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

Morgan Stanley & Co. Int'l plc

25 March 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:	24 March 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	PURCHASES	802,293	3.5394 GBP	3.4701 GBP
25p ordinary	SALES	1,292,520	3.5430 GBP	3.4660 GBP
25p ordinary	PURCHASES	50	4.7044 USD	4.7044 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	1,574	3.4820 GBP
25p ordinary	CFD	increasing a long position	2,153	3.4820 GBP
25p ordinary	CFD	increasing a long position	400	3.4820 GBP
25p ordinary	CFD	increasing a long position	78,038	3.4878 GBP
25p ordinary	CFD	increasing a long position	61,911	3.4964 GBP
25p ordinary	CFD	increasing a long position	4,659	3.4964 GBP
25p ordinary	CFD	increasing a long position	15,200	3.4991 GBP
25p ordinary	CFD	increasing a long position	241	3.5013 GBP
25p ordinary	CFD	increasing a long position	826	3.5013 GBP
25p ordinary	CFD	increasing a long position	322	3.5013 GBP
25p ordinary	CFD	increasing a long position	646	3.5013 GBP
25p ordinary	CFD	increasing a long position	1,340	3.5014 GBP
25p ordinary	CFD	increasing a long position	325	3.5014 GBP
25p ordinary	CFD	increasing a long position	590	3.5014 GBP
25p ordinary	CFD	increasing a long position	1,014	3.5014 GBP
25p ordinary	CFD	increasing a long position	2,355	3.5014 GBP
25p ordinary	CFD	increasing a long position	349	3.5014 GBP
25p ordinary	CFD	increasing a long position	663	3.5014 GBP
25p ordinary	CFD	increasing a long position	429	3.5014 GBP
25p ordinary	CFD	increasing a long position	6,138	3.5024 GBP
25p ordinary	CFD	increasing a long position	24,123	3.5035 GBP
25p ordinary	CFD	increasing a long position	269	3.5063 GBP
25p ordinary	CFD	increasing a long position	248	3.5115 GBP
25p ordinary	CFD	increasing a long position	5,013	3.5144 GBP
25p ordinary	CFD	increasing a long position	2,955	3.5172 GBP
25p ordinary	CFD	increasing a long position	7,056	3.5178 GBP
25p ordinary	CFD	increasing a long position	188	3.5251 GBP
25p ordinary	CFD	increasing a long position	10,519	3.5305 GBP
25p ordinary	CFD	increasing a short position	74	3.4808 GBP
25p ordinary	CFD	increasing a short position	51	3.4820 GBP
25p ordinary	CFD	increasing a short position	10,198	3.4820 GBP
25p ordinary	CFD	increasing a short position	95,472	3.4820 GBP
25p ordinary	CFD	increasing a short position	15,479	3.4820 GBP
25p ordinary	CFD	increasing a short position	1,966	3.4820 GBP
25p ordinary	CFD	increasing a short position	34,455	3.4820 GBP
25p ordinary	CFD	increasing a short position	7,408	3.4951 GBP
25p ordinary	CFD	increasing a short position	38,283	3.4967 GBP
25p ordinary	CFD	increasing a short position	1,048	3.4968 GBP
25p ordinary	CFD	increasing a short position	56,844	3.4972 GBP
25p ordinary	CFD	increasing a short position	4,637	3.4973 GBP
25p ordinary	CFD	increasing a short position	43,335	3.4978 GBP
25p ordinary	CFD	increasing a short position	3,611	3.4979 GBP
25p ordinary	CFD	increasing a short position	23,073	3.4998 GBP
25p ordinary	CFD	increasing a short position	3,587	3.5044 GBP
25p ordinary	CFD	increasing a short position	1,105	3.5046 GBP
25p ordinary	CFD	increasing a short position	2,368	3.5079 GBP
25p ordinary	CFD	increasing a short position	253	3.5086 GBP
25p ordinary	CFD	increasing a short position	300	3.5102 GBP
25p ordinary	CFD	increasing a short position	700	3.5103 GBP
25p ordinary	CFD	increasing a short position	50	3.5133 GBP
25p ordinary	CFD	increasing a short position	50,031	3.5168 GBP
25p ordinary	CFD	increasing a short position	19,429	3.5192 GBP
25p ordinary	CFD	increasing a short position	25,122	3.5197 GBP
25p ordinary	CFD	increasing a short position	97	3.5200 GBP
25p ordinary	CFD	increasing a short position	146	3.5200 GBP
25p ordinary	CFD	reducing a long position	14,926	3.4820 GBP
25p ordinary	CFD	reducing a long position	249	3.4820 GBP
25p ordinary	CFD	reducing a long position	8,721	3.4821 GBP
25p ordinary	CFD	reducing a long position	104	3.4824 GBP
25p ordinary	CFD	reducing a long position	14,213	3.4834 GBP
25p ordinary	CFD	reducing a long position	2,350	3.4886 GBP
25p ordinary	CFD	reducing a long position	22,169	3.4931 GBP
25p ordinary	CFD	reducing a long position	62,400	3.4932 GBP
25p ordinary	CFD	reducing a long position	29,909	3.4936 GBP
25p ordinary	CFD	reducing a long position	23,690	3.4944 GBP
25p ordinary	CFD	reducing a long position	19,834	3.4998 GBP
25p ordinary	CFD	reducing a long position	31	3.5006 GBP
25p ordinary	CFD	reducing a long position	710	3.5020 GBP
25p ordinary	CFD	reducing a long position	10,817	3.5031 GBP
25p ordinary	CFD	reducing a short position	3,688	3.4820 GBP
25p ordinary	CFD	reducing a short position	6	3.4820 GBP
25p ordinary	CFD	reducing a short position	2,828	3.4853 GBP
25p ordinary	CFD	reducing a short position	6,717	3.4853 GBP
25p ordinary	CFD	reducing a short position	8,466	3.4853 GBP
25p ordinary	CFD	reducing a short position	15,872	3.4906 GBP
25p ordinary	CFD	reducing a short position	34,003	3.4931 GBP
25p ordinary	CFD	reducing a short position	15,088	3.4932 GBP
25p ordinary	CFD	reducing a short position	15,445	3.4958 GBP
25p ordinary	CFD	reducing a short position	23,073	3.5035 GBP
25p ordinary	CFD	reducing a short position	770	3.5040 GBP
25p ordinary	CFD	reducing a short position	593	3.5060 GBP
25p ordinary	CFD	reducing a short position	3,561	3.5087 GBP
25p ordinary	CFD	reducing a short position	20,327	3.5105 GBP
25p ordinary	CFD	reducing a short position	13,393	3.5105 GBP
25p ordinary	CFD	reducing a short position	1,356	3.5119 GBP
25p ordinary	CFD	reducing a short position	34,785	3.5154 GBP
25p ordinary	CFD	reducing a short position	1,283	3.5160 GBP
25p ordinary	CFD	reducing a short position	2,417	3.5207 GBP
25p ordinary	CFD	reducing a short position	8	3.5210 GBP
25p ordinary	CFD	reducing a short position	8	3.5215 GBP
25p ordinary	CFD	reducing a short position	15,671	3.5255 GBP
25p ordinary	CFD	reducing a short position	7,270	3.5382 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:	25 March 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