Form 8.5 (EPT/RI)-Big Yellow Group plc

JPMorgan Securities Plc

02 December 2025

 

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	Big Yellow Group plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Corporate broker to Big Yellow Group plc
(d) Date dealing undertaken:	01 December 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
10p ordinary	Purchase	349,538	11.6400 GBP	10.5616 GBP
	Sale	467,435	11.6000 GBP	10.5800 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
10p ordinary	Equity Swap	Decrease Long	2,039	10.7631 GBP
			154	10.8089 GBP
			472	10.8098 GBP
			496	10.8173 GBP
			5,685	10.8393 GBP
			5,136	10.8605 GBP
			7,503	10.8611 GBP
			1,687	11.0778 GBP
		Decrease Short	20,000	10.6524 GBP
			20,000	10.8304 GBP
			30,632	10.8556 GBP
			5,000	10.9053 GBP
			566	10.9121 GBP
			4,053	11.1369 GBP
			8,400	11.1898 GBP
			4,032	11.4382 GBP
			2,393	11.4944 GBP
		Increase Long	2,361	10.6198 GBP
			9	10.8409 GBP
			10,223	10.8592 GBP
			823	10.8595 GBP
			2,045	10.8600 GBP
			918	10.9636 GBP
			2,990	11.2122 GBP
			15,766	11.2867 GBP
			6,771	11.3009 GBP
			339	11.5306 GBP
		Increase Short	3,453	10.5616 GBP
			26,970	10.8914 GBP
		Opening a long position	15,000	11.0291 GBP
			32,635	11.3766 GBP
			12,000	11.3981 GBP
			16,000	11.4271 GBP
		Opening a short position	15,000	10.5948 GBP
			12,000	10.7480 GBP
			48,635	10.7637 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:	02 December 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 [phone].

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

 

END