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: | UBS Investment Bank, London |
| (b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Spirent Communications plc |
| (c) Name of the party to the offer with which exempt principal trader is connected: | Spirent Communications plc |
| (d) Date dealing undertaken: | 05 March 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" | NO
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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 |
| 3 1/3p ordinary | Buy
| 16314808 | 1.77000 GBP | 1.70900 GBP |
| 3 1/3p ordinary | Sell
| 11261828 | 1.77000 GBP | 1.71599 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 |
| 3 1/3p ordinary | CFD
| Long | 213314 | 1.742 GBP |
| 3 1/3p ordinary | CFD
| Long | 23981 | 1.76780605479338 GBP |
| 3 1/3p ordinary | CFD
| Long | 6 | 1.7525 GBP |
| 3 1/3p ordinary | CFD
| Long | 164 | 1.769939 GBP |
| 3 1/3p ordinary | CFD
| Long | 17492 | 1.753306 GBP |
| 3 1/3p ordinary | CFD
| Long | 5523 | 1.76394391 GBP |
| 3 1/3p ordinary | CFD
| Long | 1898 | 1.75697576 GBP |
| 3 1/3p ordinary | CFD
| Long | 11454 | 1.76173 GBP |
| 3 1/3p ordinary | CFD
| Long | 22662 | 1.751074 GBP |
| 3 1/3p ordinary | CFD
| Long | 29564 | 1.73538799 GBP |
| 3 1/3p ordinary | CFD
| Long | 54387 | 1.76780613014139 GBP |
| 3 1/3p ordinary | CFD
| Long | 609 | 1.77 GBP |
| 3 1/3p ordinary | CFD
| Long | 196 | 1.76831633 GBP |
| 3 1/3p ordinary | CFD
| Long | 5307 | 1.75259845487093 GBP |
| 3 1/3p ordinary | CFD
| Long | 10325 | 1.75065956416465 GBP |
| 3 1/3p ordinary | CFD
| Long | 18022 | 1.72888422 GBP |
| 3 1/3p ordinary | CFD
| Long | 11407 | 1.74031628 GBP |
| 3 1/3p ordinary | CFD
| Long | 8155 | 1.7574757 GBP |
| 3 1/3p ordinary | CFD
| Long | 2191 | 1.74073465 GBP |
| 3 1/3p ordinary | CFD
| Long | 12765 | 1.733178 GBP |
| 3 1/3p ordinary | CFD
| Long | 6212 | 1.7135 GBP |
| 3 1/3p ordinary | CFD
| Long | 2000 | 1.713335 GBP |
| 3 1/3p ordinary | CFD
| Long | 5904 | 1.709 GBP |
| 3 1/3p ordinary | CFD
| Long | 25344 | 1.71 GBP |
| 3 1/3p ordinary | CFD
| Long | 7997 | 1.7105 GBP |
| 3 1/3p ordinary | CFD
| Long | 3816 | 1.714 GBP |
| 3 1/3p ordinary | CFD
| Long | 10339 | 1.713 GBP |
| 3 1/3p ordinary | CFD
| Long | 6089 | 1.717 GBP |
| 3 1/3p ordinary | CFD
| Long | 1067 | 1.7185 GBP |
| 3 1/3p ordinary | CFD
| Long | 83093 | 1.725585 GBP |
| 3 1/3p ordinary | CFD
| Long | 6482 | 1.76999998 GBP |
| 3 1/3p ordinary | CFD
| Long | 12999 | 1.727 GBP |
| 3 1/3p ordinary | CFD
| Long | 1500 | 1.726 GBP |
| 3 1/3p ordinary | CFD
| Long | 3856 | 1.722 GBP |
| 3 1/3p ordinary | CFD
| Long | 5678 | 1.7265 GBP |
| 3 1/3p ordinary | CFD
| Long | 9182 | 1.7275 GBP |
| 3 1/3p ordinary | CFD
| Long | 15271 | 1.728 GBP |
| 3 1/3p ordinary | CFD
| Long | 4000 | 1.735 GBP |
| 3 1/3p ordinary | CFD
| Long | 5068 | 1.7225 GBP |
| 3 1/3p ordinary | CFD
| Long | 7251 | 1.734 GBP |
| 3 1/3p ordinary | CFD
| Long | 1000 | 1.723 GBP |
| 3 1/3p ordinary | CFD
| Long | 3332 | 1.731 GBP |
| 3 1/3p ordinary | CFD
| Long | 1021 | 1.730438 GBP |
| 3 1/3p ordinary | CFD
| Long | 3446 | 1.729 GBP |
| 3 1/3p ordinary | CFD
| Long | 3401 | 1.7295 GBP |
| 3 1/3p ordinary | CFD
| Long | 687 | 1.73 GBP |
| 3 1/3p ordinary | CFD
| Long | 1496 | 1.718 GBP |
| 3 1/3p ordinary | CFD
| Long | 9344 | 1.758 GBP |
| 3 1/3p ordinary | CFD
| Long | 1072 | 1.7575 GBP |
| 3 1/3p ordinary | CFD
| Long | 1000 | 1.721 GBP |
| 3 1/3p ordinary | CFD
| Long | 3888 | 1.72 GBP |
| 3 1/3p ordinary | CFD
| Long | 3728 | 1.719 GBP |
| 3 1/3p ordinary | CFD
| Long | 1275 | 1.742097 GBP |
| 3 1/3p ordinary | CFD
| Long | 4219 | 1.715 GBP |
| 3 1/3p ordinary | CFD
| Long | 4017 | 1.713946 GBP |
| 3 1/3p ordinary | CFD
| Short | 5150 | 1.74536116504854 GBP |
| 3 1/3p ordinary | CFD
| Short | 9297 | 1.76188114 GBP |
| 3 1/3p ordinary | CFD
| Short | 2873 | 1.724276 GBP |
| 3 1/3p ordinary | CFD
| Short | 30694 | 1.7549 GBP |
| 3 1/3p ordinary | CFD
| Short | 52064 | 1.72055628 GBP |
| 3 1/3p ordinary | CFD
| Short | 4384 | 1.76163093065693 GBP |
| 3 1/3p ordinary | CFD
| Short | 31093 | 1.77 GBP |
| 3 1/3p ordinary | CFD
| Short | 397395 | 1.72336126 GBP |
| 3 1/3p ordinary | CFD
| Short | 250000 | 1.7609 GBP |
| 3 1/3p ordinary | CFD
| Short | 1500000 | 1.751313 GBP |
| 3 1/3p ordinary | CFD
| Short | 1400000 | 1.74988243 GBP |
| 3 1/3p ordinary | CFD
| Short | 1200000 | 1.7513125 GBP |
| 3 1/3p ordinary | CFD
| Short | 354294 | 1.7176 GBP |
| 3 1/3p ordinary | CFD
| Short | 295240 | 1.7598 GBP |
| 3 1/3p ordinary | CFD
| Short | 118100 | 1.721579 GBP |
| 3 1/3p ordinary | CFD
| Short | 118096 | 1.76063701 GBP |
| 3 1/3p ordinary | CFD
| Short | 41 | 1.75245122 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 " |
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None
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(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" |
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None |
Date of disclosure: | 06 March 2024 |
Contact name: | Richard Howard |
Telephone number: | +44 (0)207 568 9128 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk
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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