Form 8.5 (EPT/NON-RI) - Aqua Acquisition Sub LLC

Morgan Stanley Europe SE

05 November 2025

 

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Name of exempt principal trader:	Morgan Stanley Europe SE
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	Aqua Acquisition Sub LLC (an indirect wholly-owned subsidiary of Qualcomm Incorporated)
(c) Name of the party to the offer with which exempt principal trader is connected:	Alphawave IP Group plc
(d) Date position held/dealing undertaken:      For an opening position disclosure, state the latest practicable date prior to the disclosure	04 November 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 the offer?      If it is a cash offer or possible cash offer, state "N/A"	YES - Alphawave IP Group plc

2.         POSITIONS OF THE EXEMPT PRINCIPAL TRADER

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(b), 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:	USD 0.0001 common
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00	0	0.00
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	200,000	0.02	200,000	0.02
TOTAL:	200,000	0.02	200,000	0.02

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:	NO
Details, including nature of the rights concerned and relevant percentages:	NO

3.         DEALINGS (IF ANY) 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 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 security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
USD 0.0001 common	PURCHASES	295	155.1600 EUR	153.0246 EUR
USD 0.0001 common	SALES	295	155.1600 EUR	153.0000 EUR
USD 0.0001 common	PURCHASES	66,854	179.0589 USD	172.8400 USD
USD 0.0001 common	SALES	66,854	179.0589 USD	172.8400 USD

(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
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MC2W7C8)	LONG	58	17.5000 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MC2W7C8)	SHORT	58	17.5000 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MG0D5N5)	LONG	150	1.5300 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MG0D5N5)	SHORT	150	1.5300 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MG4NZM4)	LONG	200	2.6300 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MG4NZM4)	SHORT	200	2.6300 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MJ7F3B0)	LONG	500	5.5000 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  DE000MJ7F3B0)	SHORT	500	5.5000 EUR
USD 0.0001 common	Constant Leverage Certificate (ISIN  GB00BTL00898)	LONG	13	218.3500 SEK
USD 0.0001 common	Constant Leverage Certificate (ISIN  GB00BTL00898)	SHORT	13	218.3500 SEK
USD 0.0001 common	Mini Future (ISIN  GB00BL011Q29)	LONG	32	95.0250 SEK
USD 0.0001 common	Mini Future (ISIN  GB00BL011Q29)	SHORT	12	93.2500 SEK
USD 0.0001 common	Mini Future (ISIN  GB00BL011Q29)	SHORT	5	95.4600 SEK
USD 0.0001 common	Mini Future (ISIN  GB00BL011Q29)	SHORT	15	96.3000 SEK
USD 0.0001 common	Miscellaneous Leverage Without Knock Out (ISIN  DE000MG60UT9)	LONG	1,000	0.2310 EUR
USD 0.0001 common	Miscellaneous Leverage Without Knock Out (ISIN  DE000MG60UT9)	SHORT	1,000	0.2310 EUR
USD 0.0001 common	Miscellaneous Leverage Without Knock Out (ISIN  DE000MG7UA20)	LONG	306	1.6300 EUR
USD 0.0001 common	Miscellaneous Leverage Without Knock Out (ISIN  DE000MG7UA20)	SHORT	306	1.6300 EUR
USD 0.0001 common	Miscellaneous Leverage Without Knock Out (ISIN  DE000MG8JBQ5)	LONG	5,000	0.1750 EUR
USD 0.0001 common	Miscellaneous Leverage Without Knock Out (ISIN  DE000MG8JBQ5)	SHORT	5,000	0.1750 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000ME2TD53)	LONG	3	4.7033 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000ME2TD53)	SHORT	3	4.7033 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK46269)	LONG	162	8.8100 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK46269)	SHORT	162	8.8100 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK4UDU3)	LONG	16	3.7200 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK4UDU3)	SHORT	16	3.7200 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK4UDV1)	LONG	3,448	3.5600 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK4UDV1)	SHORT	3,448	3.5600 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK5GST9)	LONG	250	3.3800 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK5GST9)	SHORT	250	3.3800 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK66945)	LONG	240	3.0883 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK66945)	SHORT	40	2.9300 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK66945)	SHORT	200	3.1200 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK6EL04)	LONG	446	2.7000 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK6EL04)	LONG	456	3.0800 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK6EL04)	LONG	446	3.1500 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK6EL04)	SHORT	902	2.8921 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK6EL04)	SHORT	446	3.1500 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK7Y3V3)	LONG	100	4.2200 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MK7Y3V3)	SHORT	100	4.2200 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM28T23)	LONG	2,000	2.4100 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM28T23)	LONG	2,000	2.4800 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM28T23)	SHORT	2,000	2.4100 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM28T23)	SHORT	2,000	2.4800 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM28T56)	LONG	700	2.2000 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM28T56)	SHORT	700	2.2000 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM5LAC1)	LONG	444	2.1800 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN  DE000MM5LAC1)	SHORT	444	2.1800 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN DE000MM1VU29)	LONG	515	2.6500 EUR
USD 0.0001 common	Open End Knock Out Warrant (ISIN DE000MM1VU29)	SHORT	515	2.6500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MB9KX99)	LONG	165	3.0400 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MB9KX99)	SHORT	165	3.0400 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	LONG	335	1.9200 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	LONG	525	1.9500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	LONG	1,520	1.9638 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	LONG	1,950	2.0141 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	LONG	1,680	2.0700 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	LONG	2,680	2.1000 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	SHORT	500	1.9300 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	SHORT	250	2.0100 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	SHORT	6,740	2.0412 EUR
USD 0.0001 common	Warrants  (ISIN  DE000ME65YX7)	SHORT	1,200	2.0500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG6M9D1)	LONG	20,000	0.4800 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG6M9D1)	SHORT	20,000	0.4800 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7C4Q5)	LONG	1,108	2.1500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7C4Q5)	SHORT	1,108	2.1500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CP58)	LONG	500	1.1500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CP58)	LONG	2,000	1.1600 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CP58)	SHORT	500	1.1500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CP58)	SHORT	2,000	1.1600 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CP90)	LONG	3,000	1.6200 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CP90)	SHORT	3,000	1.6200 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CPN9)	LONG	4,750	0.7211 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CPN9)	LONG	11,999	0.8200 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CPN9)	LONG	37,497	0.8244 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CPN9)	SHORT	2,250	0.7000 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CPN9)	SHORT	2,500	0.7400 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG7CPN9)	SHORT	49,496	0.8233 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	1,280	0.3500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	50,650	0.3700 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	31,500	0.4000 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	4,000	0.4100 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	1,100	0.4136 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	2,000	0.4300 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	7,000	0.4500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	LONG	18,300	0.4549 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	SHORT	97,530	0.3885 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	SHORT	1,200	0.4000 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG83VC5)	SHORT	17,100	0.4588 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG8J0R3)	LONG	330	1.4700 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MG8J0R3)	SHORT	330	1.4700 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	LONG	50	2.9100 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	LONG	2,150	2.9830 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	LONG	500	3.0000 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	LONG	7,000	3.0400 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	SHORT	700	2.9000 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	SHORT	650	2.9900 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	SHORT	7,550	3.0365 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MJ85PX2)	SHORT	800	3.0500 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MK8TSK5)	LONG	5,800	2.1700 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MK8TSK5)	SHORT	5,800	2.1700 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MK9KFP8)	LONG	300	3.7000 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MK9KFP8)	LONG	500	3.8800 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MK9KFP8)	LONG	145	3.9300 EUR
USD 0.0001 common	Warrants  (ISIN  DE000MK9KFP8)	SHORT	945	3.8305 EUR

(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

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 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

(c)        Attachments

Is a Supplemental Form 8 (Open Positions) attached?

YES

Date of disclosure:	05 November 2025
Contact name:	Claire Gordon
Telephone number:	[phone]

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 disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1.         KEY INFORMATION

Full name of person making disclosure:	Morgan Stanley Europe SE
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:	Aqua Acquisition Sub LLC (an indirect wholly-owned subsidiary of Qualcomm Incorporated)

2.         STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

Class of relevant security	Product description e.g. call option	Written or purchased	Number of securities to which option or derivative relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date
USD 0.0001 common	CALL	WRITTEN	200,000	0.3967 USD	European	16/01/2026
USD 0.0001 common	CALL	PURCHASED	200,000	0.3967 USD	European	16/01/2026

3.         AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given so that the nature of the interest or position                                             can be fully understood:

NONE

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

The currency of all prices and other monetary amounts should be stated.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END