Barclays PLC (BARC) has filed a Form 38.5(b) disclosure with the Irish Takeover Panel, revealing that its subsidiary Barclays Capital Securities Ltd held a total interest of 2.83% in DCC Energy PLC as of 6 November 2026, in connection with a takeover offer involving Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P. The disclosure was made under Rule 38.5(b) of the Irish Takeover Panel Act, 1997, Takeover Rules 2022, in Barclays Capital Securities' capacity as a connected exempt principal trader. The filing captures both outright share positions and derivative exposures across DCC Energy's €0.25 ordinary shares, offering investors a detailed snapshot of Barclays' market activity during the offer period.

Key Points

  • Barclays PLC (BARC), via subsidiary Barclays Capital Securities Ltd, filed a Form 38.5(b) disclosure with the Irish Takeover Panel
  • Barclays Capital Securities held a total interest of 2,414,004 DCC Energy shares (2.83%) and total short positions of 2,234,145 shares (2.61%) as at 6 November 2026
  • Dealings on 6 November included the purchase of 315,405 DCC Energy ordinary shares and sale of 302,557 shares, with prices ranging from 64.4954 GBP to 64.5750 GBP per unit
  • Investors may be watching whether further disclosures emerge as the Energy Capital Partners and KKR offer for DCC Energy progresses

Barclays Capital Securities' Positions in DCC Energy's €0.25 Ordinary Shares Explained

As of 6 November 2026, Barclays Capital Securities Ltd reported owning and/or controlling 2,392,722 DCC Energy ordinary shares, representing 2.80% of the class, alongside a short position of 22,701 shares (0.03%). Through cash-settled derivatives, the subsidiary held a further long interest of 21,282 shares (0.02%) and a short position of 2,211,444 shares (2.59%). No stock-settled derivatives or options were reported. The combined total interest reached 2,414,004 shares at 2.83%, with total short positions of 2,234,145 shares at 2.61%, according to the announcement.

Share Purchases, Sales and Derivative Activity Recorded on 6 November 2026

On 6 November 2026, Barclays Capital Securities purchased 315,405 DCC Energy ordinary shares at prices between 64.4954 GBP and 64.5750 GBP per unit, and sold 302,557 shares at prices between 64.4980 GBP and 64.5588 GBP per unit. The firm also conducted an extensive series of cash-settled swap and CFD transactions, variously increasing and decreasing both long and short positions, with individual transaction sizes ranging from 4 to 200,000 reference securities. All derivative dealings referenced DCC Energy's €0.25 ordinary shares, with prices clustered around 64.50 GBP per unit.

Connected Party Status: Energy Capital Partners and KKR's Offer for DCC Energy

The disclosure confirms that Barclays Capital Securities is connected to Energy Capital Partners, LLC and Kohlberg Kravis Roberts & Co. L.P., the named offerors in the takeover approach for DCC Energy PLC. The filing states that no indemnity arrangements, options, or agreements relating to voting rights or future acquisition of relevant securities exist between the disclosing party and any offer party. No supplemental Form 8 was attached. The announcement was made by Barclays' Large Holdings Regulatory Operations team and filed on 9 November 2026, three days after the dealing date.