18th Mar 2026 07:15
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: | 17 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 | 1,371,658 | 3.8022 GBP | 3.7240 GBP |
25p ordinary | PURCHASES | 1,462,245 | 3.8041 GBP | 3.7212 GBP |
25p ordinary | SALES | 15 | 5.0504 USD | 5.0504 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 | 8,140 | 3.7659 GBP |
25p ordinary | CFD | increasing a long position | 1 | 3.7660 GBP |
25p ordinary | CFD | increasing a long position | 2,606 | 3.7714 GBP |
25p ordinary | CFD | increasing a long position | 2,789 | 3.7715 GBP |
25p ordinary | CFD | increasing a long position | 16,689 | 3.7731 GBP |
25p ordinary | CFD | increasing a long position | 400 | 3.7733 GBP |
25p ordinary | CFD | increasing a long position | 1,000 | 3.7734 GBP |
25p ordinary | CFD | increasing a long position | 663 | 3.7737 GBP |
25p ordinary | CFD | increasing a long position | 1,234 | 3.7737 GBP |
25p ordinary | CFD | increasing a long position | 2,728 | 3.7737 GBP |
25p ordinary | CFD | increasing a long position | 10,080 | 3.7737 GBP |
25p ordinary | CFD | increasing a long position | 27,548 | 3.7743 GBP |
25p ordinary | CFD | increasing a long position | 248 | 3.7754 GBP |
25p ordinary | CFD | increasing a long position | 345 | 3.7771 GBP |
25p ordinary | CFD | increasing a long position | 6,559 | 3.7775 GBP |
25p ordinary | CFD | increasing a long position | 1,732 | 3.7784 GBP |
25p ordinary | CFD | increasing a long position | 2,237 | 3.7784 GBP |
25p ordinary | CFD | increasing a long position | 406 | 3.7855 GBP |
25p ordinary | CFD | increasing a long position | 238 | 3.7901 GBP |
25p ordinary | CFD | increasing a long position | 30 | 3.7917 GBP |
25p ordinary | CFD | increasing a short position | 79 | 3.7240 GBP |
25p ordinary | CFD | increasing a short position | 51 | 3.7240 GBP |
25p ordinary | CFD | increasing a short position | 3,800 | 3.7532 GBP |
25p ordinary | CFD | increasing a short position | 800 | 3.7643 GBP |
25p ordinary | CFD | increasing a short position | 385 | 3.7660 GBP |
25p ordinary | CFD | increasing a short position | 486 | 3.7660 GBP |
25p ordinary | CFD | increasing a short position | 1,066 | 3.7660 GBP |
25p ordinary | CFD | increasing a short position | 5,518 | 3.7660 GBP |
25p ordinary | CFD | increasing a short position | 2,263 | 3.7660 GBP |
25p ordinary | CFD | increasing a short position | 163 | 3.7660 GBP |
25p ordinary | CFD | increasing a short position | 45,563 | 3.7732 GBP |
25p ordinary | CFD | increasing a short position | 469 | 3.7772 GBP |
25p ordinary | CFD | increasing a short position | 17,481 | 3.7780 GBP |
25p ordinary | CFD | increasing a short position | 177 | 3.7920 GBP |
25p ordinary | CFD | increasing a short position | 107 | 3.7940 GBP |
25p ordinary | CFD | reducing a long position | 6,035 | 3.7390 GBP |
25p ordinary | CFD | reducing a long position | 9,207 | 3.7600 GBP |
25p ordinary | CFD | reducing a long position | 98,626 | 3.7660 GBP |
25p ordinary | CFD | reducing a long position | 193 | 3.7660 GBP |
25p ordinary | CFD | reducing a long position | 7,427 | 3.7661 GBP |
25p ordinary | CFD | reducing a long position | 12,199 | 3.7668 GBP |
25p ordinary | CFD | reducing a long position | 415 | 3.7675 GBP |
25p ordinary | CFD | reducing a long position | 95 | 3.7689 GBP |
25p ordinary | CFD | reducing a long position | 8,018 | 3.7708 GBP |
25p ordinary | CFD | reducing a long position | 61,566 | 3.7728 GBP |
25p ordinary | CFD | reducing a long position | 5,565 | 3.7732 GBP |
25p ordinary | CFD | reducing a long position | 47,091 | 3.7760 GBP |
25p ordinary | CFD | reducing a long position | 25,871 | 3.7798 GBP |
25p ordinary | CFD | reducing a long position | 52,826 | 3.7830 GBP |
25p ordinary | CFD | reducing a long position | 15 | 3.7867 GBP |
25p ordinary | CFD | reducing a long position | 888 | 3.7873 GBP |
25p ordinary | CFD | reducing a short position | 18,776 | 3.7659 GBP |
25p ordinary | CFD | reducing a short position | 4,721 | 3.7660 GBP |
25p ordinary | CFD | reducing a short position | 230,887 | 3.7660 GBP |
25p ordinary | CFD | reducing a short position | 4,213 | 3.7660 GBP |
25p ordinary | CFD | reducing a short position | 65,771 | 3.7711 GBP |
25p ordinary | CFD | reducing a short position | 16,029 | 3.7715 GBP |
25p ordinary | CFD | reducing a short position | 964 | 3.7766 GBP |
25p ordinary | CFD | reducing a short position | 6,882 | 3.7766 GBP |
25p ordinary | CFD | reducing a short position | 1,236 | 3.7780 GBP |
25p ordinary | CFD | reducing a short position | 529 | 3.7788 GBP |
25p ordinary | CFD | reducing a short position | 15 | 3.7831 GBP |
25p ordinary | CFD | reducing a short position | 4,179 | 3.7839 GBP |
25p ordinary | CFD | reducing a short position | 5,295 | 3.7839 GBP |
25p ordinary | CFD | reducing a short position | 39,027 | 3.7841 GBP |
25p ordinary | CFD | reducing a short position | 3,250 | 3.7843 GBP |
25p ordinary | CFD | reducing a short position | 51 | 3.7860 GBP |
25p ordinary | CFD | reducing a short position | 79 | 3.7860 GBP |
25p ordinary | CFD | reducing a short position | 38,476 | 3.7896 GBP |
25p ordinary | CFD | reducing a short position | 12,965 | 3.7914 GBP |
25p ordinary | CFD | reducing a short position | 8,363 | 3.7926 GBP |
25p ordinary | CFD | reducing a short position | 1,078 | 3.7972 GBP |
25p ordinary | CFD | reducing a short position | 545 | 3.8020 GBP |
25p ordinary | CFD | reducing a short position | 1,031 | 3.8022 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: | 18 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