Form 8.5 Mitchells & Butlers

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:	Nomura International Plc
	Mitchells & Butlers Plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Mitchells & Butlers Plc
(d) Date position held/dealing undertaken:	23 September 2011
(e) Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this 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:	8 13/24p ordinary shares
	Interests	Short positions
Number	%	Number	%
(1) Relevant securities owned and/or controlled:	202,516	0.049%	122,260	0.030%
(2) Derivatives (other than options):
(3) Options and agreements to purchase/sell:
TOTAL:	202,516	0.049%	122,260	0.030%

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(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:

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
Ordinary Shares	Purchase	1,310	2.450
Ordinary Shares	Purchase	327	2.452
Ordinary Shares	Purchase	2,140	2.456
Ordinary Shares	Purchase	3,117	2.458
Ordinary Shares	Purchase	2,354	2.460
Ordinary Shares	Purchase	377	2.464
Ordinary Shares	Purchase	2,698	2.467
Ordinary Shares	Purchase	862	2.469
Ordinary Shares	Purchase	2,049	2.473
Ordinary Shares	Purchase	1,817	2.476
Ordinary Shares	Purchase	1,256	2.482
Ordinary Shares	Purchase	29,402	2.482
Ordinary Shares	Purchase	2,451	2.486
Ordinary Shares	Purchase	358	2.487
Ordinary Shares	Purchase	1,991	2.488
Ordinary Shares	Purchase	7,322	2.490
Ordinary Shares	Purchase	6,822	2.491
Ordinary Shares	Purchase	484	2.493
Ordinary Shares	Purchase	2,212	2.494
Ordinary Shares	Purchase	1,664	2.495
Ordinary Shares	Purchase	3,061	2.496
Ordinary Shares	Purchase	1,430	2.497
Ordinary Shares	Purchase	4,070	2.498
Ordinary Shares	Purchase	2,658	2.500
Ordinary Shares	Purchase	10,825	2.501
Ordinary Shares	Purchase	3,029	2.502
Ordinary Shares	Purchase	3,458	2.503
Ordinary Shares	Purchase	1,599	2.504
Ordinary Shares	Purchase	2,005	2.506
Ordinary Shares	Purchase	476	2.507
Ordinary Shares	Purchase	610	2.508
Ordinary Shares	Purchase	2,642	2.509
Ordinary Shares	Purchase	13,789	2.511
Ordinary Shares	Purchase	1,765	2.512
Ordinary Shares	Purchase	25,420	2.516
Ordinary Shares	Sale	1,827	2.450
Ordinary Shares	Sale	2,673	2.451
Ordinary Shares	Sale	291	2.453
Ordinary Shares	Sale	1,254	2.455
Ordinary Shares	Sale	1,352	2.456
Ordinary Shares	Sale	1,829	2.457
Ordinary Shares	Sale	2,721	2.458
Ordinary Shares	Sale	1,197	2.460
Ordinary Shares	Sale	142	2.462
Ordinary Shares	Sale	149	2.467
Ordinary Shares	Sale	150	2.468
Ordinary Shares	Sale	3,198	2.472
Ordinary Shares	Sale	98	2.473
Ordinary Shares	Sale	1,244	2.486
Ordinary Shares	Sale	100	2.487
Ordinary Shares	Sale	3,072	2.488
Ordinary Shares	Sale	2,779	2.489
Ordinary Shares	Sale	14,995	2.490
Ordinary Shares	Sale	6,697	2.490
Ordinary Shares	Sale	1,777	2.491
Ordinary Shares	Sale	2,167	2.492
Ordinary Shares	Sale	1,138	2.493
Ordinary Shares	Sale	1,836	2.494
Ordinary Shares	Sale	1,431	2.495
Ordinary Shares	Sale	474	2.496
Ordinary Shares	Sale	195	2.497
Ordinary Shares	Sale	2,678	2.498
Ordinary Shares	Sale	4,016	2.499
Ordinary Shares	Sale	13,511	2.500
Ordinary Shares	Sale	3,781	2.501
Ordinary Shares	Sale	3,345	2.502
Ordinary Shares	Sale	897	2.503
Ordinary Shares	Sale	538	2.505
Ordinary Shares	Sale	4,175	2.507
Ordinary Shares	Sale	362	2.515
Ordinary Shares	Sale	1	2.516
Ordinary Shares	Sale	25,367	2.516
Ordinary Shares	Sale	53	2.519

TOTAL BUY - 147,850

TOTAL SELL -113,510

(b) Derivatives transactions (other than options)

Class of relevant security			Number of reference securities	Price per unit

(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		Expiry date	Option money paid/ received per unit

(ii) Exercising

Class of relevant security		Number of securities	Exercise price per unit

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

Class of relevant security		Details	Price per unit (if applicable)

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

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

None

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

None

Is a Supplemental Form 8 (Open Positions) attached?

	26 September 2011
	Kyere Tabiri
	020 7102 1267

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 [email protected]. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

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