Merrill Lynch International, the exempt principal trader arm of Bank of America Merrill Lynch, has filed a Form 38.5(a) dealing disclosure with the Irish Takeover Panel relating to Irish Residential Properties REIT PLC (ticker: 0QT8), covering transactions undertaken on 11 November 2026. The disclosure was made in connection with Baring International Investment Limited, identified as the party to the offer with which the exempt principal trader is connected. Under Irish Takeover Panel Act 1997 rules, connected exempt principal traders dealing in client-serving capacities must publicly disclose such activity, making this filing a regulated transparency requirement rather than a discretionary announcement. Investors tracking the Irish Residential Properties REIT offer process may treat this disclosure as routine regulatory housekeeping rather than a signal of strategic intent.

Key Points

  • Bank of America Merrill Lynch / Merrill Lynch International (0QT8-related disclosure)
  • Merrill Lynch International disclosed purchases, sales, and equity swap transactions in Irish Residential Properties REIT PLC €0.10 ordinary shares on 11 November 2026
  • Purchases totalled 9,169 shares at prices between €1.362 and €1.366; sales totalled 25,570 shares at €1.362 per unit
  • Investors should monitor further Form 38.5 disclosures for any change in net positioning as the offer process continues

Merrill Lynch International's Share Purchases and Sales in Irish Residential Properties REIT on 11 November 2026

According to the filing, Merrill Lynch International purchased 9,169 €0.10 ordinary shares in Irish Residential Properties REIT PLC on 11 November 2026, with the highest price paid recorded at €1.366 per unit and the lowest at €1.362 per unit. On the same date, the trader sold 25,570 shares at a uniform price of €1.362 per unit. Irish Residential Properties REIT PLC is a Dublin-listed real estate investment trust focused on the Irish private residential rental sector, providing investors with exposure to Ireland's residential property market through a regulated REIT structure.

Equity Swap Activity Referenced to Irish Residential Properties REIT Ordinary Shares

Beyond direct share transactions, the disclosure also details cash-settled derivative activity. Merrill Lynch International recorded an equity swap increasing a long position referencing 25,570 Irish Residential Properties REIT ordinary shares at €1.362 per unit, alongside a separate equity swap increasing a short position referencing 9,143 shares at a price of approximately €1.362573 per unit. These transactions are conducted in a client-serving capacity, meaning they reflect activity undertaken on behalf of clients rather than proprietary positioning by the firm itself, as stated in the Form 38.5(a) filing.

Baring International Investment Limited Named as Connected Offer Party Under Irish Takeover Rules

The filing identifies Baring International Investment Limited as the party to the offer with which Merrill Lynch International is connected for the purposes of this disclosure. Under Rule 38.5(a) of the Irish Takeover Panel Act 1997 Takeover Rules 2022, connected exempt principal traders with recognised intermediary status must disclose dealings when acting in a client-serving capacity during an offer period. The disclosure was submitted on 12 November 2026, with contact details provided for Kamil Dziedzic at a Dublin telephone number, confirming the Irish regulatory jurisdiction of the filing.