23rd Sep 2025 14:13
AMENDMENT
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: | 19 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 | 716,697 | 40.9282 GBP | 40.8200 GBP |
| Sale | 170,482 | 40.9400 GBP | 40.8394 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 | 4 41,966 3,000 2,660 1,000 1,803 3,929 5,701 12,457 78
3,147 14 7 18,683 1,992
241 11,178 37
8,145 73 45,369 1,102 449 8,910 125,935 48,111 26 3,030 2 428 22 52,193 183 2
64,423 66,655 | 40.8450 GBP 40.8600 GBP 40.8729 GBP 40.8867 GBP 40.8871 GBP 40.8937 GBP 40.8986 GBP 40.9241 GBP 40.9261 GBP 40.9282 GBP
40.8453 GBP 40.8702 GBP 40.8800 GBP 40.9159 GBP 40.9194 GBP
40.8559 GBP 40.8986 GBP 40.9182 GBP
40.8251 GBP 40.8412 GBP 40.8451 GBP 40.8488 GBP 40.8495 GBP 40.8590 GBP 40.8644 GBP 40.8677 GBP 40.8695 GBP 40.8811 GBP 40.8941 GBP 40.9028 GBP 40.9099 GBP 40.9200 GBP 40.9206 GBP 40.9251 GBP
40.8739 GBP 40.9062 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: | 23 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