23rd Mar 2026 13:21
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: | 19 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 | 1,461,222 | 3.6760 GBP | 3.5819 GBP |
25p ordinary | PURCHASES | 1,281,568 | 3.6883 GBP | 3.5817 GBP |
25p ordinary | PURCHASES | 48 | 4.8260 USD | 4.8260 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 | 59 | 3.5820 GBP |
25p ordinary | CFD | increasing a long position | 17 | 3.5820 GBP |
25p ordinary | CFD | increasing a long position | 973 | 3.5820 GBP |
25p ordinary | CFD | increasing a long position | 6,519 | 3.5858 GBP |
25p ordinary | CFD | increasing a long position | 86,708 | 3.5858 GBP |
25p ordinary | CFD | increasing a long position | 2,469 | 3.5871 GBP |
25p ordinary | CFD | increasing a long position | 5,890 | 3.5897 GBP |
25p ordinary | CFD | increasing a long position | 1,560 | 3.5897 GBP |
25p ordinary | CFD | increasing a long position | 34,232 | 3.5897 GBP |
25p ordinary | CFD | increasing a long position | 8,098 | 3.5897 GBP |
25p ordinary | CFD | increasing a long position | 5,292 | 3.5897 GBP |
25p ordinary | CFD | increasing a long position | 25,270 | 3.5920 GBP |
25p ordinary | CFD | increasing a long position | 2,697 | 3.5954 GBP |
25p ordinary | CFD | increasing a long position | 100 | 3.5997 GBP |
25p ordinary | CFD | increasing a long position | 2 | 3.6060 GBP |
25p ordinary | CFD | increasing a long position | 1,686 | 3.6087 GBP |
25p ordinary | CFD | increasing a long position | 9,827 | 3.6289 GBP |
25p ordinary | CFD | increasing a long position | 15,038 | 3.6289 GBP |
25p ordinary | CFD | increasing a long position | 63,574 | 3.6289 GBP |
25p ordinary | CFD | increasing a long position | 10,934 | 3.6289 GBP |
25p ordinary | CFD | increasing a long position | 2,895 | 3.6289 GBP |
25p ordinary | CFD | increasing a long position | 73 | 3.6686 GBP |
25p ordinary | CFD | increasing a long position | 4,806 | 3.6722 GBP |
25p ordinary | CFD | increasing a short position | 2,125 | 3.5820 GBP |
25p ordinary | CFD | increasing a short position | 38,323 | 3.5820 GBP |
25p ordinary | CFD | increasing a short position | 617 | 3.5820 GBP |
25p ordinary | CFD | increasing a short position | 5,168 | 3.5831 GBP |
25p ordinary | CFD | increasing a short position | 2,176 | 3.5831 GBP |
25p ordinary | CFD | increasing a short position | 6,513 | 3.5831 GBP |
25p ordinary | CFD | increasing a short position | 72,055 | 3.5897 GBP |
25p ordinary | CFD | increasing a short position | 1,348 | 3.5920 GBP |
25p ordinary | CFD | increasing a short position | 172 | 3.5962 GBP |
25p ordinary | CFD | increasing a short position | 967 | 3.5993 GBP |
25p ordinary | CFD | increasing a short position | 48 | 3.6102 GBP |
25p ordinary | CFD | increasing a short position | 5,366 | 3.6110 GBP |
25p ordinary | CFD | increasing a short position | 3,879 | 3.6110 GBP |
25p ordinary | CFD | increasing a short position | 839 | 3.6110 GBP |
25p ordinary | CFD | increasing a short position | 7,071 | 3.6110 GBP |
25p ordinary | CFD | increasing a short position | 2,242 | 3.6110 GBP |
25p ordinary | CFD | increasing a short position | 1,626 | 3.6140 GBP |
25p ordinary | CFD | increasing a short position | 40,334 | 3.6176 GBP |
25p ordinary | CFD | increasing a short position | 5,854 | 3.6180 GBP |
25p ordinary | CFD | increasing a short position | 3,815 | 3.6245 GBP |
25p ordinary | CFD | increasing a short position | 906 | 3.6254 GBP |
25p ordinary | CFD | increasing a short position | 976 | 3.6280 GBP |
25p ordinary | CFD | increasing a short position | 752 | 3.6280 GBP |
25p ordinary | CFD | increasing a short position | 6,567 | 3.6298 GBP |
25p ordinary | CFD | increasing a short position | 25,622 | 3.6316 GBP |
25p ordinary | CFD | increasing a short position | 231,561 | 3.6325 GBP |
25p ordinary | CFD | increasing a short position | 106,207 | 3.6325 GBP |
25p ordinary | CFD | increasing a short position | 79,234 | 3.6335 GBP |
25p ordinary | CFD | increasing a short position | 2,663 | 3.6352 GBP |
25p ordinary | CFD | increasing a short position | 9,516 | 3.6391 GBP |
25p ordinary | CFD | increasing a short position | 18,805 | 3.6391 GBP |
25p ordinary | CFD | increasing a short position | 20,334 | 3.6494 GBP |
25p ordinary | CFD | increasing a short position | 44,333 | 3.6494 GBP |
25p ordinary | CFD | increasing a short position | 3,151 | 3.6631 GBP |
25p ordinary | CFD | increasing a short position | 2,074 | 3.6631 GBP |
25p ordinary | CFD | increasing a short position | 7,900 | 3.6634 GBP |
25p ordinary | CFD | increasing a short position | 1,313 | 3.6645 GBP |
25p ordinary | CFD | increasing a short position | 2,862 | 3.6645 GBP |
25p ordinary | CFD | increasing a short position | 1,000 | 3.6647 GBP |
25p ordinary | CFD | increasing a short position | 504 | 3.6660 GBP |
25p ordinary | CFD | increasing a short position | 11,296 | 3.6672 GBP |
25p ordinary | CFD | increasing a short position | 24,630 | 3.6672 GBP |
25p ordinary | CFD | reducing a long position | 20 | 3.5820 GBP |
25p ordinary | CFD | reducing a long position | 4,092 | 3.5820 GBP |
25p ordinary | CFD | reducing a long position | 3,097 | 3.5820 GBP |
25p ordinary | CFD | reducing a long position | 16,147 | 3.5821 GBP |
25p ordinary | CFD | reducing a long position | 70,205 | 3.5836 GBP |
25p ordinary | CFD | reducing a long position | 48,550 | 3.5838 GBP |
25p ordinary | CFD | reducing a long position | 42,211 | 3.5985 GBP |
25p ordinary | CFD | reducing a long position | 3,223 | 3.5990 GBP |
25p ordinary | CFD | reducing a long position | 12,150 | 3.6096 GBP |
25p ordinary | CFD | reducing a long position | 73,285 | 3.6236 GBP |
25p ordinary | CFD | reducing a long position | 63,814 | 3.6296 GBP |
25p ordinary | CFD | reducing a long position | 2,062 | 3.6308 GBP |
25p ordinary | CFD | reducing a long position | 962 | 3.6311 GBP |
25p ordinary | CFD | reducing a long position | 229,367 | 3.6314 GBP |
25p ordinary | CFD | reducing a long position | 13,572 | 3.6342 GBP |
25p ordinary | CFD | reducing a long position | 220 | 3.6385 GBP |
25p ordinary | CFD | reducing a long position | 11,512 | 3.6464 GBP |
25p ordinary | CFD | reducing a long position | 1,390 | 3.6631 GBP |
25p ordinary | CFD | reducing a long position | 2,112 | 3.6631 GBP |
25p ordinary | CFD | reducing a long position | 6,280 | 3.6669 GBP |
25p ordinary | CFD | reducing a long position | 58 | 3.6885 GBP |
25p ordinary | CFD | reducing a short position | 141 | 3.5820 GBP |
25p ordinary | CFD | reducing a short position | 38,323 | 3.5820 GBP |
25p ordinary | CFD | reducing a short position | 22 | 3.5820 GBP |
25p ordinary | CFD | reducing a short position | 212,205 | 3.5820 GBP |
25p ordinary | CFD | reducing a short position | 12,468 | 3.5823 GBP |
25p ordinary | CFD | reducing a short position | 6,040 | 3.5846 GBP |
25p ordinary | CFD | reducing a short position | 1,880 | 3.5920 GBP |
25p ordinary | CFD | reducing a short position | 2,981 | 3.5941 GBP |
25p ordinary | CFD | reducing a short position | 50,000 | 3.6040 GBP |
25p ordinary | CFD | reducing a short position | 1,159 | 3.6312 GBP |
25p ordinary | CFD | reducing a short position | 2,971 | 3.6326 GBP |
25p ordinary | CFD | reducing a short position | 1,955 | 3.6326 GBP |
25p ordinary | CFD | reducing a short position | 12,033 | 3.6340 GBP |
25p ordinary | CFD | reducing a short position | 3,758 | 3.6370 GBP |
25p ordinary | CFD | reducing a short position | 77,520 | 3.6530 GBP |
25p ordinary | CFD | reducing a short position | 14,720 | 3.6592 GBP |
25p ordinary | CFD | reducing a short position | 617 | 3.6655 GBP |
25p ordinary | CFD | reducing a short position | 58 | 3.6720 GBP |
25p ordinary | CFD | reducing a short position | 88 | 3.6721 GBP |
25p ordinary | CFD | reducing a short position | 211 | 3.6760 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: | 23 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