Form 8.5 (EPT/RI)-Beazley plc

JPMorgan Securities Plc

26 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:	23 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	2,025,299	11.5730 GBP	11.0822 GBP
	Sale	2,090,488	11.5678 GBP	11.0800 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	171	11.2005 GBP
			14,835	11.2323 GBP
			1,959	11.3634 GBP
			131	11.4114 GBP
			1	11.5205 GBP
		Decrease Short	2,982	11.1640 GBP
			7,800	11.1792 GBP
			163	11.1998 GBP
			11	11.2000 GBP
			17,150	11.2159 GBP
			24,272	11.2188 GBP
			389	11.2289 GBP
			894	11.2775 GBP
			10,227	11.2789 GBP
			1,187	11.2796 GBP
			5,627	11.2891 GBP
			19,800	11.2939 GBP
			91,892	11.3029 GBP
			36,135	11.3144 GBP
			31,800	11.3384 GBP
			59,187	11.3536 GBP
			32,000	11.3549 GBP
			17,777	11.3642 GBP
			89,720	11.3677 GBP
			10,600	11.3689 GBP
			18,000	11.3753 GBP
			2,923	11.3754 GBP
			104,700	11.3849 GBP
			1,142	11.3889 GBP
			52,761	11.3978 GBP
			25,000	11.3991 GBP
			21	11.3998 GBP
			1,070	11.4000 GBP
			25,000	11.4002 GBP
			10,171	11.4112 GBP
			65,680	11.4124 GBP
			15,081	11.4186 GBP
			6,187	11.4377 GBP
			905	11.4380 GBP
			48,426	11.4410 GBP
			19,383	11.4420 GBP
			27	11.4467 GBP
			2,908	11.4490 GBP
			23,553	11.4538 GBP
			31,529	11.4787 GBP
			25,000	11.4992 GBP
			5,139	11.4999 GBP
			21,344	11.5050 GBP
			32,751	11.5053 GBP
			7,658	11.5109 GBP
			25,956	11.5135 GBP
			2,324	11.5146 GBP
			20,009	11.5174 GBP
			11,321	11.5200 GBP
			3,063	11.5233 GBP
			6,935	11.5264 GBP
			5,463	11.5288 GBP
			1,117	11.5564 GBP
		Increase Long	17	11.2688 GBP
			129	11.3849 GBP
			14,986	11.3850 GBP
			2,700	11.4719 GBP
			647	11.5177 GBP
			78	11.5195 GBP
		1,179	11.5200 GBP
		39,186	11.5226 GBP
		444	11.5493 GBP
	Increase Short	10,000	11.0822 GBP
		617	11.1643 GBP
		10,600	11.1763 GBP
		50,000	11.2010 GBP
		532	11.2070 GBP
		23,755	11.2099 GBP
		71,765	11.2107 GBP
		25	11.2188 GBP
		1,581	11.2326 GBP
		19,758	11.2480 GBP
		6,406	11.2523 GBP
		29,465	11.2723 GBP
		17,292	11.2790 GBP
		2,862	11.2809 GBP
		130,390	11.2922 GBP
		3,371	11.3023 GBP
		2,070	11.3096 GBP
		14,533	11.3152 GBP
		6,175	11.3205 GBP
		352	11.3567 GBP
		320	11.3670 GBP
		62,096	11.3749 GBP
		300,000	11.3770 GBP
		21	11.4002 GBP
		32,318	11.4034 GBP
		5,866	11.4130 GBP
		133,530	11.4544 GBP
		3,428	11.4701 GBP
		14,501	11.5158 GBP
		30,903	11.5200 GBP
		2,817	11.5202 GBP
		4,318	11.5209 GBP
		889	11.5212 GBP
		19,602	11.5219 GBP
		10	11.5375 GBP
		796	11.5404 GBP
		30,079	11.5411 GBP
		511	11.5525 GBP
		796	11.5550 GBP
		413	11.5707 GBP
		4,358	11.5731 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:	26 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