27th 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: | 26 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
| 1235037 | 4.12800 GBP | 4.07000 GBP |
25p ordinary | Sell
| 442554 | 4.13333 GBP | 4.07000 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 | 130715 | 4.09118157824274 GBP |
25p ordinary | CFD
| Long | 3052 | 4.092 GBP |
25p ordinary | CFD
| Long | 2803 | 4.1225701684909 GBP |
25p ordinary | CFD
| Long | 205 | 4.087749 GBP |
25p ordinary | CFD
| Long | 31762 | 4.09068999 GBP |
25p ordinary | CFD
| Long | 254 | 4.10666929082677 GBP |
25p ordinary | CFD
| Long | 7431 | 4.09447719130938 GBP |
25p ordinary | CFD
| Long | 2997 | 4.12589122864531 GBP |
25p ordinary | CFD
| Long | 3 | 4.132 GBP |
25p ordinary | CFD
| Long | 1 | 4.108 GBP |
25p ordinary | CFD
| Long | 1 | 4.11159136 GBP |
25p ordinary | CFD
| Long | 1802 | 4.11906308 GBP |
25p ordinary | CFD
| Long | 59 | 4.086 GBP |
25p ordinary | CFD
| Long | 6917 | 4.125277 GBP |
25p ordinary | CFD
| Long | 2846 | 4.09200001 GBP |
25p ordinary | CFD
| Short | 11046 | 4.12354915298389 GBP |
25p ordinary | CFD
| Short | 17509 | 4.09336142 GBP |
25p ordinary | CFD
| Short | 37615 | 4.092205 GBP |
25p ordinary | CFD
| Short | 29626 | 4.092204 GBP |
25p ordinary | CFD
| Short | 14167 | 4.08385967508859 GBP |
25p ordinary | CFD
| Short | 649 | 4.07679814989214 GBP |
25p ordinary | CFD
| Short | 26694 | 4.0974506812205 GBP |
25p ordinary | CFD
| Short | 9238 | 4.10094630893808 GBP |
25p ordinary | CFD
| Short | 2043 | 4.10873813 GBP |
25p ordinary | CFD
| Short | 601632 | 4.092 GBP |
25p ordinary | CFD
| Short | 3 | 4.09546966 GBP |
25p ordinary | CFD
| Short | 11004 | 4.09075424 GBP |
25p ordinary | CFD
| Short | 41530 | 4.09253625 GBP |
25p ordinary | CFD
| Short | 1 | 4.10408776 GBP |
25p ordinary | CFD
| Short | 21829 | 4.12354713284209 GBP |
25p ordinary | CFD
| Short | 26096 | 4.08582252 GBP |
25p ordinary | CFD
| Short | 3220 | 4.0861895410559 GBP |
25p ordinary | CFD
| Short | 1 | 4.108 GBP |
25p ordinary | CFD
| Short | 2579 | 4.08397052089957 GBP |
25p ordinary | CFD
| Short | 49323 | 4.09197926525576 GBP |
25p ordinary | CFD
| Short | 1680 | 4.08367261904595 GBP |
25p ordinary | CFD
| Short | 734 | 4.1002029977248 GBP |
25p ordinary | CFD
| Short | 16311 | 4.0797758 GBP |
25p ordinary | CFD
| Short | 3950 | 4.07428548 GBP |
25p ordinary | CFD
| Short | 2251 | 4.075 GBP |
25p ordinary | CFD
| Short | 31639 | 4.094673 GBP |
25p ordinary | CFD
| Short | 868 | 4.128 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: | 27 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