Merrill Lynch International, acting as a connected exempt principal trader, has filed a Form 38.5(a) dealing disclosure with the Irish Takeover Panel relating to Irish Residential Properties REIT PLC (0QT8), the Dublin-based residential property investment trust. The disclosure, dated 5 November 2026 and covering dealings undertaken on 4 November 2026, was filed under Rule 38.5(a) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. Merrill Lynch International is connected to Baring International Investment Limited, identified as a party to the offer. Investors in Irish Residential Properties REIT may note the scale and nature of the disclosed transactions as the takeover situation develops.

Key Points

  • Bank of America Merrill Lynch / Merrill Lynch International (0QT8 — Irish Residential Properties REIT PLC)
  • Merrill Lynch International disclosed purchases and sales of Irish Residential Properties REIT ordinary shares, plus equity swap activity, on 4 November 2026
  • Purchases totalled 131,176 shares at prices between €1.296 and €1.310; sales totalled 32,361 shares at prices between €1.294 and €1.312
  • Investors should watch for further Rule 38 disclosures as the offer involving Baring International Investment Limited progresses

Merrill Lynch International's Share Purchases and Sales in Irish Residential Properties REIT on 4 November 2026

The disclosure states that Merrill Lynch International purchased 131,176 €0.10 ordinary shares in Irish Residential Properties REIT PLC on 4 November 2026, with the highest price paid per unit recorded at €1.310 and the lowest at €1.296. Separately, the firm sold 32,361 ordinary shares in the same class, with the highest price received at €1.312 and the lowest at €1.294. These transactions were carried out in a client-serving capacity, consistent with the firm's status as a recognised intermediary and connected exempt principal trader under the Irish Takeover Rules.

Equity Swap Activity Referenced to Irish Residential Properties REIT Ordinary Shares

Beyond direct share transactions, the announcement also discloses a series of cash-settled equity swap dealings referencing Irish Residential Properties REIT's €0.10 ordinary shares. These included reducing a short position on 5,454 reference securities at €1.302226, increasing a short position on 5,393 securities at €1.305050, increasing a short position on 13,920 securities at €1.300000, increasing a short position on 111,863 securities at €1.299349, and reducing a short position on 24,577 securities at €1.302226. The announcement does not detail any indemnity, option arrangement or agreement relating to voting rights connected to these derivative instruments.

Connection to Baring International Investment Limited and Irish Takeover Panel Oversight

The Form 38.5(a) filing identifies Baring International Investment Limited as the party to the offer with which Merrill Lynch International is connected, confirming that Irish Residential Properties REIT PLC is subject to an active offer process overseen by the Irish Takeover Panel. Irish Residential Properties REIT is a publicly listed real estate investment trust focused on the Irish residential property sector. Dealings by connected exempt principal traders must be publicly disclosed under Rule 38 of the Takeover Rules, ensuring transparency around market activity during the offer period. The disclosure was made by contact Kamil Dziedzic.