6th Feb 2026 08:25
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: | 05 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 - 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 | PURCHASES | 1,552,148 | 4.2580 GBP | 4.1160 GBP |
25p ordinary | SALES | 2,265,279 | 4.2582 GBP | 4.1140 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 | increasing a long position | 17,305 | 4.1231 GBP |
25p ordinary | CFD | increasing a long position | 3,370 | 4.1243 GBP |
25p ordinary | CFD | increasing a long position | 12,059 | 4.1243 GBP |
25p ordinary | CFD | increasing a long position | 76,117 | 4.1243 GBP |
25p ordinary | CFD | increasing a long position | 20,798 | 4.1243 GBP |
25p ordinary | CFD | increasing a long position | 11,378 | 4.1243 GBP |
25p ordinary | CFD | increasing a long position | 1,184 | 4.1286 GBP |
25p ordinary | CFD | increasing a long position | 900 | 4.1420 GBP |
25p ordinary | CFD | increasing a long position | 2 | 4.1440 GBP |
25p ordinary | CFD | increasing a long position | 1,244 | 4.1484 GBP |
25p ordinary | CFD | increasing a long position | 21,638 | 4.1612 GBP |
25p ordinary | CFD | increasing a long position | 178,385 | 4.1622 GBP |
25p ordinary | CFD | increasing a long position | 11,295 | 4.1624 GBP |
25p ordinary | CFD | increasing a long position | 1,233 | 4.1633 GBP |
25p ordinary | CFD | increasing a long position | 3,976 | 4.1663 GBP |
25p ordinary | CFD | increasing a long position | 4,687 | 4.1663 GBP |
25p ordinary | CFD | increasing a long position | 2,894 | 4.1663 GBP |
25p ordinary | CFD | increasing a long position | 24,190 | 4.1663 GBP |
25p ordinary | CFD | increasing a long position | 477 | 4.1663 GBP |
25p ordinary | CFD | increasing a long position | 109,605 | 4.1745 GBP |
25p ordinary | CFD | increasing a long position | 338 | 4.1760 GBP |
25p ordinary | CFD | increasing a long position | 1,025 | 4.1760 GBP |
25p ordinary | CFD | increasing a long position | 146 | 4.1760 GBP |
25p ordinary | CFD | increasing a long position | 784 | 4.1760 GBP |
25p ordinary | CFD | increasing a long position | 3,071 | 4.1760 GBP |
25p ordinary | CFD | increasing a long position | 61 | 4.1768 GBP |
25p ordinary | CFD | increasing a long position | 5,179 | 4.1785 GBP |
25p ordinary | CFD | increasing a long position | 1,447 | 4.1785 GBP |
25p ordinary | CFD | increasing a long position | 4,886 | 4.1785 GBP |
25p ordinary | CFD | increasing a long position | 32,686 | 4.1785 GBP |
25p ordinary | CFD | increasing a long position | 8,931 | 4.1785 GBP |
25p ordinary | CFD | increasing a long position | 10,337 | 4.1811 GBP |
25p ordinary | CFD | increasing a long position | 9,752 | 4.1811 GBP |
25p ordinary | CFD | increasing a long position | 17,827 | 4.1811 GBP |
25p ordinary | CFD | increasing a long position | 65,243 | 4.1811 GBP |
25p ordinary | CFD | increasing a long position | 2,889 | 4.1811 GBP |
25p ordinary | CFD | increasing a long position | 151,951 | 4.1811 GBP |
25p ordinary | CFD | increasing a long position | 4,182 | 4.1817 GBP |
25p ordinary | CFD | increasing a long position | 1,597 | 4.1820 GBP |
25p ordinary | CFD | increasing a long position | 1,062 | 4.1830 GBP |
25p ordinary | CFD | increasing a long position | 112 | 4.1838 GBP |
25p ordinary | CFD | increasing a long position | 1,324 | 4.1847 GBP |
25p ordinary | CFD | increasing a long position | 14,275 | 4.1858 GBP |
25p ordinary | CFD | increasing a long position | 1,746 | 4.1865 GBP |
25p ordinary | CFD | increasing a long position | 490 | 4.1865 GBP |
25p ordinary | CFD | increasing a long position | 6,811 | 4.1870 GBP |
25p ordinary | CFD | increasing a long position | 78,998 | 4.1879 GBP |
25p ordinary | CFD | increasing a long position | 4,291 | 4.1887 GBP |
25p ordinary | CFD | increasing a long position | 4,549 | 4.1887 GBP |
25p ordinary | CFD | increasing a long position | 1,271 | 4.1887 GBP |
25p ordinary | CFD | increasing a long position | 28,708 | 4.1887 GBP |
25p ordinary | CFD | increasing a long position | 7,844 | 4.1887 GBP |
25p ordinary | CFD | increasing a long position | 53,300 | 4.1890 GBP |
25p ordinary | CFD | increasing a long position | 6,994 | 4.1930 GBP |
25p ordinary | CFD | increasing a long position | 222 | 4.1951 GBP |
25p ordinary | CFD | increasing a long position | 1,677 | 4.1995 GBP |
25p ordinary | CFD | increasing a long position | 111 | 4.2576 GBP |
25p ordinary | CFD | increasing a long position | 241 | 4.2580 GBP |
25p ordinary | CFD | increasing a long position | 157 | 4.2581 GBP |
25p ordinary | CFD | increasing a short position | 55,136 | 4.1179 GBP |
25p ordinary | CFD | increasing a short position | 36,758 | 4.1249 GBP |
25p ordinary | CFD | increasing a short position | 388 | 4.1320 GBP |
25p ordinary | CFD | increasing a short position | 6,937 | 4.1340 GBP |
25p ordinary | CFD | increasing a short position | 13,624 | 4.1362 GBP |
25p ordinary | CFD | increasing a short position | 89,456 | 4.1461 GBP |
25p ordinary | CFD | increasing a short position | 86 | 4.1479 GBP |
25p ordinary | CFD | increasing a short position | 8,571 | 4.1491 GBP |
25p ordinary | CFD | increasing a short position | 17,009 | 4.1542 GBP |
25p ordinary | CFD | increasing a short position | 5,027 | 4.1684 GBP |
25p ordinary | CFD | increasing a short position | 37,435 | 4.1685 GBP |
25p ordinary | CFD | increasing a short position | 656 | 4.1719 GBP |
25p ordinary | CFD | increasing a short position | 11,395 | 4.1719 GBP |
25p ordinary | CFD | increasing a short position | 1,844 | 4.1719 GBP |
25p ordinary | CFD | increasing a short position | 2,200 | 4.1719 GBP |
25p ordinary | CFD | increasing a short position | 21,085 | 4.1751 GBP |
25p ordinary | CFD | increasing a short position | 64,063 | 4.1757 GBP |
25p ordinary | CFD | increasing a short position | 2 | 4.1760 GBP |
25p ordinary | CFD | increasing a short position | 524 | 4.1760 GBP |
25p ordinary | CFD | increasing a short position | 1,290 | 4.1760 GBP |
25p ordinary | CFD | increasing a short position | 72,431 | 4.1762 GBP |
25p ordinary | CFD | increasing a short position | 10,490 | 4.1831 GBP |
25p ordinary | CFD | increasing a short position | 58,857 | 4.1943 GBP |
25p ordinary | CFD | reducing a long position | 25,862 | 4.1321 GBP |
25p ordinary | CFD | reducing a long position | 16,350 | 4.1329 GBP |
25p ordinary | CFD | reducing a long position | 57,811 | 4.1387 GBP |
25p ordinary | CFD | reducing a long position | 3,642 | 4.1391 GBP |
25p ordinary | CFD | reducing a long position | 2,004 | 4.1408 GBP |
25p ordinary | CFD | reducing a long position | 900 | 4.1420 GBP |
25p ordinary | CFD | reducing a long position | 2 | 4.1440 GBP |
25p ordinary | CFD | reducing a long position | 1,212 | 4.1479 GBP |
25p ordinary | CFD | reducing a long position | 814 | 4.1479 GBP |
25p ordinary | CFD | reducing a long position | 53,467 | 4.1483 GBP |
25p ordinary | CFD | reducing a long position | 214 | 4.1505 GBP |
25p ordinary | CFD | reducing a long position | 3,367 | 4.1535 GBP |
25p ordinary | CFD | reducing a long position | 274 | 4.1596 GBP |
25p ordinary | CFD | reducing a long position | 935 | 4.1678 GBP |
25p ordinary | CFD | reducing a long position | 12,168 | 4.1692 GBP |
25p ordinary | CFD | reducing a long position | 16,555 | 4.1757 GBP |
25p ordinary | CFD | reducing a long position | 9,795 | 4.1760 GBP |
25p ordinary | CFD | reducing a long position | 2 | 4.1760 GBP |
25p ordinary | CFD | reducing a long position | 11,205 | 4.1760 GBP |
25p ordinary | CFD | reducing a long position | 130 | 4.1764 GBP |
25p ordinary | CFD | reducing a long position | 41,313 | 4.1766 GBP |
25p ordinary | CFD | reducing a long position | 676 | 4.1793 GBP |
25p ordinary | CFD | reducing a long position | 1,647 | 4.1800 GBP |
25p ordinary | CFD | reducing a long position | 7,046 | 4.1800 GBP |
25p ordinary | CFD | reducing a long position | 726 | 4.1800 GBP |
25p ordinary | CFD | reducing a long position | 279 | 4.1800 GBP |
25p ordinary | CFD | reducing a long position | 943 | 4.1800 GBP |
25p ordinary | CFD | reducing a long position | 730 | 4.1802 GBP |
25p ordinary | CFD | reducing a long position | 241 | 4.1802 GBP |
25p ordinary | CFD | reducing a long position | 558 | 4.1802 GBP |
25p ordinary | CFD | reducing a long position | 7,158 | 4.1814 GBP |
25p ordinary | CFD | reducing a long position | 10,981 | 4.1814 GBP |
25p ordinary | CFD | reducing a long position | 1,171 | 4.1819 GBP |
25p ordinary | CFD | reducing a long position | 1,597 | 4.1820 GBP |
25p ordinary | CFD | reducing a long position | 489 | 4.1834 GBP |
25p ordinary | CFD | reducing a long position | 1,887 | 4.1846 GBP |
25p ordinary | CFD | reducing a long position | 3,295 | 4.1846 GBP |
25p ordinary | CFD | reducing a long position | 14,088 | 4.1846 GBP |
25p ordinary | CFD | reducing a long position | 1,453 | 4.1846 GBP |
25p ordinary | CFD | reducing a long position | 559 | 4.1846 GBP |
25p ordinary | CFD | reducing a long position | 2,097 | 4.1858 GBP |
25p ordinary | CFD | reducing a long position | 6,811 | 4.1870 GBP |
25p ordinary | CFD | reducing a long position | 53,300 | 4.1890 GBP |
25p ordinary | CFD | reducing a long position | 231 | 4.1910 GBP |
25p ordinary | CFD | reducing a long position | 6,994 | 4.1930 GBP |
25p ordinary | CFD | reducing a long position | 2,332 | 4.2003 GBP |
25p ordinary | CFD | reducing a long position | 775 | 4.2507 GBP |
25p ordinary | CFD | reducing a short position | 6,871 | 4.1200 GBP |
25p ordinary | CFD | reducing a short position | 64,063 | 4.1612 GBP |
25p ordinary | CFD | reducing a short position | 1,252 | 4.1757 GBP |
25p ordinary | CFD | reducing a short position | 49 | 4.1758 GBP |
25p ordinary | CFD | reducing a short position | 48,690 | 4.1760 GBP |
25p ordinary | CFD | reducing a short position | 57,775 | 4.1775 GBP |
25p ordinary | CFD | reducing a short position | 16,226 | 4.1779 GBP |
25p ordinary | CFD | reducing a short position | 4 | 4.1810 GBP |
25p ordinary | CFD | reducing a short position | 1,196 | 4.1811 GBP |
25p ordinary | CFD | reducing a short position | 862 | 4.1843 GBP |
25p ordinary | CFD | reducing a short position | 388 | 4.1865 GBP |
25p ordinary | CFD | reducing a short position | 524 | 4.1886 GBP |
25p ordinary | CFD | reducing a short position | 47,038 | 4.1897 GBP |
25p ordinary | CFD | reducing a short position | 623 | 4.1955 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: | 06 February 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