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: | 07 May 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 | SALES | 1,181,671 | 4.9282 GBP | 4.8390 GBP |
| 10p ordinary | PURCHASES | 1,663,589 | 4.9290 GBP | 4.8300 GBP |
| 10p ordinary | SALES | 23,792 | 5.7305 EUR | 5.7305 EUR |
(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 | 2,180 | 4.8489 GBP |
| 10p ordinary | CFD | increasing a long position | 5,382 | 4.8497 GBP |
| 10p ordinary | CFD | increasing a long position | 293 | 4.8499 GBP |
| 10p ordinary | CFD | increasing a long position | 3,923 | 4.8570 GBP |
| 10p ordinary | CFD | increasing a long position | 3,735 | 4.8735 GBP |
| 10p ordinary | CFD | increasing a long position | 5,271 | 4.9052 GBP |
| 10p ordinary | CFD | increasing a long position | 5,032 | 4.9115 GBP |
| 10p ordinary | CFD | increasing a long position | 2,208 | 4.9235 GBP |
| 10p ordinary | CFD | increasing a long position | 23,792 | 4.9241 GBP |
| 10p ordinary | CFD | increasing a long position | 94 | 4.9276 GBP |
| 10p ordinary | CFD | increasing a long position | 109 | 4.9279 GBP |
| 10p ordinary | CFD | increasing a long position | 104 | 4.9279 GBP |
| 10p ordinary | CFD | increasing a long position | 2,590 | 4.9280 GBP |
| 10p ordinary | CFD | increasing a short position | 895 | 4.8624 GBP |
| 10p ordinary | CFD | increasing a short position | 45,413 | 4.8827 GBP |
| 10p ordinary | CFD | increasing a short position | 3,644 | 4.8881 GBP |
| 10p ordinary | CFD | increasing a short position | 16 | 4.8980 GBP |
| 10p ordinary | CFD | increasing a short position | 96,301 | 4.9016 GBP |
| 10p ordinary | CFD | increasing a short position | 12 | 4.9017 GBP |
| 10p ordinary | CFD | increasing a short position | 250,000 | 4.9063 GBP |
| 10p ordinary | CFD | increasing a short position | 8,813 | 4.9092 GBP |
| 10p ordinary | CFD | increasing a short position | 2,170 | 4.9110 GBP |
| 10p ordinary | CFD | increasing a short position | 8,799 | 4.9125 GBP |
| 10p ordinary | CFD | increasing a short position | 32,366 | 4.9167 GBP |
| 10p ordinary | CFD | increasing a short position | 711 | 4.9190 GBP |
| 10p ordinary | CFD | increasing a short position | 4,313 | 4.9214 GBP |
| 10p ordinary | CFD | increasing a short position | 47,127 | 4.9217 GBP |
| 10p ordinary | CFD | increasing a short position | 55,108 | 4.9222 GBP |
| 10p ordinary | CFD | increasing a short position | 8 | 4.9280 GBP |
| 10p ordinary | CFD | increasing a short position | 18 | 4.9280 GBP |
| 10p ordinary | CFD | increasing a short position | 461 | 4.9281 GBP |
| 10p ordinary | CFD | reducing a long position | 3,735 | 4.8759 GBP |
| 10p ordinary | CFD | reducing a long position | 1 | 4.9010 GBP |
| 10p ordinary | CFD | reducing a long position | 4,216 | 4.9110 GBP |
| 10p ordinary | CFD | reducing a long position | 5,032 | 4.9150 GBP |
| 10p ordinary | CFD | reducing a long position | 361 | 4.9157 GBP |
| 10p ordinary | CFD | reducing a long position | 176 | 4.9173 GBP |
| 10p ordinary | CFD | reducing a long position | 9,550 | 4.9217 GBP |
| 10p ordinary | CFD | reducing a long position | 2,699 | 4.9280 GBP |
| 10p ordinary | CFD | reducing a long position | 94 | 4.9280 GBP |
| 10p ordinary | CFD | reducing a long position | 7,025 | 4.9281 GBP |
| 10p ordinary | CFD | reducing a long position | 5,507 | 4.9290 GBP |
| 10p ordinary | CFD | reducing a short position | 5,990 | 4.8486 GBP |
| 10p ordinary | CFD | reducing a short position | 2,170 | 4.8489 GBP |
| 10p ordinary | CFD | reducing a short position | 2,839 | 4.8513 GBP |
| 10p ordinary | CFD | reducing a short position | 152 | 4.8743 GBP |
| 10p ordinary | CFD | reducing a short position | 12,173 | 4.8808 GBP |
| 10p ordinary | CFD | reducing a short position | 293 | 4.8809 GBP |
| 10p ordinary | CFD | reducing a short position | 346 | 4.8841 GBP |
| 10p ordinary | CFD | reducing a short position | 18 | 4.8953 GBP |
| 10p ordinary | CFD | reducing a short position | 731 | 4.9001 GBP |
| 10p ordinary | CFD | reducing a short position | 87,587 | 4.9003 GBP |
| 10p ordinary | CFD | reducing a short position | 1 | 4.9035 GBP |
| 10p ordinary | CFD | reducing a short position | 6,986 | 4.9077 GBP |
| 10p ordinary | CFD | reducing a short position | 59,289 | 4.9085 GBP |
| 10p ordinary | CFD | reducing a short position | 6,748 | 4.9085 GBP |
| 10p ordinary | CFD | reducing a short position | 107 | 4.9163 GBP |
| 10p ordinary | CFD | reducing a short position | 293 | 4.9184 GBP |
| 10p ordinary | CFD | reducing a short position | 128 | 4.9185 GBP |
| 10p ordinary | CFD | reducing a short position | 10,200 | 4.9199 GBP |
| 10p ordinary | CFD | reducing a short position | 62,533 | 4.9207 GBP |
| 10p ordinary | CFD | reducing a short position | 3,148 | 4.9231 GBP |
| 10p ordinary | CFD | reducing a short position | 2,432 | 4.9232 GBP |
| 10p ordinary | CFD | reducing a short position | 40,949 | 4.9273 GBP |
| 10p ordinary | CFD | reducing a short position | 5,858 | 4.9274 GBP |
| 10p ordinary | CFD | reducing a short position | 53 | 4.9277 GBP |
| 10p ordinary | CFD | reducing a short position | 25,020 | 4.9280 GBP |
| 10p ordinary | CFD | reducing a short position | 764 | 4.9280 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: | 08 May 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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