Form 8.5 (EPT/RI) - Beazley plc

JPMorgan Securities Plc

23 January 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:	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	Beazley plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Corporate Broker and Financial Adviser to Beazley Plc
(d) Date dealing undertaken:	22 January 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"	N/A

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
5p ordinary	Purchase	6,711,616	11.4500 GBP	10.5400 GBP
	Sale	4,428,813	11.4650 GBP	10.6500 GBP

(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
5p ordinary	Equity Swap	Decrease Long	79	10.9976 GBP
			1,644	11.1236 GBP
			34,635	11.1421 GBP
			218	11.1605 GBP
			1,407	11.1611 GBP
			1,457	11.1653 GBP
			87	11.1708 GBP
			3,447	11.1816 GBP
			2,978	11.2223 GBP
			45	11.2315 GBP
			1,571	11.2319 GBP
			59	11.3042 GBP
		Decrease Short	553	10.6957 GBP
			41,807	10.7288 GBP
			553	10.7747 GBP
			11,364	10.7955 GBP
			19,887	10.8246 GBP
			10	10.8299 GBP
			63,003	10.8324 GBP
			19,887	10.8746 GBP
			553	10.9882 GBP
			553	10.9978 GBP
			3,000	11.0355 GBP
			165,804	11.0859 GBP
			1,666	11.1600 GBP
			22,925	11.1685 GBP
			27,283	11.1688 GBP
			10,849	11.1810 GBP
			71,122	11.1842 GBP
			27,924	11.1875 GBP
			98,520	11.1961 GBP
			11,907	11.1964 GBP
			26,119	11.2015 GBP
			8,006	11.2076 GBP
			1,589	11.2104 GBP
			18,666	11.2111 GBP
			6,584	11.2134 GBP
			1,942	11.2219 GBP
			8,300	11.2235 GBP
			36	11.2431 GBP
			67,726	11.2462 GBP
			33,068	11.2466 GBP
			7,255	11.2491 GBP
			604	11.2529 GBP
			22,738	11.2570 GBP
			42,523	11.2587 GBP
			15,344	11.2591 GBP
			7,965	11.2608 GBP
			8,554	11.2610 GBP
			75,000	11.2662 GBP
			44,667	11.2674 GBP
			25,333	11.2675 GBP
			412	11.2679 GBP
			2,176	11.2697 GBP
			153	11.2798 GBP
			334	11.2800 GBP
			89	11.2827 GBP
			9,410	11.2850 GBP
			25,877	11.2863 GBP
			553	11.2883 GBP
			31	11.2890 GBP
			17,700	11.2897 GBP
			180	11.2997 GBP
			16,808	11.3000 GBP
		2,652	11.3252 GBP
		499	11.3289 GBP
		394	11.3398 GBP
		553	11.4330 GBP
	Increase Long	8,224	11.1576 GBP
		14,609	11.1703 GBP
		400	11.2245 GBP
		30,159	11.2248 GBP
		2,220	11.2922 GBP
		1,000	11.3600 GBP
	Increase Short	25,000	10.6638 GBP
		25,000	10.6758 GBP
		25,000	10.6855 GBP
		168,300	10.7011 GBP
		11,001	10.8036 GBP
		205	10.8301 GBP
		34,580	10.8336 GBP
		34,390	10.8633 GBP
		2,640	10.8680 GBP
		34,360	10.8709 GBP
		5,000	10.8752 GBP
		76,749	10.8922 GBP
		62,600	10.9567 GBP
		27,298	10.9617 GBP
		2,990	10.9644 GBP
		345,285	10.9755 GBP
		69	10.9801 GBP
		8,169	11.0099 GBP
		34,030	11.0166 GBP
		4,912	11.0947 GBP
		25,417	11.1058 GBP
		67,610	11.1169 GBP
		874	11.1206 GBP
		459	11.1331 GBP
		79,547	11.1500 GBP
		162	11.1511 GBP
		42,313	11.1600 GBP
		10,585	11.1602 GBP
		27	11.1611 GBP
		47,271	11.1694 GBP
		983	11.1755 GBP
		187,300	11.1930 GBP
		7,726	11.2001 GBP
		50,000	11.2056 GBP
		118,356	11.2092 GBP
		584	11.2144 GBP
		10,484	11.2354 GBP
		212,301	11.2375 GBP
		66,232	11.2417 GBP
		16,114	11.2507 GBP
		15,519	11.2593 GBP
		23,110	11.2806 GBP
		105,985	11.2869 GBP
		4,225	11.2947 GBP
		3,523	11.3169 GBP
		10,398	11.3234 GBP
		77,363	11.3326 GBP
		1,855	11.3393 GBP
		32,906	11.3418 GBP
		364,561	11.3667 GBP
		65,229	11.3716 GBP
		420,907	11.3990 GBP
		32,942	11.4272 GBP
		22,865	11.4592 GBP
	Opening a short position	230	10.8311 GBP
		172	10.8411 GBP
		789	10.9418 GBP
		2,213	11.0013 GBP
		1,205	11.2389 GBP
		344	11.2596 GBP
		54,301	11.2708 GBP
		4,780	11.2711 GBP
		56,284	11.2714 GBP
		84,524	11.2825 GBP
		1,622	11.2858 GBP
		3,313	11.2860 GBP
		19,237	11.2891 GBP
		2,083	11.2911 GBP
		30,987	11.2966 GBP
		6,334	11.2978 GBP
		20,393	11.2991 GBP
		12,249	11.3038 GBP
		687	11.3042 GBP
		164	11.3111 GBP
		4,053	11.3151 GBP
		2,492	11.3237 GBP
		6,092	11.3259 GBP
		47,760	11.3315 GBP
		2,172	11.3493 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:	23 January 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 [phone].

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

 

END