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

Morgan Stanley & Co. Int'l plc

16 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:	15 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	SALES	2,849,420	3.9260 GBP	3.8800 GBP
25p ordinary	PURCHASES	1,701,886	3.9285 GBP	3.8780 GBP
25p ordinary	PURCHASES	1,161	5.2738 USD	5.2738 USD
25p ordinary	SALES	58	5.3094 USD	5.3094 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	2	3.8835 GBP
25p ordinary	CFD	increasing a long position	1,534,870	3.8900 GBP
25p ordinary	CFD	increasing a long position	13,128	3.8928 GBP
25p ordinary	CFD	increasing a long position	8	3.8938 GBP
25p ordinary	CFD	increasing a long position	63	3.8944 GBP
25p ordinary	CFD	increasing a long position	108	3.8945 GBP
25p ordinary	CFD	increasing a long position	26	3.8946 GBP
25p ordinary	CFD	increasing a long position	10	3.8950 GBP
25p ordinary	CFD	increasing a long position	8	3.8950 GBP
25p ordinary	CFD	increasing a long position	6,342	3.8985 GBP
25p ordinary	CFD	increasing a long position	4,332	3.9000 GBP
25p ordinary	CFD	increasing a long position	5,099	3.9010 GBP
25p ordinary	CFD	increasing a long position	2,287	3.9013 GBP
25p ordinary	CFD	increasing a long position	14,213	3.9115 GBP
25p ordinary	CFD	increasing a long position	9,577	3.9127 GBP
25p ordinary	CFD	increasing a long position	50,199	3.9139 GBP
25p ordinary	CFD	increasing a long position	3,784	3.9169 GBP
25p ordinary	CFD	increasing a long position	588	3.9170 GBP
25p ordinary	CFD	increasing a long position	1,889	3.9170 GBP
25p ordinary	CFD	increasing a long position	3,460	3.9170 GBP
25p ordinary	CFD	increasing a long position	11,739	3.9171 GBP
25p ordinary	CFD	increasing a long position	582	3.9189 GBP
25p ordinary	CFD	increasing a long position	318	3.9189 GBP
25p ordinary	CFD	increasing a long position	351	3.9247 GBP
25p ordinary	CFD	increasing a long position	190	3.9247 GBP
25p ordinary	CFD	increasing a short position	795	3.8800 GBP
25p ordinary	CFD	increasing a short position	600	3.8833 GBP
25p ordinary	CFD	increasing a short position	100	3.8852 GBP
25p ordinary	CFD	increasing a short position	38	3.8885 GBP
25p ordinary	CFD	increasing a short position	112	3.8885 GBP
25p ordinary	CFD	increasing a short position	1,011	3.8885 GBP
25p ordinary	CFD	increasing a short position	4,646	3.8892 GBP
25p ordinary	CFD	increasing a short position	99,528	3.8899 GBP
25p ordinary	CFD	increasing a short position	53,178	3.8957 GBP
25p ordinary	CFD	increasing a short position	7,509	3.8998 GBP
25p ordinary	CFD	increasing a short position	32,119	3.9094 GBP
25p ordinary	CFD	increasing a short position	37,208	3.9170 GBP
25p ordinary	CFD	increasing a short position	81	3.9170 GBP
25p ordinary	CFD	increasing a short position	7,337	3.9176 GBP
25p ordinary	CFD	reducing a long position	2,072	3.8841 GBP
25p ordinary	CFD	reducing a long position	2,442	3.8888 GBP
25p ordinary	CFD	reducing a long position	3,579	3.8891 GBP
25p ordinary	CFD	reducing a long position	429	3.8900 GBP
25p ordinary	CFD	reducing a long position	557	3.8900 GBP
25p ordinary	CFD	reducing a long position	149	3.8924 GBP
25p ordinary	CFD	reducing a long position	322	3.8925 GBP
25p ordinary	CFD	reducing a long position	591	3.8925 GBP
25p ordinary	CFD	reducing a long position	2,355	3.8926 GBP
25p ordinary	CFD	reducing a long position	34,349	3.8929 GBP
25p ordinary	CFD	reducing a long position	2,642	3.8932 GBP
25p ordinary	CFD	reducing a long position	17,378	3.8947 GBP
25p ordinary	CFD	reducing a long position	18,520	3.8950 GBP
25p ordinary	CFD	reducing a long position	1,465	3.8952 GBP
25p ordinary	CFD	reducing a long position	194	3.8986 GBP
25p ordinary	CFD	reducing a long position	10,393	3.8998 GBP
25p ordinary	CFD	reducing a long position	2,549	3.9023 GBP
25p ordinary	CFD	reducing a long position	53	3.9068 GBP
25p ordinary	CFD	reducing a long position	18,261	3.9100 GBP
25p ordinary	CFD	reducing a long position	285,352	3.9100 GBP
25p ordinary	CFD	reducing a long position	4,739	3.9102 GBP
25p ordinary	CFD	reducing a long position	18,474	3.9122 GBP
25p ordinary	CFD	reducing a long position	41,889	3.9126 GBP
25p ordinary	CFD	reducing a long position	22,813	3.9133 GBP
25p ordinary	CFD	reducing a long position	35,758	3.9159 GBP
25p ordinary	CFD	reducing a long position	5,913	3.9168 GBP
25p ordinary	CFD	reducing a long position	1,011	3.9170 GBP
25p ordinary	CFD	reducing a long position	7,286	3.9170 GBP
25p ordinary	CFD	reducing a long position	344	3.9170 GBP
25p ordinary	CFD	reducing a long position	10,350	3.9196 GBP
25p ordinary	CFD	reducing a long position	5,099	3.9206 GBP
25p ordinary	CFD	reducing a long position	17,831	3.9206 GBP
25p ordinary	CFD	reducing a long position	3,025	3.9218 GBP
25p ordinary	CFD	reducing a long position	1,317	3.9279 GBP
25p ordinary	CFD	reducing a short position	63	3.8900 GBP
25p ordinary	CFD	reducing a short position	586	3.8917 GBP
25p ordinary	CFD	reducing a short position	274	3.8920 GBP
25p ordinary	CFD	reducing a short position	860	3.8922 GBP
25p ordinary	CFD	reducing a short position	51,474	3.8996 GBP
25p ordinary	CFD	reducing a short position	69,099	3.9006 GBP
25p ordinary	CFD	reducing a short position	200,247	3.9006 GBP
25p ordinary	CFD	reducing a short position	39,287	3.9006 GBP
25p ordinary	CFD	reducing a short position	103,648	3.9006 GBP
25p ordinary	CFD	reducing a short position	26,192	3.9006 GBP
25p ordinary	CFD	reducing a short position	866	3.9047 GBP
25p ordinary	CFD	reducing a short position	35	3.9050 GBP
25p ordinary	CFD	reducing a short position	85	3.9050 GBP
25p ordinary	CFD	reducing a short position	64	3.9050 GBP
25p ordinary	CFD	reducing a short position	139	3.9070 GBP
25p ordinary	CFD	reducing a short position	42,399	3.9105 GBP
25p ordinary	CFD	reducing a short position	58	3.9115 GBP
25p ordinary	CFD	reducing a short position	3,499	3.9125 GBP
25p ordinary	CFD	reducing a short position	49,621	3.9141 GBP
25p ordinary	CFD	reducing a short position	12,629	3.9153 GBP
25p ordinary	CFD	reducing a short position	77,546	3.9156 GBP
25p ordinary	CFD	reducing a short position	20,324	3.9170 GBP
25p ordinary	CFD	reducing a short position	3	3.9170 GBP
25p ordinary	CFD	reducing a short position	43,800	3.9170 GBP
25p ordinary	CFD	reducing a short position	39,106	3.9170 GBP
25p ordinary	CFD	reducing a short position	6,082	3.9174 GBP
25p ordinary	CFD	reducing a short position	2,265	3.9174 GBP
25p ordinary	CFD	reducing a short position	4,972	3.9174 GBP
25p ordinary	CFD	reducing a short position	1,610	3.9233 GBP
25p ordinary	CFD	reducing a short position	3,347	3.9235 GBP
25p ordinary	CFD	reducing a short position	24	3.9247 GBP
25p ordinary	CFD	reducing a short position	43	3.9247 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:	16 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