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 |
Beazley plc |
|
(c) Name of the party to the offer with which exempt principal trader is connected: |
Corporate Broker and Financial Adviser to Beazley Plc |
|
(d) Date dealing undertaken: |
17 February 2026 |
|
(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 |
1,238,361 |
12.2386 GBP |
12.1200 GBP |
Sale |
|
|
|
(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 |
224 |
12.1206 GBP |
|
|
|
30,297 |
12.1238 GBP |
|
|
|
|
20,071 |
12.1468 GBP |
|
|
|
|
400 |
12.1575 GBP |
|
|
|
|
375 |
12.1754 GBP |
|
|
|
|
46,137 |
12.1796 GBP |
|
|
|
|
1 |
12.2112 GBP |
|
|
|
|
8,005 |
12.2167 GBP |
|
|
|
|
|
||
|
|
|
4,477 |
12.1200 GBP |
|
|
|
|
6,874 |
12.1305 GBP |
|
|
|
|
346 |
12.1306 GBP |
|
|
|
|
990 |
12.1438 GBP |
|
|
|
|
25,110 |
12.1481 GBP |
|
|
|
|
4,934 |
12.1497 GBP |
|
|
|
|
944 |
12.1514 GBP |
|
|
|
|
803 |
12.1558 GBP |
|
|
|
|
22,686 |
12.1564 GBP |
|
|
|
|
2,092 |
12.1600 GBP |
|
|
|
|
15 |
12.1770 GBP |
|
|
|
|
11,555 |
12.1897 GBP |
|
|
|
|
1,192 |
12.2005 GBP |
|
|
|
|
4,526 |
12.2039 GBP |
|
|
|
|
2,073 |
12.2181 GBP |
|
|
|
|
2,000 |
12.2192 GBP |
|
|
|
|
4 |
12.2248 GBP |
|
|
|
|
2,884 |
12.2409 GBP |
|
|
|
|
|
||
|
|
|
1,313 |
12.1332 GBP |
|
|
|
|
4,176 |
12.1452 GBP |
|
|
|
|
|
||
|
|
|
2,547 |
12.1202 GBP |
|
|
|
|
13,894 |
12.1206 GBP |
|
|
|
|
303 |
12.1242 GBP |
|
|
|
|
244 |
12.1243 GBP |
|
|
|
|
28,320 |
12.1267 GBP |
|
|
|
|
40,423 |
12.1268 GBP |
|
|
|
|
31,511 |
12.1304 GBP |
|
|
|
|
2,156 |
12.1332 GBP |
|
|
|
|
5,899 |
12.1407 GBP |
|
|
|
|
684 |
12.1412 GBP |
|
|
|
|
5,231 |
12.1464 GBP |
|
|
|
|
2,247 |
12.1475 GBP |
|
|
|
|
25,399 |
12.1491 GBP |
|
|
|
|
5,878 |
12.1505 GBP |
|
|
|
|
142,324 |
12.1508 GBP |
|
|
|
|
6,400 |
12.1521 GBP |
|
|
|
|
17,142 |
12.1558 GBP |
|
|
|
|
30,000 |
12.1565 GBP |
|
|
|
|
5,407 |
12.1598 GBP |
|
|
|
|
9,229 |
12.1634 GBP |
|
|
|
|
10,233 |
12.1657 GBP |
|
|
|
|
932 |
12.1748 GBP |
|
|
|
|
283 |
12.1758 GBP |
|
|
|
|
11,568 |
12.1904 GBP |
|
|
|
|
1,653 |
12.2079 GBP |
|
|
|
|
4 |
12.2252 GBP |
|
|
|
|
97,551 |
12.2266 GBP |
|
|
|
|
545 |
12.2379 GBP |
|
|
|
|
94,333 |
12.2386 GBP |
|
|
|
|
|
||
|
|
|
6,051 |
12.1301 GBP |
|
|
|
|
85 |
12.1496 GBP |
|
|
|
|
1,766 |
12.1656 GBP |
|
|
|
|
|
||
|
|
|
644 |
12.1671 GBP |
|
|
|
|
310 |
12.1931 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 |
|
|
|
|
|
|
(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) |
|
|
|
|
|
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: |
18 February 2026 |
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.
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