FORM 8.5 (EPT/NON-RI)
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN
EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS
(OR WHERE RI STATUS IS NOT APPLICABLE)
Rule 8.5 of the Takeover Code (the "Code")
1.	KEY INFORMATION
(a)	Name of exempt principal trader:			BARCLAYS CAPITAL SECURITIES LTD
(b)	Name of offeror/offeree in relation to whose relevant securities this form relates:			KEYWORDS STUDIOS PLC
(c)	Name of the party to the offer with which exempt principal trader is connected			KEYWORDS STUDIOS PLC
(d)	Date position held/dealing undertaken:			11 Jun 2024
(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?			NO
2.	POSITIONS OF THE EXEMPT PRINCIPAL TRADER
(a)	Interests and short positions in the relevant securities of the offeror or offeree
	to which the disclosure relates following the dealing (if any)
Class of relevant security:				1p ordinary
				Interests		Short Positions
				Number	(%)	Number	(%)
(1) Relevant securities owned and/or controlled:				594,178	0.74%	337,746	0.42%
(2) Cash-settled derivatives:				336,664	0.42%	586,366	0.73%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:				0	0.00%	0	0.00%
TOTAL:				930,842	1.17%	924,112	1.16%

(b)	Rights to subscribe for new securities (including directors and other executive options)
Class of relevant security in relation to which subscription right exists
Details, including nature of the rights concerned and relevant percentages:
3.	DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER
(a)	Purchase and sales
Class of relevant security	Purchase/sale	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
1p ordinary	Purchase	70985	21.6534 GBP	21.4200 GBP
1p ordinary	Sale	57865	21.6275 GBP	21.4198 GBP

(b)	Cash-settled derivative transactions
Class of relevant security	Product description	Nature of dealing	Number of reference securities	Price per unit
1p ordinary	SWAP	Decreasing Long	98	21.6128 GBP
1p ordinary	SWAP	Decreasing Long	357	21.7485 GBP
1p ordinary	SWAP	Decreasing Long	464	21.5313 GBP
1p ordinary	CFD	Decreasing Long	502	21.5356 GBP
1p ordinary	SWAP	Decreasing Short	432	21.5126 GBP
1p ordinary	SWAP	Decreasing Short	847	21.5753 GBP
1p ordinary	SWAP	Decreasing Short	1,294	21.6722 GBP
1p ordinary	SWAP	Decreasing Short	3,977	21.5512 GBP
1p ordinary	SWAP	Decreasing Short	6,190	21.5599 GBP
1p ordinary	SWAP	Increasing Long	305	21.5197 GBP
1p ordinary	SWAP	Increasing Long	408	21.6024 GBP
1p ordinary	SWAP	Increasing Long	1,009	21.6078 GBP
1p ordinary	SWAP	Increasing Long	1,148	21.5103 GBP
1p ordinary	SWAP	Increasing Long	1,689	21.6103 GBP
1p ordinary	SWAP	Increasing Long	2,967	21.6105 GBP
1p ordinary	SWAP	Increasing Long	3,537	21.4198 GBP
1p ordinary	SWAP	Increasing Long	4,693	21.5804 GBP
1p ordinary	SWAP	Increasing Short	191	21.6375 GBP
1p ordinary	SWAP	Increasing Short	200	21.4803 GBP
1p ordinary	SWAP	Increasing Short	481	21.6223 GBP
1p ordinary	SWAP	Increasing Short	495	21.5482 GBP
1p ordinary	SWAP	Increasing Short	699	21.6534 GBP
1p ordinary	SWAP	Increasing Short	2,000	21.5154 GBP
1p ordinary	SWAP	Increasing Short	2,354	21.6423 GBP
1p ordinary	SWAP	Increasing Short	3,243	21.4200 GBP
1p ordinary	SWAP	Increasing Short	5,818	21.4210 GBP
1p ordinary	SWAP	Increasing Short	7,500	21.5413 GBP

(c)	Stock-settled derivative transactions (including options)
(i)	Writing, selling, purchasing or varying
Class of relevant security	Product description	Writing, purchasing, selling, varying etc	Number of securities to which option relates	Exercise price per unit	Type	Expiry date	Option money paid/ received per unit


(ii)	Exercising
Class of relevant security	Product description	Exercising/ exercised against	Number of securities	Exercise price per unit


(d)	Other dealings (including subscribing for new securities)
Class of relevant security	Nature of Dealings	Details	Price per unit (if applicable)

4.	OTHER INFORMATION
(a)	Indemnity and other dealings 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:
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 of future acquisition or disposal of any relevant securities to which any derivative is referenced:
NONE
(c)	Attachments
Is a Supplemental Form 8 (Open Positions) attached?				NO
Date of disclosure:				12 Jun 2024
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213