20th Apr 2026 14:55
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: | 16 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 | 1,115,686 | 4.0108 GBP | 3.9290 GBP |
25p ordinary | PURCHASES | 1,291,969 | 4.0210 GBP | 3.9264 GBP |
25p ordinary | SALES | 44 | 5.3811 USD | 5.3811 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 | 6,466 | 3.9302 GBP |
25p ordinary | CFD | increasing a long position | 144,552 | 3.9302 GBP |
25p ordinary | CFD | increasing a long position | 26,490 | 3.9302 GBP |
25p ordinary | CFD | increasing a long position | 1,827 | 3.9320 GBP |
25p ordinary | CFD | increasing a long position | 22,264 | 3.9320 GBP |
25p ordinary | CFD | increasing a long position | 2,038 | 3.9320 GBP |
25p ordinary | CFD | increasing a long position | 43,015 | 3.9361 GBP |
25p ordinary | CFD | increasing a long position | 7,882 | 3.9361 GBP |
25p ordinary | CFD | increasing a long position | 1,923 | 3.9361 GBP |
25p ordinary | CFD | increasing a long position | 25,846 | 3.9368 GBP |
25p ordinary | CFD | increasing a long position | 486 | 3.9419 GBP |
25p ordinary | CFD | increasing a long position | 110,619 | 3.9420 GBP |
25p ordinary | CFD | increasing a long position | 36 | 3.9420 GBP |
25p ordinary | CFD | increasing a long position | 1,657 | 3.9420 GBP |
25p ordinary | CFD | increasing a long position | 7,617 | 3.9447 GBP |
25p ordinary | CFD | increasing a long position | 6,379 | 3.9478 GBP |
25p ordinary | CFD | increasing a long position | 1,168 | 3.9478 GBP |
25p ordinary | CFD | increasing a long position | 285 | 3.9478 GBP |
25p ordinary | CFD | increasing a long position | 10,029 | 3.9553 GBP |
25p ordinary | CFD | increasing a long position | 10,397 | 3.9578 GBP |
25p ordinary | CFD | increasing a long position | 6,885 | 3.9578 GBP |
25p ordinary | CFD | increasing a long position | 109,662 | 3.9635 GBP |
25p ordinary | CFD | increasing a long position | 4,878 | 3.9635 GBP |
25p ordinary | CFD | increasing a long position | 19,990 | 3.9635 GBP |
25p ordinary | CFD | increasing a long position | 9,462 | 3.9732 GBP |
25p ordinary | CFD | increasing a long position | 29,130 | 3.9862 GBP |
25p ordinary | CFD | increasing a long position | 24,310 | 3.9897 GBP |
25p ordinary | CFD | increasing a long position | 2,083 | 3.9918 GBP |
25p ordinary | CFD | increasing a long position | 3,818 | 3.9918 GBP |
25p ordinary | CFD | increasing a long position | 226 | 4.0032 GBP |
25p ordinary | CFD | increasing a long position | 1,471 | 4.0078 GBP |
25p ordinary | CFD | increasing a long position | 130 | 4.0078 GBP |
25p ordinary | CFD | increasing a long position | 861 | 4.0079 GBP |
25p ordinary | CFD | increasing a long position | 351 | 4.0079 GBP |
25p ordinary | CFD | increasing a long position | 121 | 4.0079 GBP |
25p ordinary | CFD | increasing a short position | 1,899 | 3.9316 GBP |
25p ordinary | CFD | increasing a short position | 14,545 | 3.9320 GBP |
25p ordinary | CFD | increasing a short position | 11,584 | 3.9320 GBP |
25p ordinary | CFD | increasing a short position | 101 | 3.9335 GBP |
25p ordinary | CFD | increasing a short position | 957 | 3.9350 GBP |
25p ordinary | CFD | increasing a short position | 357 | 3.9390 GBP |
25p ordinary | CFD | increasing a short position | 66,533 | 3.9420 GBP |
25p ordinary | CFD | increasing a short position | 1,156 | 3.9420 GBP |
25p ordinary | CFD | increasing a short position | 1,134 | 3.9420 GBP |
25p ordinary | CFD | increasing a short position | 3,729 | 3.9424 GBP |
25p ordinary | CFD | increasing a short position | 30,897 | 3.9467 GBP |
25p ordinary | CFD | increasing a short position | 5,641 | 3.9505 GBP |
25p ordinary | CFD | increasing a short position | 407 | 3.9600 GBP |
25p ordinary | CFD | increasing a short position | 219 | 3.9736 GBP |
25p ordinary | CFD | increasing a short position | 29,175 | 3.9760 GBP |
25p ordinary | CFD | increasing a short position | 100 | 3.9787 GBP |
25p ordinary | CFD | reducing a long position | 674 | 3.9264 GBP |
25p ordinary | CFD | reducing a long position | 1,538 | 3.9339 GBP |
25p ordinary | CFD | reducing a long position | 1,019 | 3.9340 GBP |
25p ordinary | CFD | reducing a long position | 5,994 | 3.9355 GBP |
25p ordinary | CFD | reducing a long position | 5,550 | 3.9384 GBP |
25p ordinary | CFD | reducing a long position | 3,029 | 3.9384 GBP |
25p ordinary | CFD | reducing a long position | 17,026 | 3.9420 GBP |
25p ordinary | CFD | reducing a long position | 110,619 | 3.9420 GBP |
25p ordinary | CFD | reducing a long position | 5 | 3.9420 GBP |
25p ordinary | CFD | reducing a long position | 60,636 | 3.9420 GBP |
25p ordinary | CFD | reducing a long position | 295 | 3.9420 GBP |
25p ordinary | CFD | reducing a long position | 7,312 | 3.9424 GBP |
25p ordinary | CFD | reducing a long position | 1 | 3.9430 GBP |
25p ordinary | CFD | reducing a long position | 25,152 | 3.9484 GBP |
25p ordinary | CFD | reducing a long position | 3,542 | 3.9505 GBP |
25p ordinary | CFD | reducing a long position | 16,445 | 3.9548 GBP |
25p ordinary | CFD | reducing a long position | 28,184 | 3.9581 GBP |
25p ordinary | CFD | reducing a long position | 2,246 | 3.9600 GBP |
25p ordinary | CFD | reducing a long position | 140 | 3.9600 GBP |
25p ordinary | CFD | reducing a long position | 573 | 3.9600 GBP |
25p ordinary | CFD | reducing a long position | 9,762 | 3.9602 GBP |
25p ordinary | CFD | reducing a long position | 87,264 | 3.9675 GBP |
25p ordinary | CFD | reducing a long position | 45,676 | 3.9717 GBP |
25p ordinary | CFD | reducing a long position | 21,149 | 3.9743 GBP |
25p ordinary | CFD | reducing a long position | 6,048 | 3.9743 GBP |
25p ordinary | CFD | reducing a long position | 3,077 | 3.9752 GBP |
25p ordinary | CFD | reducing a long position | 114,719 | 3.9761 GBP |
25p ordinary | CFD | reducing a long position | 26,268 | 3.9777 GBP |
25p ordinary | CFD | reducing a long position | 19,276 | 3.9785 GBP |
25p ordinary | CFD | reducing a long position | 23,294 | 3.9794 GBP |
25p ordinary | CFD | reducing a long position | 231 | 3.9824 GBP |
25p ordinary | CFD | reducing a long position | 94,297 | 3.9918 GBP |
25p ordinary | CFD | reducing a short position | 18,679 | 3.9302 GBP |
25p ordinary | CFD | reducing a short position | 5,558 | 3.9361 GBP |
25p ordinary | CFD | reducing a short position | 1,408 | 3.9380 GBP |
25p ordinary | CFD | reducing a short position | 438 | 3.9383 GBP |
25p ordinary | CFD | reducing a short position | 13,212 | 3.9420 GBP |
25p ordinary | CFD | reducing a short position | 7 | 3.9420 GBP |
25p ordinary | CFD | reducing a short position | 982 | 3.9420 GBP |
25p ordinary | CFD | reducing a short position | 29,103 | 3.9420 GBP |
25p ordinary | CFD | reducing a short position | 22,580 | 3.9420 GBP |
25p ordinary | CFD | reducing a short position | 11,204 | 3.9420 GBP |
25p ordinary | CFD | reducing a short position | 2,851 | 3.9421 GBP |
25p ordinary | CFD | reducing a short position | 1,062 | 3.9421 GBP |
25p ordinary | CFD | reducing a short position | 2,331 | 3.9421 GBP |
25p ordinary | CFD | reducing a short position | 13 | 3.9428 GBP |
25p ordinary | CFD | reducing a short position | 824 | 3.9478 GBP |
25p ordinary | CFD | reducing a short position | 12,515 | 3.9507 GBP |
25p ordinary | CFD | reducing a short position | 116,351 | 3.9509 GBP |
25p ordinary | CFD | reducing a short position | 858 | 3.9510 GBP |
25p ordinary | CFD | reducing a short position | 16,188 | 3.9536 GBP |
25p ordinary | CFD | reducing a short position | 653 | 3.9556 GBP |
25p ordinary | CFD | reducing a short position | 14,362 | 3.9635 GBP |
25p ordinary | CFD | reducing a short position | 378 | 3.9635 GBP |
25p ordinary | CFD | reducing a short position | 92 | 3.9635 GBP |
25p ordinary | CFD | reducing a short position | 1,491 | 3.9635 GBP |
25p ordinary | CFD | reducing a short position | 2,829 | 3.9680 GBP |
25p ordinary | CFD | reducing a short position | 14,101 | 3.9693 GBP |
25p ordinary | CFD | reducing a short position | 2,398 | 3.9740 GBP |
25p ordinary | CFD | reducing a short position | 1,394 | 3.9763 GBP |
25p ordinary | CFD | reducing a short position | 44 | 3.9767 GBP |
25p ordinary | CFD | reducing a short position | 6,860 | 3.9777 GBP |
25p ordinary | CFD | reducing a short position | 16,124 | 3.9784 GBP |
25p ordinary | CFD | reducing a short position | 31,225 | 3.9848 GBP |
25p ordinary | CFD | reducing a short position | 1,783 | 3.9862 GBP |
25p ordinary | CFD | reducing a short position | 5,003 | 3.9998 GBP |
25p ordinary | CFD | reducing a short position | 28 | 4.0088 GBP |
25p ordinary | CFD | reducing a short position | 264 | 4.0107 GBP |
25p ordinary | CFD | reducing a short position | 123 | 4.0108 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: | 20 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