30th Jan 2026 14:27
AMENDMENT(2(a), 2(b))
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: | 28 January 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 | 2,064,358 | 4.1740 GBP | 4.0440 GBP |
25p ordinary | PURCHASES | 1,383,345 | 4.1800 GBP | 4.0639 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 | 220,306 | 4.0440 GBP |
25p ordinary | CFD | increasing a long position | 54,359 | 4.0672 GBP |
25p ordinary | CFD | increasing a long position | 3,114 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 485 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 1,918 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 648 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 1,083 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 4,960 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 561 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 1,486 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 1,501 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 747 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 997 | 4.0676 GBP |
25p ordinary | CFD | increasing a long position | 4,454 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 11,433 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 8,946 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 29,558 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 18,559 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 3,860 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 5,939 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 3,341 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 8,853 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 6,453 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 2,895 | 4.0717 GBP |
25p ordinary | CFD | increasing a long position | 7,019 | 4.0741 GBP |
25p ordinary | CFD | increasing a long position | 10,722 | 4.0741 GBP |
25p ordinary | CFD | increasing a long position | 11,886 | 4.0774 GBP |
25p ordinary | CFD | increasing a long position | 710 | 4.0775 GBP |
25p ordinary | CFD | increasing a long position | 616 | 4.0775 GBP |
25p ordinary | CFD | increasing a long position | 3,239 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 1,111 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 962 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 4,879 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 10,121 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 16,119 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 4,828 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 3,519 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 2,105 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 2,429 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 6,234 | 4.0776 GBP |
25p ordinary | CFD | increasing a long position | 5,154 | 4.0780 GBP |
25p ordinary | CFD | increasing a long position | 16 | 4.0800 GBP |
25p ordinary | CFD | increasing a long position | 36 | 4.0803 GBP |
25p ordinary | CFD | increasing a long position | 119 | 4.0803 GBP |
25p ordinary | CFD | increasing a long position | 36 | 4.0803 GBP |
25p ordinary | CFD | increasing a long position | 26 | 4.0804 GBP |
25p ordinary | CFD | increasing a long position | 46 | 4.0804 GBP |
25p ordinary | CFD | increasing a long position | 24 | 4.0804 GBP |
25p ordinary | CFD | increasing a long position | 75 | 4.0804 GBP |
25p ordinary | CFD | increasing a long position | 18 | 4.0806 GBP |
25p ordinary | CFD | increasing a long position | 13 | 4.0808 GBP |
25p ordinary | CFD | increasing a long position | 10 | 4.0810 GBP |
25p ordinary | CFD | increasing a long position | 2,242 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 7,673 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 19,840 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 4,331 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 1,943 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 5,942 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 12,457 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 2,591 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 3,986 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 2,990 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 6,004 | 4.0816 GBP |
25p ordinary | CFD | increasing a long position | 713 | 4.0820 GBP |
25p ordinary | CFD | increasing a long position | 1,516 | 4.0825 GBP |
25p ordinary | CFD | increasing a long position | 6,944 | 4.0825 GBP |
25p ordinary | CFD | increasing a long position | 2,080 | 4.0825 GBP |
25p ordinary | CFD | increasing a long position | 4,360 | 4.0825 GBP |
25p ordinary | CFD | increasing a long position | 907 | 4.0826 GBP |
25p ordinary | CFD | increasing a long position | 1,046 | 4.0826 GBP |
25p ordinary | CFD | increasing a long position | 785 | 4.0826 GBP |
25p ordinary | CFD | increasing a long position | 2,686 | 4.0826 GBP |
25p ordinary | CFD | increasing a long position | 2,102 | 4.0826 GBP |
25p ordinary | CFD | increasing a long position | 1,395 | 4.0826 GBP |
25p ordinary | CFD | increasing a long position | 679 | 4.0826 GBP |
25p ordinary | CFD | increasing a long position | 25,150 | 4.0829 GBP |
25p ordinary | CFD | increasing a long position | 7,453 | 4.0831 GBP |
25p ordinary | CFD | increasing a long position | 3,837 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 6,229 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 1,993 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 1,296 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 3,002 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 1,495 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 9,920 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 970 | 4.0835 GBP |
25p ordinary | CFD | increasing a long position | 2,166 | 4.0836 GBP |
25p ordinary | CFD | increasing a long position | 2,971 | 4.0836 GBP |
25p ordinary | CFD | increasing a long position | 1,121 | 4.0836 GBP |
25p ordinary | CFD | increasing a long position | 175,037 | 4.0846 GBP |
25p ordinary | CFD | increasing a long position | 219,723 | 4.0872 GBP |
25p ordinary | CFD | increasing a long position | 1,193 | 4.0888 GBP |
25p ordinary | CFD | increasing a long position | 1,889 | 4.0900 GBP |
25p ordinary | CFD | increasing a long position | 1,296 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 9,920 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 1,495 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 2,166 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 3,002 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 970 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 3,837 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 1,993 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 2,971 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 6,229 | 4.0935 GBP |
25p ordinary | CFD | increasing a long position | 1,121 | 4.0936 GBP |
25p ordinary | CFD | increasing a long position | 2,317 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 2,518 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 11,534 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 7,242 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 3,455 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 4,461 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 1,304 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 1,506 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 1,130 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 3,491 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 1,738 | 4.0942 GBP |
25p ordinary | CFD | increasing a long position | 433 | 4.1034 GBP |
25p ordinary | CFD | increasing a long position | 3,356 | 4.1036 GBP |
25p ordinary | CFD | increasing a long position | 32,447 | 4.1172 GBP |
25p ordinary | CFD | increasing a long position | 8,465 | 4.1187 GBP |
25p ordinary | CFD | increasing a long position | 3,052 | 4.1314 GBP |
25p ordinary | CFD | increasing a long position | 1,478 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 884 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 2,028 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 6,772 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 663 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 4,251 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 2,619 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 1,360 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 765 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 1,020 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 2,049 | 4.1409 GBP |
25p ordinary | CFD | increasing a long position | 10,719 | 4.1428 GBP |
25p ordinary | CFD | increasing a long position | 38,905 | 4.1560 GBP |
25p ordinary | CFD | increasing a long position | 410 | 4.1568 GBP |
25p ordinary | CFD | increasing a short position | 3,152 | 4.0802 GBP |
25p ordinary | CFD | increasing a short position | 7,624 | 4.0814 GBP |
25p ordinary | CFD | increasing a short position | 13,473 | 4.0836 GBP |
25p ordinary | CFD | increasing a short position | 82,676 | 4.0873 GBP |
25p ordinary | CFD | increasing a short position | 2,749 | 4.0984 GBP |
25p ordinary | CFD | increasing a short position | 13,878 | 4.1431 GBP |
25p ordinary | CFD | increasing a short position | 52,355 | 4.1560 GBP |
25p ordinary | CFD | reducing a long position | 263 | 4.0740 GBP |
25p ordinary | CFD | reducing a long position | 3,980 | 4.0742 GBP |
25p ordinary | CFD | reducing a long position | 6,079 | 4.0742 GBP |
25p ordinary | CFD | reducing a long position | 19,739 | 4.0780 GBP |
25p ordinary | CFD | reducing a long position | 138,429 | 4.0792 GBP |
25p ordinary | CFD | reducing a long position | 2,342 | 4.0807 GBP |
25p ordinary | CFD | reducing a long position | 119,514 | 4.0830 GBP |
25p ordinary | CFD | reducing a long position | 63,508 | 4.0830 GBP |
25p ordinary | CFD | reducing a long position | 1,977 | 4.0830 GBP |
25p ordinary | CFD | reducing a long position | 4,123 | 4.0835 GBP |
25p ordinary | CFD | reducing a long position | 11,888 | 4.0852 GBP |
25p ordinary | CFD | reducing a long position | 632 | 4.0865 GBP |
25p ordinary | CFD | reducing a long position | 1,354 | 4.0865 GBP |
25p ordinary | CFD | reducing a long position | 285 | 4.0870 GBP |
25p ordinary | CFD | reducing a long position | 35,235 | 4.0873 GBP |
25p ordinary | CFD | reducing a long position | 8,240 | 4.0874 GBP |
25p ordinary | CFD | reducing a long position | 144 | 4.0875 GBP |
25p ordinary | CFD | reducing a long position | 40,036 | 4.0931 GBP |
25p ordinary | CFD | reducing a long position | 6,720 | 4.0952 GBP |
25p ordinary | CFD | reducing a long position | 96 | 4.1019 GBP |
25p ordinary | CFD | reducing a long position | 148 | 4.1020 GBP |
25p ordinary | CFD | reducing a long position | 101 | 4.1020 GBP |
25p ordinary | CFD | reducing a long position | 96 | 4.1202 GBP |
25p ordinary | CFD | reducing a long position | 1,166 | 4.1202 GBP |
25p ordinary | CFD | reducing a long position | 27,801 | 4.1462 GBP |
25p ordinary | CFD | reducing a long position | 27,382 | 4.1526 GBP |
25p ordinary | CFD | reducing a long position | 1 | 4.1560 GBP |
25p ordinary | CFD | reducing a long position | 769 | 4.1560 GBP |
25p ordinary | CFD | reducing a long position | 15 | 4.1560 GBP |
25p ordinary | CFD | reducing a long position | 1,179 | 4.1569 GBP |
25p ordinary | CFD | reducing a long position | 3,608 | 4.1569 GBP |
25p ordinary | CFD | reducing a long position | 4,719 | 4.1569 GBP |
25p ordinary | CFD | reducing a long position | 2,331 | 4.1586 GBP |
25p ordinary | CFD | reducing a long position | 111 | 4.1660 GBP |
25p ordinary | CFD | reducing a long position | 70 | 4.1700 GBP |
25p ordinary | CFD | reducing a short position | 4,348 | 4.0874 GBP |
25p ordinary | CFD | reducing a short position | 74,885 | 4.0920 GBP |
25p ordinary | CFD | reducing a short position | 18,162 | 4.0921 GBP |
25p ordinary | CFD | reducing a short position | 17,951 | 4.1033 GBP |
25p ordinary | CFD | reducing a short position | 82,676 | 4.1187 GBP |
25p ordinary | CFD | reducing a short position | 2,099 | 4.1580 GBP |
25p ordinary | CFD | reducing a short position | 758 | 4.1660 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: | 30 January 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