JPMorgan Securities Plc has filed a Form 38.5(a) dealing disclosure with the Irish Takeover Panel, reporting transactions in DCC Energy plc (DCC) €0.25 ordinary shares conducted on 3 November 2026. The disclosure was submitted on 4 November 2026 and covers JPMorgan's activity as a connected exempt principal trader acting in a client-serving capacity. JPMorgan is identified in the filing as corporate broker and financial adviser to DCC Energy plc, making this disclosure a regulatory requirement under Rule 38.5(a) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. Investors monitoring the DCC Energy takeover process may note the breadth of activity reported across both outright share dealings and cash-settled derivative transactions.

Key Points

  • DCC Energy plc (DCC) — filing made by connected exempt principal trader JPMorgan Securities Plc
  • JPMorgan reported purchases of 69,998 DCC Energy ordinary shares and sales of 99,235 shares on 3 November 2026
  • Share prices ranged between 64.4450 GBP and 64.5539 GBP across purchase and sale transactions
  • Investors should watch for further Rule 38 disclosures as the DCC Energy offer process continues

JPMorgan's Outright Share Purchases and Sales in DCC Energy on 3 November 2026

The filing records that JPMorgan Securities Plc purchased 69,998 DCC Energy €0.25 ordinary shares, with prices ranging from a low of 64.4500 GBP to a high of 64.5539 GBP per unit. On the sell side, 99,235 shares were sold at prices between 64.4450 GBP and 64.5500 GBP per unit. The disclosure also records new borrow activity of 24,695 securities and 275,573 securities with no price applicable, alongside a loan return of 73 securities and a borrow return of 56,831 securities, reflecting the full scope of JPMorgan's market-making and client-serving operations in DCC Energy shares on that date.

Cash-Settled Equity Swap Activity Across Multiple DCC Energy Positions

Beyond outright share dealings, JPMorgan reported a substantial number of cash-settled equity swap transactions referencing DCC Energy €0.25 ordinary shares. These included decreases in both long and short positions, as well as increases in long and short exposures, across a range of prices broadly clustering around 64.55 GBP. The largest single equity swap transaction recorded was a decrease in a long position involving 51,509 reference securities at 64.5500 GBP per unit. The filing states that no indemnity arrangements, options, or agreements relating to voting rights on these derivatives were in place at the time of disclosure.

DCC Energy Plc's Role as Offeree and JPMorgan's Connected Status Under Irish Takeover Rules

DCC Energy plc, the offeree named in the disclosure, is a diversified energy distribution business operating across multiple European markets. Under the Irish Takeover Panel Act, 1997, Takeover Rules, 2022, any connected exempt principal trader with recognised intermediary status that deals in a client-serving capacity must file a Form 38.5(a) disclosure. JPMorgan's connected status stems directly from its role as corporate broker and financial adviser to DCC Energy plc. The contact named in the filing is Natasha Mondon, reachable at the telephone number provided. The filing confirms this is a cash offer or possible cash offer, with the N/A designation applied to disclosures regarding other parties to the offer.