J.P. Morgan Markets Limited has filed a Form 38.5(b) and 38.6 dealing disclosure with the Irish Takeover Panel in relation to DCC Energy plc, the energy division subject to a formal offer process. The disclosure, dated 12 November 2026 and covering a position held on 11 November 2026, was made under the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. J.P. Morgan Markets Limited acted in its capacity as a connected exempt principal trader, with the firm identified as corporate broker and financial adviser to DCC Energy plc. Investors monitoring the DCC Energy offer process will note the matched nature of the trades disclosed and the firm's nil net position in the company's shares.

Key Points

  • DCC Energy plc (DCC) — dealing disclosure filed by connected exempt principal trader J.P. Morgan Markets Limited
  • J.P. Morgan Markets Limited purchased and sold 263 €0.25 ordinary shares in DCC Energy plc on 11 November 2026
  • Trades were executed at prices ranging from 64.55 GBP to 64.65 GBP per unit; total declared interests and short positions stand at zero
  • Investors should watch for further Rule 38 disclosures as the DCC Energy offer process continues under Irish Takeover Panel oversight

J.P. Morgan Markets Limited's Role as Connected Exempt Principal Trader to DCC Energy plc

Under the Irish Takeover Panel Act, 1997, Takeover Rules, 2022, any connected exempt principal trader is required to disclose dealings in relevant securities of an offeror or offeree during an offer period. J.P. Morgan Markets Limited filed this disclosure in its capacity as corporate broker and financial adviser to DCC Energy plc, making it a connected party for the purposes of Rule 38. The firm submitted the form without Recognised Intermediary status, or alternatively without dealing in a client-serving capacity, as defined within the applicable rules. Contact for the disclosure was listed as Natasha Mondon.

Matched Purchases and Sales of 263 DCC Energy Ordinary Shares at Up to 64.65 GBP

The disclosure reveals that J.P. Morgan Markets Limited purchased 263 €0.25 ordinary shares in DCC Energy plc and simultaneously sold 263 of the same class of shares on 11 November 2026. The highest price paid or received per unit was 64.65 GBP, with the lowest recorded at 64.55 GBP. No cash-settled derivative transactions, stock-settled derivative transactions, or other dealings were reported in the accompanying tables. The matched volume of purchases and sales indicates the firm carried no residual directional exposure from these transactions.

Nil Net Interest Position and Absence of Indemnity Arrangements Confirmed by J.P. Morgan

Following the dealings disclosed, J.P. Morgan Markets Limited reported a total interest of zero and a total short position of zero across all categories of relevant securities in DCC Energy plc, including securities owned or controlled, cash-settled derivatives, and stock-settled derivatives. The firm confirmed that no indemnity arrangements, options, or agreements relating to relevant securities existed that could constitute an inducement to deal or refrain from dealing. No agreements relating to voting rights or future acquisition or disposal of relevant securities were reported, and no Supplemental Form 8 was attached to the disclosure.

Irish Takeover Panel Rule 38 Obligations During the DCC Energy Offer Period

Dealings disclosures of this nature are a standard regulatory requirement under Rule 38 of the Irish Takeover Rules, 2022, during an active offer period. Connected principal traders such as corporate brokers and financial advisers are obligated to file these forms publicly via a Regulatory Information Service each time they deal in relevant securities. The disclosure does not indicate any change in the structure or terms of the offer for DCC Energy plc, nor does it confirm the identity or terms of any offeror. Investors may be watching for further regulatory filings as the offer timetable progresses.