4th Jul 2025 15:09
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: | 2 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 | 2,935,710
1,828,080 | 40.5000 GBP
40.5000 GBP | 39.6400 GBP
39.7194 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
| 134 9,788 3 18,407 549 2,057 77 104 52 216 2,453
512 404 1,107 1,553 372 1 45,000 2,131 186 2,912 49,824 6 14,442 21,000 906 10,867 134,162 32,041
31 9,650 2,703 10 3,800 1,095 858 408 815 3,110 117 500 7,001 10,926
25,000 25,000 1,040 4,613 6,468 25,000 829 2,380 25,000 1,657 7,000 45,000 50,000 1,243 829 55,000 160,300 2,213 2,213 25,000 125,000 23,469 1 91,000 672 15,380 24,785 4,024 50,000 20,966 149,293 50,000 50,000 100,000 15,000 135,000 15,000 50,000
131,606 4 732 4 4 1,589 3,178 8 4 14,060 4 5 22,171 13,680 | 39.7200 GBP 39.7204 GBP 39.7228 GBP 39.7337 GBP 39.7697 GBP 39.8517 GBP 39.8821 GBP 39.9212 GBP 39.9362 GBP 40.0012 GBP 40.0202 GBP
39.7160 GBP 39.7194 GBP 39.8918 GBP 39.9199 GBP 39.9660 GBP 39.9760 GBP 39.9767 GBP 39.9887 GBP 39.9900 GBP 39.9985 GBP 40.0017 GBP 40.0183 GBP 40.0244 GBP 40.1090 GBP 40.1759 GBP 40.2508 GBP 40.3798 GBP 54.8745 GBP
39.7182 GBP 39.7200 GBP 39.7315 GBP 39.7700 GBP 39.8655 GBP 39.8775 GBP 39.8842 GBP 39.8979 GBP 39.9009 GBP 39.9025 GBP 39.9920 GBP 40.0667 GBP 40.1559 GBP 40.1879 GBP
39.7030 GBP 39.7199 GBP 39.7206 GBP 39.7250 GBP 39.7796 GBP 39.8199 GBP 39.8679 GBP 39.8723 GBP 39.8805 GBP 39.8875 GBP 39.8894 GBP 39.8999 GBP 39.9030 GBP 39.9158 GBP 39.9179 GBP 39.9277 GBP 39.9299 GBP 39.9608 GBP 39.9612 GBP 40.0021 GBP 40.0030 GBP 40.0061 GBP 40.0240 GBP 40.0263 GBP 40.0493 GBP 40.0500 GBP 40.0540 GBP 40.0750 GBP 40.1030 GBP 40.1070 GBP 40.1401 GBP 40.2026 GBP 40.2030 GBP 40.3030 GBP 40.3202 GBP 40.4202 GBP 40.4404 GBP 40.5203 GBP
39.7200 GBP 39.8440 GBP 39.8498 GBP 39.8840 GBP 39.9040 GBP 39.9070 GBP 39.9141 GBP 39.9840 GBP 40.0040 GBP 40.0080 GBP 40.0240 GBP 40.0640 GBP 40.0664 GBP 40.2356 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: | 4 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