30th Jun 2025 10:02
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 | Spectris plc |
(c) Name of the party to the offer with which exempt principal trader is connected: | Advent International, L.P. |
(d) Date dealing undertaken: | 27 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 | SALES | 104,551 | 38.9006 GBP | 38.5400 GBP |
5p ordinary | PURCHASES | 217,300 | 38.9200 GBP | 38.5387 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 | CFD | increasing a long position | 113 | 38.5400 GBP |
5p ordinary | CFD | increasing a long position | 203 | 38.7019 GBP |
5p ordinary | CFD | increasing a long position | 15 | 38.7400 GBP |
5p ordinary | CFD | increasing a long position | 1,478 | 38.7566 GBP |
5p ordinary | CFD | increasing a long position | 296 | 38.7912 GBP |
5p ordinary | CFD | increasing a long position | 122 | 38.8000 GBP |
5p ordinary | CFD | increasing a long position | 12 | 38.8800 GBP |
5p ordinary | CFD | increasing a short position | 21 | 38.5381 GBP |
5p ordinary | CFD | increasing a short position | 12,042 | 38.5400 GBP |
5p ordinary | CFD | increasing a short position | 817 | 38.5400 GBP |
5p ordinary | CFD | increasing a short position | 3,953 | 38.5400 GBP |
5p ordinary | CFD | increasing a short position | 9,059 | 38.5400 GBP |
5p ordinary | CFD | increasing a short position | 5,152 | 38.5400 GBP |
5p ordinary | CFD | increasing a short position | 922 | 38.5400 GBP |
5p ordinary | CFD | increasing a short position | 14,784 | 38.5400 GBP |
5p ordinary | CFD | increasing a short position | 416 | 38.5813 GBP |
5p ordinary | CFD | increasing a short position | 352 | 38.5848 GBP |
5p ordinary | CFD | increasing a short position | 637 | 38.5850 GBP |
5p ordinary | CFD | increasing a short position | 245 | 38.6069 GBP |
5p ordinary | CFD | increasing a short position | 18,886 | 38.6248 GBP |
5p ordinary | CFD | increasing a short position | 625 | 38.6698 GBP |
5p ordinary | CFD | increasing a short position | 50 | 38.7080 GBP |
5p ordinary | CFD | increasing a short position | 73 | 38.7380 GBP |
5p ordinary | CFD | increasing a short position | 36,124 | 38.7397 GBP |
5p ordinary | CFD | increasing a short position | 24,772 | 38.7397 GBP |
5p ordinary | CFD | increasing a short position | 5,357 | 38.7397 GBP |
5p ordinary | CFD | increasing a short position | 1,570 | 38.7397 GBP |
5p ordinary | CFD | increasing a short position | 3,670 | 38.7918 GBP |
5p ordinary | CFD | increasing a short position | 47 | 38.7979 GBP |
5p ordinary | CFD | increasing a short position | 1 | 38.8600 GBP |
5p ordinary | CFD | reducing a long position | 4 | 38.5400 GBP |
5p ordinary | CFD | reducing a long position | 46 | 38.5400 GBP |
5p ordinary | CFD | reducing a long position | 122 | 38.5400 GBP |
5p ordinary | CFD | reducing a long position | 1 | 38.5850 GBP |
5p ordinary | CFD | reducing a long position | 4,945 | 38.6654 GBP |
5p ordinary | CFD | reducing a long position | 120 | 38.6972 GBP |
5p ordinary | CFD | reducing a long position | 21 | 38.7175 GBP |
5p ordinary | CFD | reducing a long position | 27 | 38.7176 GBP |
5p ordinary | CFD | reducing a long position | 674 | 38.7180 GBP |
5p ordinary | CFD | reducing a long position | 61 | 38.7180 GBP |
5p ordinary | CFD | reducing a long position | 163 | 38.7180 GBP |
5p ordinary | CFD | reducing a long position | 638 | 38.7180 GBP |
5p ordinary | CFD | reducing a long position | 222 | 38.7180 GBP |
5p ordinary | CFD | reducing a long position | 398 | 38.7180 GBP |
5p ordinary | CFD | reducing a long position | 43 | 38.7182 GBP |
5p ordinary | CFD | reducing a long position | 15 | 38.7380 GBP |
5p ordinary | CFD | reducing a long position | 18 | 38.7468 GBP |
5p ordinary | CFD | reducing a long position | 22 | 38.7468 GBP |
5p ordinary | CFD | reducing a long position | 203 | 38.7979 GBP |
5p ordinary | CFD | reducing a short position | 41 | 38.5400 GBP |
5p ordinary | CFD | reducing a short position | 12,042 | 38.5400 GBP |
5p ordinary | CFD | reducing a short position | 73 | 38.5400 GBP |
5p ordinary | CFD | reducing a short position | 177 | 38.5400 GBP |
5p ordinary | CFD | reducing a short position | 201 | 38.5524 GBP |
5p ordinary | CFD | reducing a short position | 36,352 | 38.6638 GBP |
5p ordinary | CFD | reducing a short position | 47 | 38.7400 GBP |
5p ordinary | CFD | reducing a short position | 14 | 38.7443 GBP |
5p ordinary | CFD | reducing a short position | 3,793 | 38.7912 GBP |
5p ordinary | CFD | reducing a short position | 16,372 | 38.8227 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: | 30 June 2025 |
| Contact name: | Craig Horsley |
| Telephone number: | +44 141 245-7736 |
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.