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

Morgan Stanley & Co. Int'l plc

15 April 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:	14 April 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	1,286,919	3.8791 GBP	3.8070 GBP
25p ordinary	SALES	407,512	3.8793 GBP	3.8068 GBP
25p ordinary	PURCHASES	2,135	5.2346 USD	5.2346 USD
25p ordinary	SALES	83	5.2365 USD	5.2365 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	80	3.8068 GBP
25p ordinary	CFD	increasing a long position	9,722	3.8250 GBP
25p ordinary	CFD	increasing a long position	6,043	3.8260 GBP
25p ordinary	CFD	increasing a long position	18,580	3.8290 GBP
25p ordinary	CFD	increasing a long position	233	3.8400 GBP
25p ordinary	CFD	increasing a long position	2,534	3.8446 GBP
25p ordinary	CFD	increasing a long position	3,824	3.8446 GBP
25p ordinary	CFD	increasing a long position	1,475	3.8452 GBP
25p ordinary	CFD	increasing a long position	16,709	3.8452 GBP
25p ordinary	CFD	increasing a long position	9,773	3.8452 GBP
25p ordinary	CFD	increasing a long position	1,369	3.8452 GBP
25p ordinary	CFD	increasing a long position	3,988	3.8452 GBP
25p ordinary	CFD	increasing a long position	41,338	3.8619 GBP
25p ordinary	CFD	increasing a long position	33,355	3.8731 GBP
25p ordinary	CFD	increasing a long position	16,060	3.8757 GBP
25p ordinary	CFD	increasing a long position	2,706	3.8790 GBP
25p ordinary	CFD	increasing a long position	7,376	3.8790 GBP
25p ordinary	CFD	increasing a long position	34,752	3.8790 GBP
25p ordinary	CFD	increasing a long position	1,791	3.8790 GBP
25p ordinary	CFD	increasing a short position	346	3.8093 GBP
25p ordinary	CFD	increasing a short position	200	3.8133 GBP
25p ordinary	CFD	increasing a short position	838	3.8184 GBP
25p ordinary	CFD	increasing a short position	568	3.8187 GBP
25p ordinary	CFD	increasing a short position	200	3.8187 GBP
25p ordinary	CFD	increasing a short position	506	3.8187 GBP
25p ordinary	CFD	increasing a short position	400	3.8203 GBP
25p ordinary	CFD	increasing a short position	2,063	3.8233 GBP
25p ordinary	CFD	increasing a short position	5,415	3.8250 GBP
25p ordinary	CFD	increasing a short position	4,307	3.8250 GBP
25p ordinary	CFD	increasing a short position	3,365	3.8260 GBP
25p ordinary	CFD	increasing a short position	2,678	3.8260 GBP
25p ordinary	CFD	increasing a short position	17,560	3.8276 GBP
25p ordinary	CFD	increasing a short position	10,347	3.8290 GBP
25p ordinary	CFD	increasing a short position	8,233	3.8290 GBP
25p ordinary	CFD	increasing a short position	92	3.8314 GBP
25p ordinary	CFD	increasing a short position	1,491	3.8314 GBP
25p ordinary	CFD	increasing a short position	264	3.8314 GBP
25p ordinary	CFD	increasing a short position	378	3.8314 GBP
25p ordinary	CFD	increasing a short position	21,763	3.8320 GBP
25p ordinary	CFD	increasing a short position	61,443	3.8320 GBP
25p ordinary	CFD	increasing a short position	54,861	3.8320 GBP
25p ordinary	CFD	increasing a short position	13	3.8430 GBP
25p ordinary	CFD	increasing a short position	243	3.8530 GBP
25p ordinary	CFD	increasing a short position	123,418	3.8550 GBP
25p ordinary	CFD	increasing a short position	69	3.8570 GBP
25p ordinary	CFD	increasing a short position	1,859	3.8570 GBP
25p ordinary	CFD	increasing a short position	207	3.8570 GBP
25p ordinary	CFD	increasing a short position	2,258	3.8580 GBP
25p ordinary	CFD	increasing a short position	11,788	3.8590 GBP
25p ordinary	CFD	increasing a short position	36,424	3.8692 GBP
25p ordinary	CFD	increasing a short position	9,525	3.8735 GBP
25p ordinary	CFD	increasing a short position	4,916	3.8766 GBP
25p ordinary	CFD	increasing a short position	84	3.8791 GBP
25p ordinary	CFD	reducing a long position	2,281	3.8265 GBP
25p ordinary	CFD	reducing a long position	200	3.8314 GBP
25p ordinary	CFD	reducing a long position	818	3.8314 GBP
25p ordinary	CFD	reducing a long position	572	3.8314 GBP
25p ordinary	CFD	reducing a long position	5,063	3.8314 GBP
25p ordinary	CFD	reducing a long position	6,799	3.8378 GBP
25p ordinary	CFD	reducing a long position	74	3.8381 GBP
25p ordinary	CFD	reducing a long position	608	3.8399 GBP
25p ordinary	CFD	reducing a long position	791	3.8399 GBP
25p ordinary	CFD	reducing a long position	4,401	3.8460 GBP
25p ordinary	CFD	reducing a long position	13,040	3.8476 GBP
25p ordinary	CFD	reducing a long position	7,564	3.8486 GBP
25p ordinary	CFD	reducing a long position	20,292	3.8502 GBP
25p ordinary	CFD	reducing a long position	1,397	3.8522 GBP
25p ordinary	CFD	reducing a long position	592	3.8572 GBP
25p ordinary	CFD	reducing a long position	10,276	3.8607 GBP
25p ordinary	CFD	reducing a long position	12,729	3.8652 GBP
25p ordinary	CFD	reducing a long position	19,941	3.8659 GBP
25p ordinary	CFD	reducing a long position	192,787	3.8672 GBP
25p ordinary	CFD	reducing a long position	45,006	3.8679 GBP
25p ordinary	CFD	reducing a long position	20,776	3.8685 GBP
25p ordinary	CFD	reducing a long position	4,368	3.8715 GBP
25p ordinary	CFD	reducing a long position	68,240	3.8715 GBP
25p ordinary	CFD	reducing a long position	2,717	3.8752 GBP
25p ordinary	CFD	reducing a long position	581	3.8790 GBP
25p ordinary	CFD	reducing a long position	402	3.8790 GBP
25p ordinary	CFD	reducing a long position	80	3.8790 GBP
25p ordinary	CFD	reducing a short position	232	3.8220 GBP
25p ordinary	CFD	reducing a short position	108	3.8225 GBP
25p ordinary	CFD	reducing a short position	25	3.8229 GBP
25p ordinary	CFD	reducing a short position	1,532	3.8307 GBP
25p ordinary	CFD	reducing a short position	1,562	3.8346 GBP
25p ordinary	CFD	reducing a short position	651	3.8420 GBP
25p ordinary	CFD	reducing a short position	24	3.8420 GBP
25p ordinary	CFD	reducing a short position	21,738	3.8460 GBP
25p ordinary	CFD	reducing a short position	12,624	3.8518 GBP
25p ordinary	CFD	reducing a short position	24,450	3.8550 GBP
25p ordinary	CFD	reducing a short position	83	3.8602 GBP
25p ordinary	CFD	reducing a short position	481	3.8605 GBP
25p ordinary	CFD	reducing a short position	634	3.8768 GBP
25p ordinary	CFD	reducing a short position	1,392	3.8768 GBP
25p ordinary	CFD	reducing a short position	1,702	3.8768 GBP
25p ordinary	CFD	reducing a short position	1,663	3.8790 GBP
25p ordinary	CFD	reducing a short position	31,513	3.8790 GBP
25p ordinary	CFD	reducing a short position	7,722	3.8790 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:	15 April 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