Short | 23862 | 4.06289140019864 GBP |
25p ordinary | CFD
| Short | 1439 | 4.098 GBP |
25p ordinary | CFD
| Short | 16320 | 4.058217 GBP |
25p ordinary | CFD
| Short | 326 | 4.04173954 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 |
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(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 |
| Date of disclosure: | 13 February 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