Form 8.5 (EPT/RI)-LondonMetric & Schroder REIT Lt
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 |
A consortium comprising LondonMetric Property plc and Schroder Real Estate Investment Trust Limited |
|
(c) Name of the party to the offer with which exempt principal trader is connected: |
Financial advisor to a consortium comprising LondonMetric Property plc and Schroder Real Estate Investment Trust Limited |
|
(d) Date dealing undertaken: |
07 July 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, Picton Property Income Limited |
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 |
|
LondonMetric 10p ordinary |
Purchase |
1,099,579 |
1.9025 GBP |
1.8700 GBP |
Sale |
|
|
|
|
Class of relevant security |
Purchases/ sales
|
Total number of securities |
Highest price per unit paid/received |
Lowest price per unit paid/received |
|
Schroder REIT ordinary NPV |
Purchase |
11,533 |
0.4625 GBP |
0.4588 GBP |
Sale |
|
|
|
(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 |
|
LondonMetric 10p ordinary |
Equity Swap |
Decrease Long |
14,695 |
1.8804 GBP |
|
|
|
28,121 |
1.8894 GBP |
|
|
|
|
4,056 |
1.8902 GBP |
|
|
|
|
120,280 |
1.8910 GBP |
|
|
|
|
21,100 |
1.8934 GBP |
|
|
|
|
3,797 |
1.8940 GBP |
|
|
|
|
|
||
|
|
|
152 |
1.8860 GBP |
|
|
|
|
18,777 |
1.8894 GBP |
|
|
|
|
13,576 |
1.8897 GBP |
|
|
|
|
3,656 |
1.8898 GBP |
|
|
|
|
22,370 |
1.8899 GBP |
|
|
|
|
122,565 |
1.8900 GBP |
|
|
|
|
8,895 |
1.8913 GBP |
|
|
|
|
2,650 |
1.8915 GBP |
|
|
|
|
1,272 |
1.8916 GBP |
|
|
|
|
254 |
1.8921 GBP |
|
|
|
|
8,578 |
1.8924 GBP |
|
|
|
|
19,540 |
1.8930 GBP |
|
|
|
|
7,103 |
1.8931 GBP |
|
|
|
|
8,086 |
1.8935 GBP |
|
|
|
|
2,824 |
1.8943 GBP |
|
|
|
|
25,635 |
1.8948 GBP |
|
|
|
|
3,636 |
1.8951 GBP |
|
|
|
|
864 |
1.8958 GBP |
|
|
|
|
4,941 |
1.8971 GBP |
|
|
|
|
|
||
|
|
|
1,117 |
1.8923 GBP |
|
|
|
|
27,980 |
1.8944 GBP |
|
|
|
|
|
||
|
|
|
3,271 |
1.8863 GBP |
|
|
|
|
4,880 |
1.8876 GBP |
|
|
|
|
10,398 |
1.8900 GBP |
|
|
|
|
72,946 |
1.8901 GBP |
|
|
|
|
45,899 |
1.8908 GBP |
|
|
|
|
8,426 |
1.8918 GBP |
|
|
|
|
25,701 |
1.8922 GBP |
|
|
|
|
45,217 |
1.8940 GBP |
|
|
|
|
|
||
|
|
|
22,799 |
1.8931 GBP |
|
|
|
|
12,810 |
1.8939 GBP |
|
|
|
|
|
|
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 |
|
Schroder REIT ordinary NPV |
Equity Swap |
Increase Short |
2,819 |
0.4589 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: |
08 July 2026 |
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 +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
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