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 | Barratt Developments plc |
| (c) Name of the party to the offer with which exempt principal trader is connected: | Barratt Developments Plc |
| (d) Date dealing undertaken: | 15 April 2024 |
| (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- Redrow 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 |
| 10p ordinary | PURCHASES | 978,402 | 4.6530 GBP | 4.5800 GBP |
| 10p ordinary | SALES | 1,051,654 | 4.6570 GBP | 4.5800 GBP |
| 10p ordinary | SALES | 43,977 | 5.3715 EUR | 5.3715 EUR |
| 10p ordinary | PURCHASES | 1,325 | 5.7061 USD | 5.7061 USD |
| 10p ordinary | SALES | 1,325 | 5.7061 USD | 5.7061 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 |
| 10p ordinary | CFD | increasing a long position | 17,872 | 4.5830 GBP |
| 10p ordinary | CFD | increasing a long position | 21,600 | 4.5830 GBP |
| 10p ordinary | CFD | increasing a long position | 1,469 | 4.5830 GBP |
| 10p ordinary | CFD | increasing a long position | 42,005 | 4.5920 GBP |
| 10p ordinary | CFD | increasing a long position | 1,239 | 4.5971 GBP |
| 10p ordinary | CFD | increasing a long position | 6,773 | 4.5997 GBP |
| 10p ordinary | CFD | increasing a long position | 257,335 | 4.6034 GBP |
| 10p ordinary | CFD | increasing a long position | 13,591 | 4.6078 GBP |
| 10p ordinary | CFD | increasing a long position | 3,152 | 4.6093 GBP |
| 10p ordinary | CFD | increasing a long position | 180 | 4.6097 GBP |
| 10p ordinary | CFD | increasing a long position | 453 | 4.6190 GBP |
| 10p ordinary | CFD | increasing a long position | 9,423 | 4.6208 GBP |
| 10p ordinary | CFD | increasing a long position | 2,196 | 4.6428 GBP |
| 10p ordinary | CFD | increasing a short position | 169 | 4.5814 GBP |
| 10p ordinary | CFD | increasing a short position | 74 | 4.5814 GBP |
| 10p ordinary | CFD | increasing a short position | 852 | 4.5830 GBP |
| 10p ordinary | CFD | increasing a short position | 499 | 4.5830 GBP |
| 10p ordinary | CFD | increasing a short position | 265 | 4.5830 GBP |
| 10p ordinary | CFD | increasing a short position | 369 | 4.5831 GBP |
| 10p ordinary | CFD | increasing a short position | 2,272 | 4.5834 GBP |
| 10p ordinary | CFD | increasing a short position | 135 | 4.5852 GBP |
| 10p ordinary | CFD | increasing a short position | 187 | 4.5852 GBP |
| 10p ordinary | CFD | increasing a short position | 818 | 4.5880 GBP |
| 10p ordinary | CFD | increasing a short position | 104 | 4.5921 GBP |
| 10p ordinary | CFD | increasing a short position | 3,762 | 4.5956 GBP |
| 10p ordinary | CFD | increasing a short position | 61,007 | 4.5960 GBP |
| 10p ordinary | CFD | increasing a short position | 63 | 4.6000 GBP |
| 10p ordinary | CFD | increasing a short position | 18,655 | 4.6037 GBP |
| 10p ordinary | CFD | increasing a short position | 5,900 | 4.6050 GBP |
| 10p ordinary | CFD | increasing a short position | 16,219 | 4.6050 GBP |
| 10p ordinary | CFD | increasing a short position | 27,881 | 4.6050 GBP |
| 10p ordinary | CFD | increasing a short position | 8,946 | 4.6076 GBP |
| 10p ordinary | CFD | increasing a short position | 44,800 | 4.6076 GBP |
| 10p ordinary | CFD | increasing a short position | 67,578 | 4.6085 GBP |
| 10p ordinary | CFD | increasing a short position | 38,921 | 4.6098 GBP |
| 10p ordinary | CFD | increasing a short position | 7,509 | 4.6098 GBP |
| 10p ordinary | CFD | increasing a short position | 102,143 | 4.6191 GBP |
| 10p ordinary | CFD | increasing a short position | 3,744 | 4.6204 GBP |
| 10p ordinary | CFD | increasing a short position | 1,754 | 4.6240 GBP |
| 10p ordinary | CFD | increasing a short position | 20,835 | 4.6245 GBP |
| 10p ordinary | CFD | increasing a short position | 1,645 | 4.6258 GBP |
| 10p ordinary | CFD | increasing a short position | 92,647 | 4.6295 GBP |
| 10p ordinary | CFD | reducing a long position | 45,337 | 4.5830 GBP |
| 10p ordinary | CFD | reducing a long position | 81 | 4.5830 GBP |
| 10p ordinary | CFD | reducing a long position | 1,200 | 4.5830 GBP |
| 10p ordinary | CFD | reducing a long position | 1,716 | 4.5899 GBP |
| 10p ordinary | CFD | reducing a long position | 37,169 | 4.5907 GBP |
| 10p ordinary | CFD | reducing a long position | 3,052 | 4.5983 GBP |
| 10p ordinary | CFD | reducing a long position | 453 | 4.6032 GBP |
| 10p ordinary | CFD | reducing a long position | 1 | 4.6100 GBP |
| 10p ordinary | CFD | reducing a long position | 100 | 4.6110 GBP |
| 10p ordinary | CFD | reducing a long position | 9,423 | 4.6143 GBP |
| 10p ordinary | CFD | reducing a long position | 8,382 | 4.6191 GBP |
| 10p ordinary | CFD | reducing a short position | 49,550 | 4.5830 GBP |
| 10p ordinary | CFD | reducing a short position | 43,977 | 4.5869 GBP |
| 10p ordinary | CFD | reducing a short position | 2,993 | 4.5880 GBP |
| 10p ordinary | CFD | reducing a short position | 78,693 | 4.5976 GBP |
| 10p ordinary | CFD | reducing a short position | 15,739 | 4.6006 GBP |
| 10p ordinary | CFD | reducing a short position | 6,183 | 4.6006 GBP |
| 10p ordinary | CFD | reducing a short position | 44,000 | 4.6006 GBP |
| 10p ordinary | CFD | reducing a short position | 104 | 4.6018 GBP |
| 10p ordinary | CFD | reducing a short position | 567 | 4.6031 GBP |
| 10p ordinary | CFD | reducing a short position | 22,625 | 4.6061 GBP |
| 10p ordinary | CFD | reducing a short position | 2,080 | 4.6088 GBP |
| 10p ordinary | CFD | reducing a short position | 12 | 4.6181 GBP |
| 10p ordinary | CFD | reducing a short position | 86,424 | 4.6234 GBP |
| 10p ordinary | CFD | reducing a short position | 1,754 | 4.6253 GBP |
| 10p ordinary | CFD | reducing a short position | 3,654 | 4.6267 GBP |
| 10p ordinary | CFD | reducing a short position | 2,215 | 4.6341 GBP |
| 10p ordinary | CFD | reducing a short position | 4,929 | 4.6345 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: | 16 April 2024 |
Contact name: | Craig Horsley |
Telephone number: | +44 141 245-7736 |
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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