1st Aug 2025 11:41
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: | J.P. Morgan Securities Plc |
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Just Group plc |
(c) Name of the party to the offer with which exempt principal trader is connected: | Joint financial adviser and corporate broker to the Just Group plc |
(d) Date dealing undertaken: | 31 July 2025 |
(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" | N/A |
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 |
10p ordinary | Purchase
Sale | 8,606,532
6,649,295 | 2.1350 GBP
2.1300 GBP | 2.1057 GBP
2.1067 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 |
10p ordinary | Equity Swap | Decrease Long
Decrease Short
Increase Long
Increase Short
Opening a Short Position
| 100,759 32,316 37,279 50,379 63,478 842,201 50,378 100,759 11,076 79,102 28,872 569,231 50,378 261,173 374,617 298,994 301,960
7,230 12,405 62,349 7,053 17,828 87,790 79,229 249,630 317,486 3,416 137,757 99 85,100 226,267 565,264 460
13,080 19,620 668 12,014
3,565 1,392,701 1,166 28,720 11,309 51,092 332 93,348 10,437 24,268 15,238
59 200,000 | 2.1057 GBP 2.1110 GBP 2.1111 GBP 2.1112 GBP 2.1146 GBP 2.1147 GBP 2.1161 GBP 2.1167 GBP 2.1178 GBP 2.1189 GBP 2.1191 GBP 2.1205 GBP 2.1211 GBP 2.1213 GBP 2.1260 GBP 2.1263 GBP 2.1266 GBP
2.1074 GBP 2.1096 GBP 2.1098 GBP 2.1099 GBP 2.1100 GBP 2.1115 GBP 2.1125 GBP 2.1136 GBP 2.1144 GBP 2.1148 GBP 2.1149 GBP 2.1151 GBP 2.1155 GBP 2.1156 GBP 2.1164 GBP 2.1248 GBP
2.1087 GBP 2.1137 GBP 2.1163 GBP 2.1172 GBP
2.1057 GBP 2.1100 GBP 2.1101 GBP 2.1114 GBP 2.1125 GBP 2.1130 GBP 2.1171 GBP 2.1182 GBP 2.1201 GBP 2.1250 GBP 2.1275 GBP
2.1100 GBP 2.1221 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 |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
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(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) |
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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
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(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
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| Date of disclosure: | 1 August 2025 |
| Contact name: | Hetvi Shah |
| Telephone number: | 44 2034 936359 |
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:
Just Group