23rd Feb 2026 11:55
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 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
| 463303 | 4.21600 GBP | 4.17200 GBP |
25p ordinary | Sell
| 855502 | 4.21600 GBP | 4.12794 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 | 4838 | 4.191162 GBP |
25p ordinary | CFD
| Long | 268634 | 4.127935 GBP |
25p ordinary | CFD
| Long | 4605 | 4.187905 GBP |
25p ordinary | CFD
| Long | 45726 | 4.18905699 GBP |
25p ordinary | CFD
| Long | 12986 | 4.18778 GBP |
25p ordinary | CFD
| Long | 769 | 4.1964559 GBP |
25p ordinary | CFD
| Long | 28091 | 4.20078169 GBP |
25p ordinary | CFD
| Long | 11587 | 4.192713 GBP |
25p ordinary | CFD
| Long | 166 | 4.21 GBP |
25p ordinary | CFD
| Long | 1574 | 4.19190867 GBP |
25p ordinary | CFD
| Long | 473 | 4.20200074989429 GBP |
25p ordinary | CFD
| Long | 25301 | 4.192877 GBP |
25p ordinary | CFD
| Long | 2 | 4.214 GBP |
25p ordinary | CFD
| Long | 382 | 4.18989528795812 GBP |
25p ordinary | CFD
| Long | 8 | 4.188 GBP |
25p ordinary | CFD
| Long | 258 | 4.20332558139535 GBP |
25p ordinary | CFD
| Long | 1338 | 4.19223467862481 GBP |
25p ordinary | CFD
| Long | 291 | 4.19265979381443 GBP |
25p ordinary | CFD
| Long | 1931 | 4.20792024596582 GBP |
25p ordinary | CFD
| Long | 1999 | 4.21069634433217 GBP |
25p ordinary | CFD
| Long | 2870 | 4.19600278745645 GBP |
25p ordinary | CFD
| Long | 11403 | 4.20718508682364 GBP |
25p ordinary | CFD
| Long | 24464 | 4.19449685 GBP |
25p ordinary | CFD
| Long | 925 | 4.191279 GBP |
25p ordinary | CFD
| Long | 2921 | 4.189791 GBP |
25p ordinary | CFD
| Long | 118514 | 4.191141 GBP |
25p ordinary | CFD
| Long | 20849 | 4.192984 GBP |
25p ordinary | CFD
| Long | 629 | 4.189267 GBP |
25p ordinary | CFD
| Short | 4 | 4.21 GBP |
25p ordinary | CFD
| Short | 6329 | 4.18003666522959 GBP |
25p ordinary | CFD
| Short | 133881 | 4.19 GBP |
25p ordinary | CFD
| Short | 8413 | 4.19031424997028 GBP |
25p ordinary | CFD
| Short | 3231 | 4.18003683539203 GBP |
25p ordinary | CFD
| Short | 245 | 4.20575510053061 GBP |
25p ordinary | CFD
| Short | 4801 | 4.20217567580446 GBP |
25p ordinary | CFD
| Short | 16478 | 4.19031425003034 GBP |
25p ordinary | CFD
| Short | 88 | 4.2 GBP |
25p ordinary | CFD
| Short | 170 | 4.20896470588235 GBP |
25p ordinary | CFD
| Short | 19906 | 4.18947227 GBP |
25p ordinary | CFD
| Short | 3264 | 4.20460907 GBP |
25p ordinary | CFD
| Short | 3081 | 4.19000006 GBP |
25p ordinary | CFD
| Short | 809 | 4.18884796285538 GBP |
25p ordinary | CFD
| Short | 2837 | 4.172 GBP |
25p ordinary | CFD
| Short | 5727 | 4.19817722901345 GBP |
25p ordinary | CFD
| Short | 8971 | 4.18939382464608 GBP |
25p ordinary | CFD
| Short | 223 | 4.190224 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: | 23 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