12th Mar 2026 08:46
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: | Morgan Stanley & Co. International plc |
(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, The |
(c) Name of the party to the offer with which exempt principal trader is connected: | British Land Company plc, The |
(d) Date dealing undertaken: | 11 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 - Life Science REIT plc |
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 | SALES | 640,140 | 3.7180 GBP | 3.6580 GBP |
25p ordinary | PURCHASES | 1,537,371 | 3.7245 GBP | 3.6580 GBP |
25p ordinary | PURCHASES | 33 | 4.9855 USD | 4.9273 USD |
(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 | increasing a long position | 1,567 | 3.6604 GBP |
25p ordinary | CFD | increasing a long position | 1,214 | 3.6604 GBP |
25p ordinary | CFD | increasing a long position | 2,878 | 3.6720 GBP |
25p ordinary | CFD | increasing a long position | 1 | 3.6720 GBP |
25p ordinary | CFD | increasing a long position | 6 | 3.6720 GBP |
25p ordinary | CFD | increasing a long position | 1,891 | 3.6769 GBP |
25p ordinary | CFD | increasing a long position | 12,026 | 3.6780 GBP |
25p ordinary | CFD | increasing a long position | 599 | 3.6782 GBP |
25p ordinary | CFD | increasing a long position | 3,600 | 3.6802 GBP |
25p ordinary | CFD | increasing a long position | 3,122 | 3.6809 GBP |
25p ordinary | CFD | increasing a long position | 827 | 3.6811 GBP |
25p ordinary | CFD | increasing a short position | 750 | 3.6686 GBP |
25p ordinary | CFD | increasing a short position | 2,699 | 3.6702 GBP |
25p ordinary | CFD | increasing a short position | 2,141 | 3.6702 GBP |
25p ordinary | CFD | increasing a short position | 901 | 3.6702 GBP |
25p ordinary | CFD | increasing a short position | 5,369 | 3.6720 GBP |
25p ordinary | CFD | increasing a short position | 846 | 3.6720 GBP |
25p ordinary | CFD | increasing a short position | 65,049 | 3.6752 GBP |
25p ordinary | CFD | increasing a short position | 33 | 3.6759 GBP |
25p ordinary | CFD | increasing a short position | 10,355 | 3.6764 GBP |
25p ordinary | CFD | increasing a short position | 72,587 | 3.6780 GBP |
25p ordinary | CFD | increasing a short position | 1,700 | 3.6788 GBP |
25p ordinary | CFD | increasing a short position | 207,600 | 3.6788 GBP |
25p ordinary | CFD | increasing a short position | 96,903 | 3.6804 GBP |
25p ordinary | CFD | increasing a short position | 63,589 | 3.6804 GBP |
25p ordinary | CFD | increasing a short position | 7,700 | 3.6810 GBP |
25p ordinary | CFD | increasing a short position | 2,700 | 3.6820 GBP |
25p ordinary | CFD | increasing a short position | 96,903 | 3.6824 GBP |
25p ordinary | CFD | increasing a short position | 39,824 | 3.6838 GBP |
25p ordinary | CFD | increasing a short position | 8,700 | 3.6880 GBP |
25p ordinary | CFD | increasing a short position | 543 | 3.6880 GBP |
25p ordinary | CFD | increasing a short position | 906 | 3.6900 GBP |
25p ordinary | CFD | increasing a short position | 5,861 | 3.6927 GBP |
25p ordinary | CFD | increasing a short position | 1,837 | 3.6949 GBP |
25p ordinary | CFD | increasing a short position | 1,175 | 3.6960 GBP |
25p ordinary | CFD | increasing a short position | 65,894 | 3.6964 GBP |
25p ordinary | CFD | increasing a short position | 4,139 | 3.6995 GBP |
25p ordinary | CFD | increasing a short position | 581 | 3.6999 GBP |
25p ordinary | CFD | increasing a short position | 34,885 | 3.7064 GBP |
25p ordinary | CFD | increasing a short position | 1,958 | 3.7070 GBP |
25p ordinary | CFD | increasing a short position | 69,769 | 3.7205 GBP |
25p ordinary | CFD | increasing a short position | 35,660 | 3.7245 GBP |
25p ordinary | CFD | reducing a long position | 186 | 3.6720 GBP |
25p ordinary | CFD | reducing a long position | 3,032 | 3.6720 GBP |
25p ordinary | CFD | reducing a long position | 1,057 | 3.6721 GBP |
25p ordinary | CFD | reducing a long position | 8,961 | 3.6739 GBP |
25p ordinary | CFD | reducing a long position | 1,533 | 3.6758 GBP |
25p ordinary | CFD | reducing a long position | 470 | 3.6773 GBP |
25p ordinary | CFD | reducing a long position | 1,511 | 3.6781 GBP |
25p ordinary | CFD | reducing a long position | 119,791 | 3.6803 GBP |
25p ordinary | CFD | reducing a long position | 601 | 3.6804 GBP |
25p ordinary | CFD | reducing a long position | 6,804 | 3.6804 GBP |
25p ordinary | CFD | reducing a long position | 391 | 3.6811 GBP |
25p ordinary | CFD | reducing a long position | 1,067 | 3.6814 GBP |
25p ordinary | CFD | reducing a long position | 66,913 | 3.6820 GBP |
25p ordinary | CFD | reducing a long position | 31,531 | 3.6845 GBP |
25p ordinary | CFD | reducing a long position | 4,662 | 3.6850 GBP |
25p ordinary | CFD | reducing a long position | 16,194 | 3.6870 GBP |
25p ordinary | CFD | reducing a long position | 1,646 | 3.6904 GBP |
25p ordinary | CFD | reducing a long position | 718 | 3.6916 GBP |
25p ordinary | CFD | reducing a long position | 1,538 | 3.6933 GBP |
25p ordinary | CFD | reducing a long position | 164 | 3.6950 GBP |
25p ordinary | CFD | reducing a short position | 564 | 3.6718 GBP |
25p ordinary | CFD | reducing a short position | 856 | 3.6718 GBP |
25p ordinary | CFD | reducing a short position | 61,745 | 3.6738 GBP |
25p ordinary | CFD | reducing a short position | 503 | 3.6742 GBP |
25p ordinary | CFD | reducing a short position | 12,637 | 3.6760 GBP |
25p ordinary | CFD | reducing a short position | 2,437 | 3.6761 GBP |
25p ordinary | CFD | reducing a short position | 3,052 | 3.6790 GBP |
25p ordinary | CFD | reducing a short position | 2,536 | 3.6793 GBP |
25p ordinary | CFD | reducing a short position | 53,270 | 3.6811 GBP |
25p ordinary | CFD | reducing a short position | 442 | 3.6814 GBP |
25p ordinary | CFD | reducing a short position | 17,369 | 3.6846 GBP |
25p ordinary | CFD | reducing a short position | 11,433 | 3.6846 GBP |
25p ordinary | CFD | reducing a short position | 8,778 | 3.6851 GBP |
25p ordinary | CFD | reducing a short position | 9,191 | 3.6907 GBP |
25p ordinary | CFD | reducing a short position | 161 | 3.6928 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 |
N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
N/A | N/A | N/A | N/A | N/A |
(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) |
N/A | N/A | N/A | N/A |
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: | 12 March 2026 |
| Contact name: | Claire Gordon |
| Telephone number: | +44 141 245-8893 |
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:
British Land