8th Apr 2026 07:52
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: | 07 April 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 | 1,043,384 | 3.6860 GBP | 3.6090 GBP |
25p ordinary | PURCHASES | 899,313 | 3.6910 GBP | 3.6120 GBP |
25p ordinary | SALES | 116 | 4.8195 USD | 4.8195 USD |
25p ordinary | PURCHASES | 6 | 4.8280 USD | 4.8280 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 | 62,638 | 3.6205 GBP |
25p ordinary | CFD | increasing a long position | 519 | 3.6210 GBP |
25p ordinary | CFD | increasing a long position | 275 | 3.6210 GBP |
25p ordinary | CFD | increasing a long position | 100 | 3.6224 GBP |
25p ordinary | CFD | increasing a long position | 103,502 | 3.6227 GBP |
25p ordinary | CFD | increasing a long position | 121,890 | 3.6232 GBP |
25p ordinary | CFD | increasing a long position | 9,330 | 3.6262 GBP |
25p ordinary | CFD | increasing a long position | 446 | 3.6422 GBP |
25p ordinary | CFD | increasing a long position | 206,826 | 3.6430 GBP |
25p ordinary | CFD | increasing a long position | 13,734 | 3.6434 GBP |
25p ordinary | CFD | increasing a long position | 134 | 3.6436 GBP |
25p ordinary | CFD | increasing a long position | 2,580 | 3.6451 GBP |
25p ordinary | CFD | increasing a long position | 640 | 3.6453 GBP |
25p ordinary | CFD | increasing a long position | 25,425 | 3.6471 GBP |
25p ordinary | CFD | increasing a long position | 8,244,640 | 3.6480 GBP |
25p ordinary | CFD | increasing a long position | 153 | 3.6643 GBP |
25p ordinary | CFD | increasing a long position | 1,113 | 3.6704 GBP |
25p ordinary | CFD | increasing a long position | 651 | 3.6730 GBP |
25p ordinary | CFD | increasing a long position | 2,563 | 3.6856 GBP |
25p ordinary | CFD | increasing a short position | 8 | 3.6190 GBP |
25p ordinary | CFD | increasing a short position | 5 | 3.6208 GBP |
25p ordinary | CFD | increasing a short position | 1,825 | 3.6210 GBP |
25p ordinary | CFD | increasing a short position | 1,135 | 3.6210 GBP |
25p ordinary | CFD | increasing a short position | 13,739 | 3.6210 GBP |
25p ordinary | CFD | increasing a short position | 19 | 3.6210 GBP |
25p ordinary | CFD | increasing a short position | 64,257 | 3.6210 GBP |
25p ordinary | CFD | increasing a short position | 39,872 | 3.6218 GBP |
25p ordinary | CFD | increasing a short position | 8,926 | 3.6227 GBP |
25p ordinary | CFD | increasing a short position | 7,298 | 3.6227 GBP |
25p ordinary | CFD | increasing a short position | 3,325 | 3.6227 GBP |
25p ordinary | CFD | increasing a short position | 375 | 3.6228 GBP |
25p ordinary | CFD | increasing a short position | 1,060 | 3.6228 GBP |
25p ordinary | CFD | increasing a short position | 6,035 | 3.6228 GBP |
25p ordinary | CFD | increasing a short position | 1,534 | 3.6228 GBP |
25p ordinary | CFD | increasing a short position | 1,359 | 3.6255 GBP |
25p ordinary | CFD | increasing a short position | 1,507 | 3.6284 GBP |
25p ordinary | CFD | increasing a short position | 10,012 | 3.6328 GBP |
25p ordinary | CFD | increasing a short position | 6,659 | 3.6348 GBP |
25p ordinary | CFD | increasing a short position | 400 | 3.6414 GBP |
25p ordinary | CFD | increasing a short position | 6 | 3.6457 GBP |
25p ordinary | CFD | increasing a short position | 33,900 | 3.6561 GBP |
25p ordinary | CFD | increasing a short position | 1,304 | 3.6562 GBP |
25p ordinary | CFD | increasing a short position | 288 | 3.6610 GBP |
25p ordinary | CFD | increasing a short position | 67 | 3.6733 GBP |
25p ordinary | CFD | increasing a short position | 29,143 | 3.6745 GBP |
25p ordinary | CFD | increasing a short position | 16 | 3.6750 GBP |
25p ordinary | CFD | increasing a short position | 144 | 3.6766 GBP |
25p ordinary | CFD | increasing a short position | 1,219 | 3.6781 GBP |
25p ordinary | CFD | increasing a short position | 100 | 3.6833 GBP |
25p ordinary | CFD | increasing a short position | 1,000 | 3.6873 GBP |
25p ordinary | CFD | reducing a long position | 2,763 | 3.6156 GBP |
25p ordinary | CFD | reducing a long position | 2,809 | 3.6210 GBP |
25p ordinary | CFD | reducing a long position | 4,832 | 3.6211 GBP |
25p ordinary | CFD | reducing a long position | 11,596 | 3.6228 GBP |
25p ordinary | CFD | reducing a long position | 33,007 | 3.6228 GBP |
25p ordinary | CFD | reducing a long position | 261,566 | 3.6228 GBP |
25p ordinary | CFD | reducing a long position | 47,507 | 3.6228 GBP |
25p ordinary | CFD | reducing a long position | 10,272 | 3.6323 GBP |
25p ordinary | CFD | reducing a long position | 5,120 | 3.6356 GBP |
25p ordinary | CFD | reducing a long position | 22,094 | 3.6470 GBP |
25p ordinary | CFD | reducing a long position | 8,244,640 | 3.6480 GBP |
25p ordinary | CFD | reducing a long position | 605 | 3.6496 GBP |
25p ordinary | CFD | reducing a long position | 400 | 3.6496 GBP |
25p ordinary | CFD | reducing a long position | 17,277 | 3.6546 GBP |
25p ordinary | CFD | reducing a long position | 19,513 | 3.6561 GBP |
25p ordinary | CFD | reducing a long position | 11,749 | 3.6602 GBP |
25p ordinary | CFD | reducing a long position | 2,887 | 3.6645 GBP |
25p ordinary | CFD | reducing a long position | 15,849 | 3.6726 GBP |
25p ordinary | CFD | reducing a long position | 3,278 | 3.6853 GBP |
25p ordinary | CFD | reducing a long position | 73,304 | 3.6853 GBP |
25p ordinary | CFD | reducing a long position | 13,432 | 3.6853 GBP |
25p ordinary | CFD | reducing a long position | 9,331 | 3.6853 GBP |
25p ordinary | CFD | reducing a short position | 889 | 3.6080 GBP |
25p ordinary | CFD | reducing a short position | 49,021 | 3.6210 GBP |
25p ordinary | CFD | reducing a short position | 3,687 | 3.6210 GBP |
25p ordinary | CFD | reducing a short position | 121 | 3.6221 GBP |
25p ordinary | CFD | reducing a short position | 134,355 | 3.6301 GBP |
25p ordinary | CFD | reducing a short position | 2,731 | 3.6315 GBP |
25p ordinary | CFD | reducing a short position | 116 | 3.6393 GBP |
25p ordinary | CFD | reducing a short position | 546 | 3.6410 GBP |
25p ordinary | CFD | reducing a short position | 708 | 3.6450 GBP |
25p ordinary | CFD | reducing a short position | 1,181 | 3.6473 GBP |
25p ordinary | CFD | reducing a short position | 6,408 | 3.6582 GBP |
25p ordinary | CFD | reducing a short position | 33,900 | 3.6704 GBP |
25p ordinary | CFD | reducing a short position | 417 | 3.6720 GBP |
25p ordinary | CFD | reducing a short position | 4,744 | 3.6729 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: | 08 April 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