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 | Spectris plc |
| (c) Name of the party to the offer with which exempt principal trader is connected: | Financial Advisor to KKR & CO INV. |
| (d) Date dealing undertaken: | 04 September 2025 |
| (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 | 162,139 | 40.8200 GBP | 40.7200 GBP |
| | | | | |
| Sale | 105,798 | 40.8800 GBP | 40.7182 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 | 1,620 | 40.7210 GBP |
| 102 | 40.7749 GBP | |||
| | | | ||
| Decrease Short | 1,033 | 40.7194 GBP | ||
| 666 | 40.7515 GBP | |||
| 15 | 40.7560 GBP | |||
| 51 | 40.7567 GBP | |||
| 1,088 | 40.7688 GBP | |||
| 142 | 40.7748 GBP | |||
| 20 | 40.7749 GBP | |||
| 5 | 40.7759 GBP | |||
| 4,563 | 40.7792 GBP | |||
| 1,391 | 40.7820 GBP | |||
| 39 | 40.7916 GBP | |||
| 1,724 | 40.7917 GBP | |||
| 10 | 40.8364 GBP | |||
| 2,873 | 40.8769 GBP | |||
| | | | ||
| Increase Long | 16 | 40.7182 GBP | ||
| 2,100 | 40.7185 GBP | |||
| 18 | 40.7200 GBP | |||
| 2,425 | 40.7221 GBP | |||
| 889 | 40.7386 GBP | |||
| 3,608 | 40.7516 GBP | |||
| 900 | 40.7544 GBP | |||
| 400 | 40.7772 GBP | |||
| 23 | 40.8322 GBP | |||
| | | | ||
| Increase Short | 10,229 | 40.7200 GBP | ||
| 1,991 | 40.7206 GBP | |||
| 2,257 | 40.7241 GBP | |||
| 10,000 | 40.7441 GBP | |||
| 85 | 40.7641 GBP | |||
| 1,554 | 40.7643 GBP | |||
| 400 | 40.7650 GBP | |||
| 152 | 40.7652 GBP | |||
| 227 | 40.7719 GBP | |||
| 40 | 40.7723 GBP | |||
| 1,732 | 40.7802 GBP | |||
| 50,000 | 40.7804 GBP | |||
| 9 | 40.8017 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 |
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(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) |
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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: | 05 September 2025 |
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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