Form 8.5 (EPT/RI) - British Land Company plc, The

Morgan Stanley & Co. Int'l plc

31 March 2026

 

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:	Morgan Stanley & Co. International plc
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	British Land Company plc, The
(c) Name of the party to the offer with which exempt principal trader is connected:	British Land Company plc, The
(d) Date dealing undertaken:	30 March 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"	YES - Life Science REIT plc

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
25p ordinary	PURCHASES	1,342,813	3.5661 GBP	3.4280 GBP
25p ordinary	SALES	4,447,460	3.5662 GBP	3.4280 GBP
25p ordinary	PURCHASES	82	4.6417 USD	4.6417 USD
25p ordinary	SALES	1	4.6539 USD	4.6539 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
25p ordinary	CFD	increasing a long position	24	3.4276 GBP
25p ordinary	CFD	increasing a long position	15	3.4280 GBP
25p ordinary	CFD	increasing a long position	1,083	3.4437 GBP
25p ordinary	CFD	increasing a long position	1,166	3.4460 GBP
25p ordinary	CFD	increasing a long position	1,202	3.4474 GBP
25p ordinary	CFD	increasing a long position	1,737	3.4474 GBP
25p ordinary	CFD	increasing a long position	2,941	3.4474 GBP
25p ordinary	CFD	increasing a long position	4,114	3.4474 GBP
25p ordinary	CFD	increasing a long position	5,054	3.4474 GBP
25p ordinary	CFD	increasing a long position	3,301	3.4474 GBP
25p ordinary	CFD	increasing a long position	11,728	3.4474 GBP
25p ordinary	CFD	increasing a long position	1,621	3.4474 GBP
25p ordinary	CFD	increasing a long position	6,678	3.4474 GBP
25p ordinary	CFD	increasing a long position	2,137	3.4474 GBP
25p ordinary	CFD	increasing a long position	1,603	3.4474 GBP
25p ordinary	CFD	increasing a long position	3,219	3.4474 GBP
25p ordinary	CFD	increasing a long position	15,814	3.4918 GBP
25p ordinary	CFD	increasing a long position	1,002	3.4940 GBP
25p ordinary	CFD	increasing a long position	1,159	3.5100 GBP
25p ordinary	CFD	increasing a long position	11,555	3.5111 GBP
25p ordinary	CFD	increasing a long position	4,188	3.5189 GBP
25p ordinary	CFD	increasing a long position	459	3.5305 GBP
25p ordinary	CFD	increasing a long position	10,317	3.5329 GBP
25p ordinary	CFD	increasing a long position	2,623	3.5382 GBP
25p ordinary	CFD	increasing a long position	1,728	3.5382 GBP
25p ordinary	CFD	increasing a long position	1,191	3.5399 GBP
25p ordinary	CFD	increasing a long position	23,310	3.5429 GBP
25p ordinary	CFD	increasing a long position	212	3.5446 GBP
25p ordinary	CFD	increasing a long position	400	3.5454 GBP
25p ordinary	CFD	increasing a long position	21,238	3.5506 GBP
25p ordinary	CFD	increasing a long position	4,317	3.5636 GBP
25p ordinary	CFD	increasing a long position	1,545	3.5660 GBP
25p ordinary	CFD	increasing a long position	1,129	3.5660 GBP
25p ordinary	CFD	increasing a long position	868	3.5660 GBP
25p ordinary	CFD	increasing a long position	186	3.5660 GBP
25p ordinary	CFD	increasing a short position	234	3.4280 GBP
25p ordinary	CFD	increasing a short position	135	3.4280 GBP
25p ordinary	CFD	increasing a short position	254	3.4540 GBP
25p ordinary	CFD	increasing a short position	6,300	3.4544 GBP
25p ordinary	CFD	increasing a short position	338	3.4590 GBP
25p ordinary	CFD	increasing a short position	77	3.4594 GBP
25p ordinary	CFD	increasing a short position	1,400	3.4609 GBP
25p ordinary	CFD	increasing a short position	724	3.4615 GBP
25p ordinary	CFD	increasing a short position	5,716	3.4644 GBP
25p ordinary	CFD	increasing a short position	2,180	3.4677 GBP
25p ordinary	CFD	increasing a short position	3,799	3.4857 GBP
25p ordinary	CFD	increasing a short position	26,372	3.4928 GBP
25p ordinary	CFD	increasing a short position	82	3.5187 GBP
25p ordinary	CFD	increasing a short position	261	3.5428 GBP
25p ordinary	CFD	increasing a short position	1	3.5442 GBP
25p ordinary	CFD	increasing a short position	5	3.5442 GBP
25p ordinary	CFD	increasing a short position	27	3.5446 GBP
25p ordinary	CFD	increasing a short position	368	3.5460 GBP
25p ordinary	CFD	increasing a short position	27,047	3.5462 GBP
25p ordinary	CFD	increasing a short position	26,855	3.5605 GBP
25p ordinary	CFD	increasing a short position	42	3.5658 GBP
25p ordinary	CFD	increasing a short position	61,852	3.5660 GBP
25p ordinary	CFD	increasing a short position	33	3.5660 GBP
25p ordinary	CFD	increasing a short position	906	3.5660 GBP
25p ordinary	CFD	reducing a long position	45	3.4596 GBP
25p ordinary	CFD	reducing a long position	248	3.4660 GBP
25p ordinary	CFD	reducing a long position	192	3.4660 GBP
25p ordinary	CFD	reducing a long position	6,347	3.4770 GBP
25p ordinary	CFD	reducing a long position	19,445	3.4776 GBP
25p ordinary	CFD	reducing a long position	38,701	3.4884 GBP
25p ordinary	CFD	reducing a long position	18,779	3.5064 GBP
25p ordinary	CFD	reducing a long position	1,633	3.5077 GBP
25p ordinary	CFD	reducing a long position	2,479	3.5077 GBP
25p ordinary	CFD	reducing a long position	11,554	3.5099 GBP
25p ordinary	CFD	reducing a long position	3,026	3.5099 GBP
25p ordinary	CFD	reducing a long position	10,203	3.5099 GBP
25p ordinary	CFD	reducing a long position	67,340	3.5099 GBP
25p ordinary	CFD	reducing a long position	16,115	3.5099 GBP
25p ordinary	CFD	reducing a long position	7,797	3.5129 GBP
25p ordinary	CFD	reducing a long position	15,444	3.5344 GBP
25p ordinary	CFD	reducing a long position	264,608	3.5443 GBP
25p ordinary	CFD	reducing a long position	6,378	3.5491 GBP
25p ordinary	CFD	reducing a long position	39,728	3.5590 GBP
25p ordinary	CFD	reducing a long position	7,564	3.5621 GBP
25p ordinary	CFD	reducing a long position	8,565	3.5621 GBP
25p ordinary	CFD	reducing a long position	2,244	3.5621 GBP
25p ordinary	CFD	reducing a long position	11,946	3.5621 GBP
25p ordinary	CFD	reducing a long position	49,922	3.5621 GBP
25p ordinary	CFD	reducing a long position	20,531	3.5661 GBP
25p ordinary	CFD	reducing a short position	2,227	3.4817 GBP
25p ordinary	CFD	reducing a short position	695	3.4920 GBP
25p ordinary	CFD	reducing a short position	40,371	3.5111 GBP
25p ordinary	CFD	reducing a short position	6,891	3.5191 GBP
25p ordinary	CFD	reducing a short position	13,556	3.5191 GBP
25p ordinary	CFD	reducing a short position	61,098	3.5222 GBP
25p ordinary	CFD	reducing a short position	1	3.5280 GBP
25p ordinary	CFD	reducing a short position	927	3.5280 GBP
25p ordinary	CFD	reducing a short position	493	3.5300 GBP
25p ordinary	CFD	reducing a short position	822	3.5310 GBP
25p ordinary	CFD	reducing a short position	755	3.5378 GBP
25p ordinary	CFD	reducing a short position	29,703	3.5404 GBP
25p ordinary	CFD	reducing a short position	10,062	3.5420 GBP
25p ordinary	CFD	reducing a short position	541	3.5511 GBP
25p ordinary	CFD	reducing a short position	152,148	3.5534 GBP
25p ordinary	CFD	reducing a short position	3,493	3.5640 GBP
25p ordinary	CFD	reducing a short position	4,402	3.5640 GBP
25p ordinary	CFD	reducing a short position	1,471	3.5640 GBP
25p ordinary	CFD	reducing a short position	271,299	3.5660 GBP
25p ordinary	CFD	reducing a short position	6,763	3.5660 GBP
25p ordinary	CFD	reducing a short position	234	3.5660 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
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

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:	31 March 2026
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 dealing disclosure requirements on [phone].

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

 

END