REG - Morgan Stanley Dundee Precious Met. - Form 8.3 - Dundee Precious Metals Inc
27/08/2025 14:00
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RNS Number : 9133W Morgan Stanley 27 August 2025
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: Morgan Stanley
(b) Owner or controller of interests and short positions disclosed, if Morgan Stanley Canada Limited
different from 1(a):
Morgan Stanley Europe SE
The naming of nominee or vehicle companies is insufficient. For a
trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form Dundee Precious Metals Inc.
relates:
Use a separate form for each offeror/offeree
(d) If an exempt fund manager connected with an offeror/offeree, state this N/A
and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken: 26 August 2025
For an opening position disclosure, state the latest practicable date
prior to the disclosure
(f) In addition to the company in 1(c) above, is the discloser making YES -Adriatic Metals plc
disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one
class of relevant securities of the offeror or offeree named in 1(c), copy
table 2(a) or (b) (as appropriate) for each additional class of relevant
security.
(a) Interests and short positions in the relevant securities of
the offeror or offeree to which the disclosure relates following the dealing
(if any)
Class of relevant security: Common
Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled: 2,549,117 1.53 2,549,117 1.53
(2) Cash-settled derivatives: 2,523,549 1.51 476,670 0.29
(3) Stock-settled derivatives (including options) and agreements to 0 0.00 0 0.00
purchase/sell:
5,072,666 3.04 3,025,787 1.82
TOTAL:
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded
options), or agreements to purchase or sell relevant securities, should be
given on a Supplemental Form 8 (Open Positions).
(b) Rights to subscribe for new securities (including directors'
and other employee options
Class of relevant security in relation to which subscription right exists: NO
Details, including nature of the rights concerned and relevant percentages: NO
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities
of the offeror or offeree named in 1(c), copy table 3(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 Purchase/sale Number of securities Price per unit
Common PURCHASE 300 25.4767 CAD
Common PURCHASE 4,200 25.5952 CAD
Common PURCHASE 600 25.5983 CAD
Common PURCHASE 12,900 25.6079 CAD
Common PURCHASE 23,800 25.6317 CAD
Common PURCHASE 9,200 25.6453 CAD
Common PURCHASE 12,300 25.6695 CAD
Common PURCHASE 74,144 25.7000 CAD
Common SALE 11,833 25.5476 CAD
Common SALE 13,338 25.5786 CAD
Common SALE 2,000 25.6105 CAD
Common SALE 3,400 25.6182 CAD
Common SALE 4,446 25.6257 CAD
Common SALE 19,203 25.6331 CAD
Common SALE 56,333 25.6564 CAD
Common SALE 26,764 25.6845 CAD
Common SALE 127 25.7000 CAD
Common PURCHASE 4 25.5950 CAD
Common SALE 4 25.5950 CAD
(b) Cash-settled derivative transactions
Class of relevant security Product description Nature of dealing Number of reference securities Price per unit
e.g. CFD e.g. opening/closing a long/short position, increasing/reducing a long/short
position
Common CFD increasing a long position 5,767 25.5476 CAD
Common CFD increasing a long position 802 25.5476 CAD
Common CFD increasing a long position 670 25.5476 CAD
Common CFD increasing a long position 3,525 25.5476 CAD
Common CFD increasing a long position 1,069 25.5476 CAD
Common CFD increasing a long position 1,746 25.5557 CAD
Common CFD increasing a long position 11,274 25.5820 CAD
Common CFD increasing a long position 318 25.5863 CAD
Common CFD increasing a long position 2,764 25.6246 CAD
Common CFD increasing a long position 2,572 25.6287 CAD
Common CFD increasing a long position 3,981 25.6287 CAD
Common CFD increasing a long position 7,650 25.6287 CAD
Common CFD increasing a long position 38,233 25.6358 CAD
Common CFD increasing a long position 95 25.6452 CAD
Common CFD increasing a long position 535 25.6453 CAD
Common CFD increasing a long position 1,218 25.6453 CAD
Common CFD increasing a long position 142 25.6453 CAD
Common CFD increasing a long position 2,333 25.6453 CAD
Common CFD increasing a long position 677 25.6453 CAD
Common CFD increasing a long position 4,000 25.6481 CAD
Common CFD increasing a long position 100 25.6900 CAD
Common CFD increasing a long position 18,000 25.7000 CAD
Common CFD increasing a long position 20,000 25.7000 CAD
Common CFD increasing a short position 1,500 25.4500 CAD
Common CFD increasing a short position 10,800 25.7000 CAD
Common CFD reducing a long position 400 25.5913 CAD
Common CFD reducing a long position 4,200 25.5953 CAD
Common CFD reducing a long position 12,529 25.5962 CAD
Common CFD reducing a long position 12,900 25.6079 CAD
Common CFD reducing a long position 200 25.6125 CAD
Common CFD reducing a long position 9,200 25.6453 CAD
Common CFD reducing a long position 11,271 25.6712 CAD
Common CFD reducing a short position 2,000 25.6105 CAD
Common CFD reducing a short position 3,400 25.6182 CAD
Common CFD reducing a short position 4,446 25.6257 CAD
(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 Expiry date Option money paid/ received per unit
e.g. American, European etc.
N/A N/A N/A N/A N/A N/A N/A N/A
(ii) Exercise
Class of relevant security Product description Exercising/ exercised against Number of securities Exercise price per unit
e.g. call option
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 Details Price per unit (if applicable)
e.g. subscription, conversion
N/A N/A N/A N/A
4. 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 person
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 person 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
(c) Attachments
Is a Supplemental Form 8 (Open Positions) attached? NO
Date of disclosure: 27 August 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 disclosure requirements on +44 (0)20 7638 0129.
*If the discloser is a natural person, a telephone number does not need to be
included, provided contact information has been provided to the Panel's Market
Surveillance Unit.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk
(http://www.thetakeoverpanel.org.uk) .
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