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: | 06 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" | 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 | 1,380,556 | 4.8095 GBP | 4.7040 GBP |
| 10p ordinary | SALES | 935,552 | 4.8113 GBP | 4.7156 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 |
| 10p ordinary | CFD | increasing a long position | 22 | 4.7215 GBP |
| 10p ordinary | CFD | increasing a long position | 353 | 4.7244 GBP |
| 10p ordinary | CFD | increasing a long position | 1,957 | 4.7250 GBP |
| 10p ordinary | CFD | increasing a long position | 457 | 4.7250 GBP |
| 10p ordinary | CFD | increasing a long position | 2,739 | 4.7265 GBP |
| 10p ordinary | CFD | increasing a long position | 464 | 4.7304 GBP |
| 10p ordinary | CFD | increasing a long position | 14,636 | 4.7363 GBP |
| 10p ordinary | CFD | increasing a long position | 12,732 | 4.7508 GBP |
| 10p ordinary | CFD | increasing a long position | 2,743 | 4.7593 GBP |
| 10p ordinary | CFD | increasing a long position | 1,293 | 4.7640 GBP |
| 10p ordinary | CFD | increasing a long position | 27,230 | 4.7773 GBP |
| 10p ordinary | CFD | increasing a long position | 10,955 | 4.7843 GBP |
| 10p ordinary | CFD | increasing a long position | 1,084 | 4.8055 GBP |
| 10p ordinary | CFD | increasing a short position | 443 | 4.7250 GBP |
| 10p ordinary | CFD | increasing a short position | 5,666 | 4.7254 GBP |
| 10p ordinary | CFD | increasing a short position | 16,785 | 4.7293 GBP |
| 10p ordinary | CFD | increasing a short position | 7,443 | 4.7298 GBP |
| 10p ordinary | CFD | increasing a short position | 47,179 | 4.7307 GBP |
| 10p ordinary | CFD | increasing a short position | 191 | 4.7331 GBP |
| 10p ordinary | CFD | increasing a short position | 1,664 | 4.7331 GBP |
| 10p ordinary | CFD | increasing a short position | 15,252 | 4.7355 GBP |
| 10p ordinary | CFD | increasing a short position | 123,314 | 4.7413 GBP |
| 10p ordinary | CFD | increasing a short position | 38 | 4.7418 GBP |
| 10p ordinary | CFD | increasing a short position | 61,700 | 4.7447 GBP |
| 10p ordinary | CFD | increasing a short position | 13,338 | 4.7447 GBP |
| 10p ordinary | CFD | increasing a short position | 16,341 | 4.7473 GBP |
| 10p ordinary | CFD | increasing a short position | 1,732 | 4.7479 GBP |
| 10p ordinary | CFD | increasing a short position | 22,298 | 4.7491 GBP |
| 10p ordinary | CFD | increasing a short position | 52,623 | 4.7519 GBP |
| 10p ordinary | CFD | increasing a short position | 1,897 | 4.7519 GBP |
| 10p ordinary | CFD | increasing a short position | 332 | 4.7524 GBP |
| 10p ordinary | CFD | increasing a short position | 2,552 | 4.7619 GBP |
| 10p ordinary | CFD | increasing a short position | 16 | 4.7713 GBP |
| 10p ordinary | CFD | increasing a short position | 2,500 | 4.8040 GBP |
| 10p ordinary | CFD | increasing a short position | 1,001 | 4.8080 GBP |
| 10p ordinary | CFD | reducing a long position | 28 | 4.7211 GBP |
| 10p ordinary | CFD | reducing a long position | 16,100 | 4.7235 GBP |
| 10p ordinary | CFD | reducing a long position | 24 | 4.7249 GBP |
| 10p ordinary | CFD | reducing a long position | 5,202 | 4.7250 GBP |
| 10p ordinary | CFD | reducing a long position | 4,657 | 4.7250 GBP |
| 10p ordinary | CFD | reducing a long position | 799 | 4.7251 GBP |
| 10p ordinary | CFD | reducing a long position | 16,285 | 4.7254 GBP |
| 10p ordinary | CFD | reducing a long position | 4 | 4.7285 GBP |
| 10p ordinary | CFD | reducing a long position | 6,206 | 4.7369 GBP |
| 10p ordinary | CFD | reducing a long position | 6,540 | 4.7428 GBP |
| 10p ordinary | CFD | reducing a long position | 52,623 | 4.7450 GBP |
| 10p ordinary | CFD | reducing a long position | 43 | 4.7479 GBP |
| 10p ordinary | CFD | reducing a long position | 89,629 | 4.7519 GBP |
| 10p ordinary | CFD | reducing a long position | 35,749 | 4.7570 GBP |
| 10p ordinary | CFD | reducing a long position | 1,481 | 4.7644 GBP |
| 10p ordinary | CFD | reducing a long position | 62,768 | 4.7656 GBP |
| 10p ordinary | CFD | reducing a long position | 21,414 | 4.7661 GBP |
| 10p ordinary | CFD | reducing a short position | 906 | 4.7210 GBP |
| 10p ordinary | CFD | reducing a short position | 9,044 | 4.7250 GBP |
| 10p ordinary | CFD | reducing a short position | 5,928 | 4.7250 GBP |
| 10p ordinary | CFD | reducing a short position | 3,761 | 4.7250 GBP |
| 10p ordinary | CFD | reducing a short position | 32,113 | 4.7250 GBP |
| 10p ordinary | CFD | reducing a short position | 1,240 | 4.7250 GBP |
| 10p ordinary | CFD | reducing a short position | 5,556 | 4.7265 GBP |
| 10p ordinary | CFD | reducing a short position | 16,820 | 4.7268 GBP |
| 10p ordinary | CFD | reducing a short position | 32,646 | 4.7347 GBP |
| 10p ordinary | CFD | reducing a short position | 1,732 | 4.7387 GBP |
| 10p ordinary | CFD | reducing a short position | 7 | 4.7400 GBP |
| 10p ordinary | CFD | reducing a short position | 66 | 4.7406 GBP |
| 10p ordinary | CFD | reducing a short position | 15,925 | 4.7410 GBP |
| 10p ordinary | CFD | reducing a short position | 7,021 | 4.7410 GBP |
| 10p ordinary | CFD | reducing a short position | 24,500 | 4.7447 GBP |
| 10p ordinary | CFD | reducing a short position | 5,666 | 4.7508 GBP |
| 10p ordinary | CFD | reducing a short position | 5,427 | 4.7534 GBP |
| 10p ordinary | CFD | reducing a short position | 2,552 | 4.7727 GBP |
| 10p ordinary | CFD | reducing a short position | 33,421 | 4.7736 GBP |
| 10p ordinary | CFD | reducing a short position | 6,804 | 4.7922 GBP |
| 10p ordinary | CFD | reducing a short position | 1,001 | 4.8020 GBP |
| 10p ordinary | CFD | reducing a short position | 2,500 | 4.8080 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: | 07 March 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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