3rd Sep 2025 11:21
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: | 02 September 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 | 158,327 | 40.5400 GBP | 40.4400 GBP |
Sale | 76,255 | 40.5600 GBP | 40.4400 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 | 8,000 | 40.4962 GBP |
6,100 | 40.5005 GBP | |||
423 | 40.5199 GBP | |||
285 | 40.5221 GBP | |||
36 | 40.5242 GBP | |||
Decrease Short | 788 | 40.4734 GBP | ||
1,293 | 40.4960 GBP | |||
7,811 | 40.4970 GBP | |||
5 | 40.4982 GBP | |||
643 | 40.4994 GBP | |||
8,069 | 40.5000 GBP | |||
5,075 | 40.5034 GBP | |||
800 | 40.5038 GBP | |||
5,071 | 40.5068 GBP | |||
12 | 40.5182 GBP | |||
112 | 40.5192 GBP | |||
158 | 40.5247 GBP | |||
382 | 40.5282 GBP | |||
10,000 | 40.5370 GBP | |||
259 | 40.5388 GBP | |||
1,469 | 40.5398 GBP | |||
Increase Long | 1,900 | 40.4898 GBP | ||
41 | 40.4939 GBP | |||
600 | 40.4972 GBP | |||
4,401 | 40.4980 GBP | |||
649 | 40.4991 GBP | |||
113 | 40.5004 GBP | |||
38 | 40.5006 GBP | |||
Increase Short | 13 | 40.4612 GBP | ||
160 | 40.4707 GBP | |||
4,842 | 40.5000 GBP | |||
111 | 40.5006 GBP | |||
80 | 40.5007 GBP | |||
2,270 | 40.5076 GBP | |||
2,681 | 40.5178 GBP | |||
73,600 | 40.5203 GBP | |||
31 | 40.5206 GBP | |||
10,000 | 40.5241 GBP | |||
559 | 40.5258 GBP | |||
4 | 40.5291 GBP | |||
10,000 | 40.5380 GBP | |||
146 | 40.5400 GBP | |||
19,441 | 40.5427 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: | 03 September 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