FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)
1. KEY INFORMATION
(a) Full name of discloser: HBK Services LLC, on behalf of itself,
its subadvisors and its managed funds
(b) Owner or controller of interests
and short positions disclosed, if
different from 1(a): The naming
of nominee or vehicle companies is
insufficient. For a trust, the trustee N/A
(s), settlor and beneficiaries must be
named.
(c) Name of offeror/offeree in
relation to whose relevant securities
this form relates: Use a separate Schroders Plc
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security: 20p Ordinary
Interests Short
positions
Number % Number %
(1) Relevant securities owned and/or 100 0.00%
controlled:
(2) Cash-settled derivatives: 28,734,262 1.78%
(3) Stock-settled derivatives (including
options) and agreements to purchase/sell:
TOTAL: 28,734,362 1.78%
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b) Rights to subscribe for new securities (including directors’ and other employee options)
Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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 Purchase/sale Number of securities Price per unit security
(b) Cash-settled derivative transactions
Nature of dealing
e.g.
Class of Product opening/closing a Number of
relevant description long/short reference Price per unit
security e.g. CFD position, securities
increasing/reducing
a long/short
position
20p Ordinary Total Return Reducing a long 3,778 GBP 5.7800
Swap position
20p Ordinary Total Return Reducing a long 996,222 GBP 5.7800
Swap position
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Writing, Number Type Option
Class Product purchasing, of e.g. money
of description selling, securities Exercise American, Expiry paid/
relevant e.g. call varying to which price European date received
security option etc. option per unit etc. per unit
relates
(ii) Exercise
Class of Product Exercising/ Number of Exercise
relevant security description exercised against securities price per unit
e.g. call option
(d) Other dealings (including subscribing for new securities)
Class of relevant Nature of dealing Price per unit (if
security e.g. subscription, Details applicable)
conversion
4. 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 person 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”
(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person 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”
(c) Attachments
Is a Supplemental Form 8 (Open Positions) attached? NO
3 April 2026
Date of disclosure:
Jonathan Brown
Contact name:
+44 (0)20 7659 1906
Telephone number*:
Public disclosures under Rule 8 of the Code must be made to a
The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.
The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
