19th Jun 2025 10:55
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 | Spectris plc |
(c) Name of the party to the offer with which exempt principal trader is connected: | Financial advisor to KKR & CO INV. |
(d) Date dealing undertaken: | 18 June 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 |
5p ordinary | Purchase
Sale | 356,599
467,433 | 33.4750 GBP
33.4800 GBP | 32.9000 GBP
32.9800 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 |
5p ordinary | Equity Swap | Decrease Long
Decrease Short
Increase Long
Increase Short
Opening a Short Position
| 482 200 67 94 879 67 8 32 2,589 193 5,088
38 3,863 2 22,648 125 4,440 5,372 1,752 276 9,019 4,147 1,767 72 7,122 71 260 2,716 1,191 3,202 1,755 1,522
51 200 19,960 311 88 366 280 6,654 201 79 72
2,251 10,000 5,000 35 90 303 59 11 10,000 816 5,000 93 30 89 63 5,068 50,000
10,590 13,337 | 33.0434 GBP 33.0823 GBP 33.0930 GBP 33.1605 GBP 33.2381 GBP 33.2382 GBP 33.2386 GBP 33.2603 GBP 33.2887 GBP 33.3271 GBP 33.4600 GBP
33.0068 GBP 33.0841 GBP 33.0859 GBP 33.1003 GBP 33.1052 GBP 33.1056 GBP 33.1106 GBP 33.1278 GBP 33.1388 GBP 33.1430 GBP 33.1572 GBP 33.1723 GBP 33.1788 GBP 33.1850 GBP 33.2989 GBP 33.3307 GBP 33.3695 GBP 33.3779 GBP 33.4550 GBP 33.4567 GBP 33.4595 GBP
33.0553 GBP 33.0982 GBP 33.1066 GBP 33.1344 GBP 33.1597 GBP 33.3606 GBP 33.3829 GBP 33.4539 GBP 33.4567 GBP 33.4577 GBP 33.4588 GBP
32.9578 GBP 33.0165 GBP 33.0241 GBP 33.0410 GBP 33.0516 GBP 33.0602 GBP 33.1077 GBP 33.1633 GBP 33.1660 GBP 33.3001 GBP 33.3382 GBP 33.3831 GBP 33.4015 GBP 33.4210 GBP 33.4463 GBP 33.4605 GBP 33.4751 GBP
33.0792 GBP 33.3167 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 |
|
|
|
|
|
(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) |
|
|
|
|
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: | 19 June 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:
Spectris