Bank of America Merrill Lynch, acting through BofA Securities Europe SA, has filed a Form 38.5(b) opening position disclosure with the Irish Takeover Panel on 10 November 2026, relating to Irish Residential Properties REIT PLC (0QT8). The disclosure, made under Rule 38.5(b) and Rule 38.6 of the Irish Takeover Panel Act 1997, Takeover Rules 2022, confirms that BofA Securities Europe SA holds 64,557 ordinary shares, representing 0.012% of the company's relevant securities. The filing identifies Baring International Investment Limited as the party to the offer with which the exempt principal trader is connected, a detail investors in the Irish residential property sector will note closely.

Key Points

  • Irish Residential Properties REIT PLC (0QT8) is the offeree named in this Irish Takeover Panel disclosure
  • BofA Securities Europe SA filed a Form 38.5(b) opening position disclosure dated 10 November 2026, with positions held as at 9 November 2026
  • The exempt principal trader holds 64,557 ordinary shares (0.012%) with no short positions, cash-settled derivatives, or stock-settled derivatives disclosed
  • Investors should watch for further Rule 38 disclosures as the offer process involving Baring International Investment Limited develops

BofA Securities Europe SA's Opening Position in Irish Residential Properties REIT PLC

The disclosure confirms that as at 9 November 2026, BofA Securities Europe SA held 64,557 ordinary €0.10 shares in Irish Residential Properties REIT PLC, equating to 0.012% of the relevant share class. The filing records no short positions across any category, and no cash-settled or stock-settled derivative positions are disclosed. The company did not disclose the aggregate market value of this holding in the announcement. This filing is classified as an opening position disclosure under the Irish Takeover Panel's mandatory transparency regime, which requires connected exempt principal traders to report their interests when an offer or possible offer is underway.

Share Purchases, Sales and Borrowing Activity on 9 November 2026

The announcement details dealings in €0.10 ordinary shares conducted on 9 November 2026. BofA Securities Europe SA purchased 108,813 shares at prices ranging from €1.280 to €1.370 per unit, and separately sold 108,813 shares at prices between €1.294 and €1.370 per unit. In addition, the firm undertook a borrow of 14,091 shares at a price of €1.302 per unit. No cash-settled or stock-settled derivative transactions were reported. These dealings reflect the firm's activity as a connected exempt principal trader without recognised intermediary status, as defined under the Irish Takeover Rules 2022.

Baring International Investment Limited Named as Connected Offer Party

A notable element of the disclosure is the identification of Baring International Investment Limited as the party to the offer with which BofA Securities Europe SA is connected. Irish Residential Properties REIT PLC is a Dublin-based real estate investment trust focused on the Irish residential property market. The announcement confirms this is a cash offer or possible cash offer, as the form records "N/A" in response to whether disclosures are being made in respect of any other party. No indemnity arrangements, options agreements, or supplemental Form 8 attachments are included in this filing.