J.P. Morgan Securities Plc has filed a Form 38.5(a) dealing disclosure with the Irish Takeover Panel, revealing trading activity in DCC Energy plc (DCC) ordinary shares conducted on 6 November 2026. The disclosure was published on 9 November 2026 and relates to J.P. Morgan's role as an exempt principal trader acting in a client-serving capacity, with the firm identified as corporate broker and financial adviser to DCC Energy plc. The filing covers purchases, sales, stock borrowing activity, and cash-settled equity swap transactions, all executed in DCC Energy's €0.25 ordinary shares at prices ranging between approximately 64.50 GBP and 64.60 GBP per unit.

Key Points

  • DCC Energy plc (DCC) — dealing disclosure filed by connected exempt principal trader J.P. Morgan Securities Plc
  • J.P. Morgan purchased 65,773 shares and sold 487,104 shares in DCC Energy on 6 November 2026, in a client-serving capacity
  • Trading prices ranged from 64.4971 GBP to 64.6032 GBP per €0.25 ordinary share; equity swap positions were also adjusted
  • Investors may watch for further Rule 38 disclosures as the offer situation around DCC Energy continues to develop

J.P. Morgan's Purchases, Sales and Stock Borrowing in DCC Energy Ordinary Shares

On 6 November 2026, J.P. Morgan Securities Plc purchased 65,773 of DCC Energy's €0.25 ordinary shares, with the highest price paid reaching 64.6032 GBP and the lowest 64.5000 GBP per unit. On the same date, the firm sold 487,104 shares, with prices ranging from 64.4971 GBP to 64.6000 GBP. The disclosure also records a new borrow of 300,000 shares, a borrow return of 300,000 shares, and a loan return of 246 shares, each reported with no applicable price, consistent with standard stock lending practice under Irish Takeover Panel disclosure rules.

Equity Swap Adjustments Reflect Multiple Position Changes Across DCC Energy Securities

Alongside outright share transactions, J.P. Morgan reported a series of cash-settled equity swap dealings referencing DCC Energy's €0.25 ordinary shares. These included decreases and increases to both long and short positions across numerous trade lines, with individual transaction sizes ranging from 3 to 37,624 reference securities. Prices on these derivative transactions clustered between 64.4936 GBP and 64.6032 GBP per unit. The announcement states that no indemnity arrangements, options, or agreements relating to voting rights or future acquisitions were entered into in connection with these dealings.

J.P. Morgan's Connected Status as Corporate Broker and Adviser to DCC Energy

The disclosure identifies J.P. Morgan Securities Plc as both corporate broker and financial adviser to DCC Energy plc, making it a connected exempt principal trader under Rule 2.2 of the Irish Takeover Panel Act 1997, Takeover Rules 2022. The firm holds Recognised Intermediary status and is disclosing in a client-serving capacity. The filing confirms this is a cash offer or possible cash offer situation, indicated by the "N/A" response to whether disclosures are being made in respect of any other party to the offer. Contact for the disclosure is listed as Natasha Mondon.