Future : Form 8.5 (EPT/RI)

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY

Rule 8.5 of the Takeover Code (the 'Code')

1. KEY INFORMATION

(a) Name of exempt principal trader:	(GS) GOLDMAN SACHS INTERNATIONAL
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	FUTURE PLC
(c) Name of the party to the offer with which exempt principal trader is connected:	FUTURE PLC
(d) Date dealing undertaken:	27 November 2020
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state 'N/A'	YES - disclosed previously for GOCO GROUP PLC

2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
15p ordinary	Purchases	135,652	17.6200 GBP	16.3200 GBP
15p ordinary	Sales	120,711	17.5400 GBP	16.3200 GBP

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
15p ordinary	CFD	Reducing a short position	201	16.4600 GBP
15p ordinary	CFD	Reducing a short position	256	16.4600 GBP
15p ordinary	CFD	Reducing a short position	2,880	16.4778 GBP
15p ordinary	CFD	Reducing a long position	157	16.5319 GBP
15p ordinary	CFD	Reducing a long position	130	16.5319 GBP
15p ordinary	CFD	Reducing a long position	16	16.5319 GBP
15p ordinary	CFD	Opening a long position	276	16.5584 GBP
15p ordinary	CFD	Reducing a short position	121	16.5721 GBP
15p ordinary	CFD	Increasing a short position	207	16.5919 GBP
15p ordinary	CFD	Increasing a short position	366	16.5919 GBP
15p ordinary	CFD	Increasing a short position	848	16.5919 GBP
15p ordinary	CFD	Increasing a short position	95	16.5919 GBP
15p ordinary	CFD	Increasing a short position	153	16.5919 GBP
15p ordinary	CFD	Increasing a short position	256	16.5919 GBP
15p ordinary	CFD	Increasing a short position	1,301	16.5919 GBP
15p ordinary	CFD	Reducing a long position	546	16.6024 GBP
15p ordinary	CFD	Reducing a long position	451	16.6024 GBP
15p ordinary	CFD	Reducing a long position	55	16.6024 GBP
15p ordinary	CFD	Reducing a long position	68	16.6179 GBP
15p ordinary	CFD	Reducing a long position	56	16.6179 GBP
15p ordinary	CFD	Reducing a long position	7	16.6179 GBP
15p ordinary	CFD	Reducing a long position	103	16.6199 GBP
15p ordinary	CFD	Reducing a long position	85	16.6199 GBP
15p ordinary	CFD	Reducing a long position	10	16.6199 GBP
15p ordinary	CFD	Reducing a short position	431	16.6252 GBP
15p ordinary	CFD	Increasing a short position	3,853	16.6576 GBP
15p ordinary	CFD	Increasing a short position	550	16.6787 GBP
15p ordinary	CFD	Reducing a long position	63	16.6908 GBP
15p ordinary	CFD	Reducing a long position	52	16.6908 GBP
15p ordinary	CFD	Reducing a long position	6	16.6908 GBP
15p ordinary	CFD	Increasing a short position	4,606	16.6926 GBP
15p ordinary	CFD	Opening a short position	738	16.7782 GBP
15p ordinary	CFD	Reducing a short position	2,203	16.8000 GBP
15p ordinary	CFD	Reducing a short position	1,562	16.8000 GBP
15p ordinary	CFD	Reducing a short position	40	16.8000 GBP
15p ordinary	CFD	Increasing a short position	3,027	16.8077 GBP
15p ordinary	CFD	Reducing a long position	126	16.8625 GBP
15p ordinary	CFD	Reducing a long position	104	16.8625 GBP
15p ordinary	CFD	Reducing a long position	13	16.8625 GBP
15p ordinary	CFD	Reducing a long position	133	16.9204 GBP
15p ordinary	CFD	Reducing a long position	111	16.9204 GBP
15p ordinary	CFD	Reducing a long position	14	16.9204 GBP
15p ordinary	CFD	Increasing a long position	101	16.9556 GBP
15p ordinary	CFD	Reducing a short position	2,500	16.9649 GBP
15p ordinary	CFD	Reducing a long position	132	16.9825 GBP
15p ordinary	CFD	Reducing a long position	109	16.9825 GBP
15p ordinary	CFD	Reducing a long position	13	16.9825 GBP
15p ordinary	CFD	Reducing a long position	3,481	17.5400 GBP
15p ordinary	CFD	Reducing a short position	10,986	17.5400 GBP
15p ordinary	CFD	Increasing a short position	67	17.5400 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising / exercised against	Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

3. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none'

NONE

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state 'none'

NONE

Date of disclosure:	30 November 2020
Contact name:	Paul Grainger and Kashif Rafiq
Telephone number:	[phone] / [phone]

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [e-mail]. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.