8.6 DISCLOSURE BY EXEMPT FUND MANAGERS WITH NO INTERESTS IN SECURITIES OF ANY PARTY TO THE OFFER REPRESENTING 1% OR MORE DEALING FOR DISCRETIONARY CLIENTS

(a) An exempt fund manager connected with a party to the offer must make a private Dealing Disclosure if it deals in any relevant securities of the Target or any securities exchange Bidder for the benefit of discretionary investment clients during an offer period.
(b) Paragraph 8.6(a) does not apply if the exempt fund manager is also required to make a disclosure in accordance with Paragraph 8.3.