Form 8.5 (EPT/RI)-LondonMetric & Schroder REIT Ltd
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: |
21 August 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 |
2,131,858 |
1.9330 GBP |
1.9220 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 |
17,057 |
0.4420 GBP |
0.4389 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 |
703 |
1.9300 GBP |
|
|
|
44,311 |
1.9301 GBP |
|
|
|
|
5,139 |
1.9302 GBP |
|
|
|
|
385 |
1.9304 GBP |
|
|
|
|
145 |
1.9307 GBP |
|
|
|
|
97 |
1.9308 GBP |
|
|
|
|
819 |
1.9327 GBP |
|
|
|
|
1,185 |
1.9332 GBP |
|
|
|
|
|
||
|
|
|
1,776 |
1.9180 GBP |
|
|
|
|
761 |
1.9260 GBP |
|
|
|
|
69 |
1.9265 GBP |
|
|
|
|
26,155 |
1.9274 GBP |
|
|
|
|
34,299 |
1.9277 GBP |
|
|
|
|
94,933 |
1.9285 GBP |
|
|
|
|
781,148 |
1.9290 GBP |
|
|
|
|
20,282 |
1.9297 GBP |
|
|
|
|
45,567 |
1.9298 GBP |
|
|
|
|
12,814 |
1.9299 GBP |
|
|
|
|
308,893 |
1.9300 GBP |
|
|
|
|
1,573 |
1.9301 GBP |
|
|
|
|
24,819 |
1.9302 GBP |
|
|
|
|
281 |
1.9303 GBP |
|
|
|
|
17,430 |
1.9304 GBP |
|
|
|
|
633 |
1.9307 GBP |
|
|
|
|
32,945 |
1.9308 GBP |
|
|
|
|
9,245 |
1.9309 GBP |
|
|
|
|
1,859 |
1.9311 GBP |
|
|
|
|
|
||
|
|
|
2,800 |
1.9203 GBP |
|
|
|
|
70,300 |
1.9299 GBP |
|
|
|
|
1,180 |
1.9302 GBP |
|
|
|
|
|
||
|
|
|
30,891 |
1.9260 GBP |
|
|
|
|
69 |
1.9265 GBP |
|
|
|
|
95 |
1.9280 GBP |
|
|
|
|
11,745 |
1.9284 GBP |
|
|
|
|
18,515 |
1.9292 GBP |
|
|
|
|
128,831 |
1.9295 GBP |
|
|
|
|
28,601 |
1.9297 GBP |
|
|
|
|
4,480 |
1.9298 GBP |
|
|
|
|
75,843 |
1.9300 GBP |
|
|
|
|
21,670 |
1.9303 GBP |
|
|
|
|
82,509 |
1.9306 GBP |
|
|
|
|
21,058 |
1.9307 GBP |
|
|
|
|
3,276 |
1.9309 GBP |
|
|
|
|
1,392 |
1.9319 GBP |
|
|
|
|
6,535 |
1.9321 GBP |
|
|
|
|
|
||
|
|
|
5,292 |
1.9300 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 |
Decrease Short |
8,561 |
0.4405 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: |
24 August 2026 |
Contact name: |
Natasha Mondon |
Telephone number: |
01202 325175 |
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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