REG - Morgan Stanley Dundee Precious Met. - Form 8.3 -Dundee Precious Metals Inc.
29/08/2025 12:15
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RNS Number : 2673X Morgan Stanley 29 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: 28 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: 2,840,853 1.7 2,840,853 1.7
(2) Cash-settled derivatives: 2,987,205 1.79 472,656 0.28
(3) Stock-settled derivatives (including options) and agreements to 0 0.00 0 0.00
purchase/sell:
5,828,058 3.49 3,313,509 1.98
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 476,845 24.7200 CAD
Common PURCHASE 48,400 24.7204 CAD
Common PURCHASE 14,262 24.7692 CAD
Common PURCHASE 3,700 24.7900 CAD
Common PURCHASE 22,700 24.8258 CAD
Common PURCHASE 12,700 24.8598 CAD
Common PURCHASE 23,500 24.9119 CAD
Common PURCHASE 200 25.0250 CAD
Common SALE 39,900 24.7200 CAD
Common SALE 300 24.7633 CAD
Common SALE 2,060 24.8028 CAD
Common SALE 188,131 24.8044 CAD
Common SALE 7,323 24.8064 CAD
Common SALE 85,262 24.8096 CAD
Common SALE 228,826 24.8114 CAD
Common SALE 34,126 24.8274 CAD
Common SALE 9,400 24.8597 CAD
Common SALE 5,130 24.8862 CAD
Common SALE 100 24.9700 CAD
Common SALE 1,749 25.0826 CAD
Common PURCHASE 21 24.5200 CAD
Common PURCHASE 2 24.8400 CAD
Common PURCHASE 1,618 24.8887 CAD
Common PURCHASE 7,000 25.1100 CAD
Common SALE 21 24.5200 CAD
Common SALE 2 24.8400 CAD
Common SALE 1,618 24.8887 CAD
Common SALE 7,000 25.1100 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 2,060 24.8028 CAD
Common CFD increasing a long position 3,496 24.8031 CAD
Common CFD increasing a long position 23,812 24.8031 CAD
Common CFD increasing a long position 44,944 24.8031 CAD
Common CFD increasing a long position 7,510 24.8031 CAD
Common CFD increasing a long position 86,143 24.8031 CAD
Common CFD increasing a long position 19,726 24.8031 CAD
Common CFD increasing a long position 85,262 24.8096 CAD
Common CFD increasing a long position 228,826 24.8114 CAD
Common CFD increasing a long position 13,497 24.8115 CAD
Common CFD increasing a long position 72,711 24.8115 CAD
Common CFD increasing a long position 10,501 24.8115 CAD
Common CFD increasing a long position 8,611 24.8115 CAD
Common CFD increasing a long position 50,500 24.8115 CAD
Common CFD increasing a long position 5,130 24.8862 CAD
Common CFD increasing a long position 71 24.8990 CAD
Common CFD increasing a long position 47 24.8991 CAD
Common CFD increasing a long position 267 24.8992 CAD
Common CFD increasing a long position 1,168 24.8992 CAD
Common CFD increasing a long position 609 24.8992 CAD
Common CFD increasing a long position 338 24.8992 CAD
Common CFD increasing a long position 100 24.9700 CAD
Common CFD increasing a long position 1,749 25.0826 CAD
Common CFD increasing a short position 67,395 24.7200 CAD
Common CFD increasing a short position 9,800 24.7200 CAD
Common CFD increasing a short position 98,974 24.7200 CAD
Common CFD increasing a short position 11,000 24.9277 CAD
Common CFD increasing a short position 1,200 25.1100 CAD
Common CFD reducing a long position 11,131 24.7200 CAD
Common CFD reducing a long position 49,005 24.7200 CAD
Common CFD reducing a long position 48,400 24.7204 CAD
Common CFD reducing a long position 1,200 24.7301 CAD
Common CFD reducing a long position 3,700 24.7900 CAD
Common CFD reducing a long position 3,262 24.7914 CAD
Common CFD reducing a long position 11,500 24.8735 CAD
Common CFD reducing a long position 23,500 24.9119 CAD
Common CFD reducing a long position 569 24.9277 CAD
Common CFD reducing a long position 100 25.0250 CAD
Common CFD reducing a long position 100 25.0250 CAD
Common CFD reducing a short position 39,800 24.7200 CAD
Common CFD reducing a short position 100 24.7200 CAD
Common CFD reducing a short position 456 24.7492 CAD
Common CFD reducing a short position 300 24.7633 CAD
Common CFD reducing a short position 4,199 24.8100 CAD
Common CFD reducing a short position 2,668 24.8103 CAD
Common CFD reducing a short position 31,626 24.8193 CAD
Common CFD reducing a short position 9,400 24.8597 CAD
Common CFD reducing a short position 2,500 24.9306 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: 29 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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