19th Mar 2026 07:00
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: | 18 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 | 438,384 | 3.8300 GBP | 3.7280 GBP |
25p ordinary | PURCHASES | 968,291 | 3.8320 GBP | 3.7220 GBP |
25p ordinary | PURCHASES | 35 | 5.0157 USD | 5.0157 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 | 12,268 | 3.7322 GBP |
25p ordinary | CFD | increasing a long position | 1 | 3.7400 GBP |
25p ordinary | CFD | increasing a long position | 8,250 | 3.7418 GBP |
25p ordinary | CFD | increasing a long position | 36,409 | 3.7426 GBP |
25p ordinary | CFD | increasing a long position | 5,986 | 3.7436 GBP |
25p ordinary | CFD | increasing a long position | 9 | 3.7460 GBP |
25p ordinary | CFD | increasing a long position | 288 | 3.7460 GBP |
25p ordinary | CFD | increasing a long position | 25 | 3.7460 GBP |
25p ordinary | CFD | increasing a long position | 2,935 | 3.7460 GBP |
25p ordinary | CFD | increasing a long position | 1,546 | 3.7549 GBP |
25p ordinary | CFD | increasing a long position | 1,386 | 3.7713 GBP |
25p ordinary | CFD | increasing a long position | 876 | 3.7749 GBP |
25p ordinary | CFD | increasing a long position | 1,332 | 3.7749 GBP |
25p ordinary | CFD | increasing a long position | 12,400 | 3.8133 GBP |
25p ordinary | CFD | increasing a long position | 514 | 3.8136 GBP |
25p ordinary | CFD | increasing a long position | 780 | 3.8136 GBP |
25p ordinary | CFD | increasing a short position | 264 | 3.7260 GBP |
25p ordinary | CFD | increasing a short position | 236 | 3.7260 GBP |
25p ordinary | CFD | increasing a short position | 394 | 3.7270 GBP |
25p ordinary | CFD | increasing a short position | 4,851 | 3.7299 GBP |
25p ordinary | CFD | increasing a short position | 1,342 | 3.7299 GBP |
25p ordinary | CFD | increasing a short position | 598 | 3.7299 GBP |
25p ordinary | CFD | increasing a short position | 866 | 3.7301 GBP |
25p ordinary | CFD | increasing a short position | 2,886 | 3.7350 GBP |
25p ordinary | CFD | increasing a short position | 58,178 | 3.7437 GBP |
25p ordinary | CFD | increasing a short position | 1,240 | 3.7442 GBP |
25p ordinary | CFD | increasing a short position | 2,948 | 3.7442 GBP |
25p ordinary | CFD | increasing a short position | 3,715 | 3.7442 GBP |
25p ordinary | CFD | increasing a short position | 109 | 3.7460 GBP |
25p ordinary | CFD | increasing a short position | 18,887 | 3.7460 GBP |
25p ordinary | CFD | increasing a short position | 35 | 3.7628 GBP |
25p ordinary | CFD | increasing a short position | 64,774 | 3.7663 GBP |
25p ordinary | CFD | increasing a short position | 689 | 3.8097 GBP |
25p ordinary | CFD | increasing a short position | 1,362 | 3.8097 GBP |
25p ordinary | CFD | increasing a short position | 500 | 3.8121 GBP |
25p ordinary | CFD | increasing a short position | 600 | 3.8180 GBP |
25p ordinary | CFD | reducing a long position | 2,281 | 3.7280 GBP |
25p ordinary | CFD | reducing a long position | 243 | 3.7325 GBP |
25p ordinary | CFD | reducing a long position | 1,064 | 3.7336 GBP |
25p ordinary | CFD | reducing a long position | 14,950 | 3.7366 GBP |
25p ordinary | CFD | reducing a long position | 1,631 | 3.7423 GBP |
25p ordinary | CFD | reducing a long position | 25,218 | 3.7455 GBP |
25p ordinary | CFD | reducing a long position | 67,177 | 3.7455 GBP |
25p ordinary | CFD | reducing a long position | 122 | 3.7460 GBP |
25p ordinary | CFD | reducing a long position | 13,268 | 3.7461 GBP |
25p ordinary | CFD | reducing a long position | 378 | 3.7559 GBP |
25p ordinary | CFD | reducing a long position | 9,856 | 3.7596 GBP |
25p ordinary | CFD | reducing a long position | 109,012 | 3.7701 GBP |
25p ordinary | CFD | reducing a long position | 70 | 3.7804 GBP |
25p ordinary | CFD | reducing a long position | 85,441 | 3.7864 GBP |
25p ordinary | CFD | reducing a long position | 17,627 | 3.7904 GBP |
25p ordinary | CFD | reducing a long position | 4,670 | 3.7951 GBP |
25p ordinary | CFD | reducing a short position | 1,048 | 3.7460 GBP |
25p ordinary | CFD | reducing a short position | 611 | 3.7460 GBP |
25p ordinary | CFD | reducing a short position | 26,093 | 3.7460 GBP |
25p ordinary | CFD | reducing a short position | 26 | 3.7464 GBP |
25p ordinary | CFD | reducing a short position | 9,405 | 3.7468 GBP |
25p ordinary | CFD | reducing a short position | 14,460 | 3.7482 GBP |
25p ordinary | CFD | reducing a short position | 1,162 | 3.7517 GBP |
25p ordinary | CFD | reducing a short position | 3,312 | 3.7704 GBP |
25p ordinary | CFD | reducing a short position | 6,971 | 3.7779 GBP |
25p ordinary | CFD | reducing a short position | 41,325 | 3.7808 GBP |
25p ordinary | CFD | reducing a short position | 17,997 | 3.7923 GBP |
25p ordinary | CFD | reducing a short position | 79 | 3.8000 GBP |
25p ordinary | CFD | reducing a short position | 52 | 3.8000 GBP |
25p ordinary | CFD | reducing a short position | 1,066 | 3.8136 GBP |
25p ordinary | CFD | reducing a short position | 702 | 3.8136 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: | 19 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