Bank of America Merrill Lynch, acting through its entity BofA Securities Europe SA, has filed a Form 38.5(b) opening position disclosure with the Irish Takeover Panel in relation to Irish Residential Properties REIT PLC (0QT8), dated 12 November 2026. The disclosure reveals that BofA Securities Europe SA holds a total interest of 165,418 ordinary shares, representing 0.032% of the REIT's relevant securities, with no short positions recorded. The filing connects the exempt principal trader to Baring International Investment Limited as the party to the offer, placing this disclosure in the context of an active takeover process governed by the Irish Takeover Panel Act, 1997.

Key Points

  • Bank of America Merrill Lynch / BofA Securities Europe SA (0QT8) filed a Form 38.5(b) disclosure under Irish Takeover Panel rules
  • BofA Securities Europe SA disclosed a 0.032% interest in Irish Residential Properties REIT PLC, totalling 165,418 ordinary shares
  • Dealings on 11 November 2026 included purchases and sales of 9,167 €0.10 ordinary shares each, plus a borrow of 100,861 shares at 1.362000 EUR
  • Investors should watch for further Rule 38 disclosures as the offer involving Baring International Investment Limited progresses

BofA Securities Europe SA Holds 165,418 Shares in Irish Residential Properties REIT With No Short Positions

The disclosure confirms that BofA Securities Europe SA's total interest in Irish Residential Properties REIT PLC stands at 165,418 ordinary shares, equating to 0.032% of relevant securities. The filing records zero cash-settled derivatives, zero stock-settled derivatives, and zero short positions at the time of disclosure. Irish Residential Properties REIT PLC is a Dublin-based real estate investment trust focused on the Irish private residential rental market, holding a portfolio of residential units across Ireland. The position disclosed comprises solely directly owned or controlled relevant securities, with no supplemental derivative instruments attached to this particular filing.

Dealings on 11 November 2026 Include Share Purchases, Sales and a Borrow of 100,861 Ordinary Shares

On 11 November 2026, BofA Securities Europe SA conducted matched dealings in Irish Residential Properties REIT's €0.10 ordinary shares, purchasing 9,167 shares at prices ranging from 1.360000 EUR to 1.366000 EUR, and selling 9,167 shares at 1.362498 EUR per unit. Additionally, the trader undertook a borrow transaction covering 100,861 shares at a price of 1.362000 EUR. No cash-settled or stock-settled derivative transactions were recorded on that date. The announcement states no indemnity arrangements, options, or agreements relating to voting rights were in place between BofA Securities Europe SA and any party to the offer.

Connected Party Status Links BofA Securities Europe SA to Baring International Investment Limited's Offer for the REIT

The Form 38.5(b) filing identifies Baring International Investment Limited as the party to the offer with which BofA Securities Europe SA is connected, triggering the mandatory disclosure obligations under Rule 38.5(b) and Rule 38.6 of the Irish Takeover Rules, 2022. BofA Securities Europe SA is classified as a connected exempt principal trader without recognised intermediary status, or acting outside a client-serving capacity. The disclosure was prepared by contact Kamil Dziedzic and published on 12 November 2026 via a Regulatory Information Service, as required under Irish Takeover Panel regulations. No supplemental Form 8 was attached to this filing.

Mandatory Irish Takeover Panel Disclosure Signals Ongoing Offer Process Around Irish Residential Properties REIT

The filing of a Rule 38.5(b) form is a standard regulatory requirement during an active or potential offer period under Irish takeover law, designed to ensure market transparency regarding positions held by parties connected to an offeror. For Irish Residential Properties REIT PLC, a residential landlord operating in Ireland's regulated private rental sector, the disclosure signals that formal takeover procedures are under way. Investors may be watching for additional Rule 38 filings from other connected parties, further position changes by BofA Securities Europe SA, or formal offer documentation from Baring International Investment Limited as the process continues.