30th Jul 2025 11:16
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 Kohlberg Kravis Roberts & Co. L.P |
(d) Date dealing undertaken: | 29 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 |
5p ordinary | Purchase
Sale | 753,841
703,625 | 39.8869 GBP
39.9000 GBP | 39.7400 GBP
39.7388 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
| 28 163 1,100 24 8,724 341 381 514 7 3,234 1,583
28 2,180 224 16 206 146 2,200 8 14,547
200 1 2 80 43
1,685 316 960 25,000 848 1 11,335 4,079 353 4,663 1,498 | 39.7604 GBP 39.7653 GBP 39.7821 GBP 39.8168 GBP 39.8424 GBP 39.8469 GBP 39.8668 GBP 39.8677 GBP 39.8743 GBP 39.8779 GBP 39.8869 GBP
39.7388 GBP 39.7585 GBP 39.7702 GBP 39.7748 GBP 39.7792 GBP 39.7988 GBP 39.8337 GBP 39.8794 GBP 39.8800 GBP
39.7855 GBP 39.7982 GBP 39.8000 GBP 39.8636 GBP 39.8800 GBP
39.7494 GBP 39.7528 GBP 39.7831 GBP 39.7946 GBP 39.8012 GBP 39.8140 GBP 39.8199 GBP 39.8468 GBP 39.8596 GBP 39.8800 GBP 39.8840 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: | 30 July 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