t
Morgan Stanley & Co. International plc, an exempt principal trader, disclosed dealings in 1p ordinary shares of Alphawave IP Group plc on 29 July 2025, in the context of an offer also involving Aqua Acquisition Sub LLC. The firm purchased 146,996 shares at prices between 1.7440 GBP and 1.7550 GBP, and sold 354,013 shares at prices from 1.7450 GBP to 1.7550 GBP. Additionally, Morgan Stanley undertook various cash-settled derivative transactions (CFDs) involving increasing and reducing long and short positions in Alphawave IP Group plc's shares, with corresponding reference security numbers and prices.
| Date | 30 Jul 2025 |
| Time | 11:05:30 |
| Category | Holding(s) in company |
| ID | 2035T |
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 |
Alphawave IP Group plc |
|
(c) Name of the party to the offer with which exempt principal trader is connected: |
Alphawave IP Group plc |
|
(d) Date dealing undertaken: |
29 July 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" |
YES - Aqua Acquisition Sub LLC (an indirect wholly-owned subsidiary of Qualcomm Incorporated) |
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 |
|
1p ordinary |
PURCHASES |
146,996 |
1.7550 GBP |
1.7440 GBP |
|
1p ordinary |
SALES |
354,013 |
1.7550 GBP |
1.7450 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 |
|
1p ordinary |
CFD |
increasing a long position |
120 |
1.7494 GBP |
|
1p ordinary |
CFD |
increasing a long position |
4,796 |
1.7496 GBP |
|
1p ordinary |
CFD |
increasing a long position |
1,730 |
1.7500 GBP |
|
1p ordinary |
CFD |
increasing a short position |
2 |
1.7470 GBP |
|
1p ordinary |
CFD |
increasing a short position |
463,023 |
2.3393 USD |
|
1p ordinary |
CFD |
reducing a long position |
47 |
1.7470 GBP |
|
1p ordinary |
CFD |
reducing a long position |
252 |
1.7474 GBP |
|
1p ordinary |
CFD |
reducing a long position |
918 |
1.7479 GBP |
|
1p ordinary |
CFD |
reducing a long position |
3,252 |
1.7484 GBP |
|
1p ordinary |
CFD |
reducing a long position |
1,315 |
1.7484 GBP |
|
1p ordinary |
CFD |
reducing a long position |
24 |
1.7493 GBP |
|
1p ordinary |
CFD |
reducing a long position |
13,095 |
1.7493 GBP |
|
1p ordinary |
CFD |
reducing a long position |
3,790 |
1.7494 GBP |
|
1p ordinary |
CFD |
reducing a long position |
6,314 |
1.7506 GBP |
|
1p ordinary |
CFD |
reducing a long position |
7,492 |
1.7509 GBP |
|
1p ordinary |
CFD |
reducing a short position |
3,745 |
1.7470 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: |
30 July 2025 |
Contact name: |
Claire Gordon |
Telephone number: |
+44 141 245-8893 |
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.