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24 April 2026 10:59:27
- Source: Sharecast
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
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(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: |
23 April 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 |
1,344,845 |
1.9390 GBP |
1.9187 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 |
2,425 |
0.4975 GBP |
0.4975 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 |
5,401 |
1.9242 GBP |
|
|
|
70,730 |
1.9251 GBP |
|
|
|
|
6,200 |
1.9255 GBP |
|
|
|
|
35,351 |
1.9276 GBP |
|
|
|
|
22,506 |
1.9301 GBP |
|
|
|
|
500 |
1.9369 GBP |
|
|
|
|
33,577 |
1.9381 GBP |
|
|
|
|
19,051 |
1.9382 GBP |
|
|
|
|
|
||
|
|
|
385,931 |
1.9204 GBP |
|
|
|
|
14,192 |
1.9227 GBP |
|
|
|
|
24,788 |
1.9266 GBP |
|
|
|
|
10,565 |
1.9274 GBP |
|
|
|
|
103 |
1.9283 GBP |
|
|
|
|
3,447 |
1.9299 GBP |
|
|
|
|
4,205 |
1.9306 GBP |
|
|
|
|
9,218 |
1.9348 GBP |
|
|
|
|
121,952 |
1.9371 GBP |
|
|
|
|
19,393 |
1.9377 GBP |
|
|
|
|
1,337,482 |
1.9380 GBP |
|
|
|
|
|
||
|
|
|
558 |
1.9319 GBP |
|
|
|
|
200 |
1.9320 GBP |
|
|
|
|
122,687 |
1.9379 GBP |
|
|
|
|
|
||
|
|
|
7,711 |
1.9261 GBP |
|
|
|
|
10,098 |
1.9281 GBP |
|
|
|
|
90,930 |
1.9283 GBP |
|
|
|
|
71,213 |
1.9293 GBP |
|
|
|
|
9,549 |
1.9297 GBP |
|
|
|
|
16,528 |
1.9330 GBP |
|
|
|
|
2,429 |
1.9346 GBP |
|
|
|
|
99,674 |
1.9353 GBP |
|
|
|
|
68,129 |
1.9376 GBP |
|
|
|
|
24,763 |
1.9380 GBP |
|
|
|
|
|
||
|
|
|
28,284 |
1.9343 GBP |
|
|
|
|
41,647 |
1.9380 GBP |
|
|
|
|
|
||
|
|
|
22,587 |
1.9223 GBP |
|
|
|
|
158 |
1.9320 GBP |
|
|
|
|
12,976 |
1.9380 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 |
N/A |
0 |
0.00 |
(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
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Date of disclosure: |
24 April 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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