14th Feb 2025 15:03
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: | BNP Paribas SA |
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. | |
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Aviva plc |
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: | |
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure | 13/02/2025 |
(f) In addition to the company in 1(c) above, is the discloser 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 If YES, specify which: Direct Line Insurance Group plc |
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
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(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(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:
| GB00BPQY8M80 (32 17/19p ordinary) | |||
| Interests | Short positions | ||
| Number | % | Number | % |
(1) Relevant securities owned and/or controlled: | 19,914,649 | 0.7437 | -22,375,504 | -0.8356 |
(2) Cash-settled derivatives: | 5,571,144 | 0.2081 | -13,380,515 | -0.4997 |
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 586,000 | 0.0219 | +0 | +0.0000 |
TOTAL: | 26,071,793 | 0.9737 | -35,756,019 | -1.3354 |
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), 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 employee 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 PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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 | Purchase/sale
| Number of securities | Price per unit |
GB00BPQY8M80 | Purchase | 3 | 5.0977 GBP |
GB00BPQY8M80 | Purchase | 39 | 5.0909 GBP |
GB00BPQY8M80 | Purchase | 44 | 5.0840 GBP |
GB00BPQY8M80 | Purchase | 54 | 5.0641 GBP |
GB00BPQY8M80 | Purchase | 56 | 5.0920 GBP |
GB00BPQY8M80 | Purchase | 66 | 5.0845 GBP |
GB00BPQY8M80 | Purchase | 68 | 5.0949 GBP |
GB00BPQY8M80 | Purchase | 68 | 5.0959 GBP |
GB00BPQY8M80 | Purchase | 116 | 5.0587 GBP |
GB00BPQY8M80 | Purchase | 134 | 5.0788 GBP |
GB00BPQY8M80 | Purchase | 153 | 5.0792 GBP |
GB00BPQY8M80 | Purchase | 159 | 5.0863 GBP |
GB00BPQY8M80 | Purchase | 192 | 5.0999 GBP |
GB00BPQY8M80 | Purchase | 194 | 5.0645 GBP |
GB00BPQY8M80 | Purchase | 207 | 5.0888 GBP |
GB00BPQY8M80 | Purchase | 218 | 5.0675 GBP |
GB00BPQY8M80 | Purchase | 277 | 5.0920 GBP |
GB00BPQY8M80 | Purchase | 313 | 5.0726 GBP |
GB00BPQY8M80 | Purchase | 341 | 5.0567 GBP |
GB00BPQY8M80 | Purchase | 394 | 5.0738 GBP |
GB00BPQY8M80 | Purchase | 484 | 5.0789 GBP |
GB00BPQY8M80 | Purchase | 490 | 5.0919 GBP |
GB00BPQY8M80 | Purchase | 588 | 5.0843 GBP |
GB00BPQY8M80 | Purchase | 679 | 5.0934 GBP |
GB00BPQY8M80 | Purchase | 703 | 5.0657 GBP |
GB00BPQY8M80 | Purchase | 789 | 5.1002 GBP |
GB00BPQY8M80 | Purchase | 823 | 5.0877 GBP |
GB00BPQY8M80 | Purchase | 834 | 5.1008 GBP |
GB00BPQY8M80 | Purchase | 1,028 | 5.0561 GBP |
GB00BPQY8M80 | Purchase | 1,237 | 5.0603 GBP |
GB00BPQY8M80 | Purchase | 1,316 | 5.0927 GBP |
GB00BPQY8M80 | Purchase | 1,452 | 5.0697 GBP |
GB00BPQY8M80 | Purchase | 1,733 | 5.0799 GBP |
GB00BPQY8M80 | Purchase | 1,981 | 5.0812 GBP |
GB00BPQY8M80 | Purchase | 2,545 | 5.0786 GBP |
GB00BPQY8M80 | Purchase | 2,792 | 5.0862 GBP |
GB00BPQY8M80 | Purchase | 3,389 | 5.0923 GBP |
GB00BPQY8M80 | Purchase | 3,551 | 5.0888 GBP |
GB00BPQY8M80 | Purchase | 3,801 | 5.0831 GBP |
GB00BPQY8M80 | Purchase | 4,335 | 5.1020 GBP |
GB00BPQY8M80 | Purchase | 4,453 | 5.0897 GBP |
GB00BPQY8M80 | Purchase | 4,848 | 5.0921 GBP |
GB00BPQY8M80 | Purchase | 4,924 | 5.0880 GBP |
GB00BPQY8M80 | Purchase | 6,909 | 5.0885 GBP |
GB00BPQY8M80 | Purchase | 7,217 | 5.1050 GBP |
GB00BPQY8M80 | Purchase | 7,920 | 5.0899 GBP |
GB00BPQY8M80 | Purchase | 16,373 | 5.0899 GBP |
GB00BPQY8M80 | Purchase | 17,718 | 5.1040 GBP |
GB00BPQY8M80 | Purchase | 18,415 | 5.0981 GBP |
GB00BPQY8M80 | Purchase | 19,095 | 5.0914 GBP |
GB00BPQY8M80 | Purchase | 20,601 | 5.0899 GBP |
GB00BPQY8M80 | Purchase | 36,500 | 5.1040 GBP |
GB00BPQY8M80 | Purchase | 46,386 | 5.0899 GBP |
GB00BPQY8M80 | Purchase | 76,733 | 5.0825 GBP |
GB00BPQY8M80 | Purchase | 250,000 | 5.0917 GBP |
GB00BPQY8M80 | Purchase | 461,710 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -219,147 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -164,360 | 5.0678 GBP |
GB00BPQY8M80 | Sale | -164,360 | 5.0792 GBP |
GB00BPQY8M80 | Sale | -161,112 | 5.0952 GBP |
GB00BPQY8M80 | Sale | -109,573 | 5.0793 GBP |
GB00BPQY8M80 | Sale | -80,749 | 5.0899 GBP |
GB00BPQY8M80 | Sale | -61,947 | 5.0889 GBP |
GB00BPQY8M80 | Sale | -60,693 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -47,068 | 5.0917 GBP |
GB00BPQY8M80 | Sale | -29,422 | 5.0866 GBP |
GB00BPQY8M80 | Sale | -28,038 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -23,143 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -22,347 | 5.1032 GBP |
GB00BPQY8M80 | Sale | -20,109 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -19,204 | 5.0982 GBP |
GB00BPQY8M80 | Sale | -17,718 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -17,384 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -10,982 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -9,877 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -8,822 | 5.1032 GBP |
GB00BPQY8M80 | Sale | -7,250 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -5,626 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -4,924 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -4,848 | 5.0921 GBP |
GB00BPQY8M80 | Sale | -4,335 | 5.1020 GBP |
GB00BPQY8M80 | Sale | -3,613 | 5.0903 GBP |
GB00BPQY8M80 | Sale | -3,389 | 5.0923 GBP |
GB00BPQY8M80 | Sale | -2,792 | 5.0862 GBP |
GB00BPQY8M80 | Sale | -2,545 | 5.0786 GBP |
GB00BPQY8M80 | Sale | -2,445 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -1,981 | 5.0812 GBP |
GB00BPQY8M80 | Sale | -1,935 | 5.0892 GBP |
GB00BPQY8M80 | Sale | -1,898 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -1,878 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -1,786 | 5.0892 GBP |
GB00BPQY8M80 | Sale | -1,743 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -1,733 | 5.0799 GBP |
GB00BPQY8M80 | Sale | -1,684 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -1,684 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -1,544 | 5.0936 GBP |
GB00BPQY8M80 | Sale | -1,452 | 5.0697 GBP |
GB00BPQY8M80 | Sale | -1,392 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -1,380 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -1,372 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -1,316 | 5.0927 GBP |
GB00BPQY8M80 | Sale | -1,279 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -1,237 | 5.0603 GBP |
GB00BPQY8M80 | Sale | -1,034 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -1,028 | 5.0561 GBP |
GB00BPQY8M80 | Sale | -1,000 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -1,000 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -1,000 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -1,000 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -990 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -973 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -884 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -860 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -855 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -841 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -839 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -834 | 5.1008 GBP |
GB00BPQY8M80 | Sale | -832 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -832 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -823 | 5.0877 GBP |
GB00BPQY8M80 | Sale | -789 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -789 | 5.1002 GBP |
GB00BPQY8M80 | Sale | -740 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -703 | 5.0657 GBP |
GB00BPQY8M80 | Sale | -698 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -679 | 5.0934 GBP |
GB00BPQY8M80 | Sale | -644 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -608 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -600 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -600 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -600 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -588 | 5.0843 GBP |
GB00BPQY8M80 | Sale | -582 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -544 | 5.0632 GBP |
GB00BPQY8M80 | Sale | -511 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -510 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -510 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -508 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -490 | 5.0919 GBP |
GB00BPQY8M80 | Sale | -484 | 5.0789 GBP |
GB00BPQY8M80 | Sale | -460 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -450 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -404 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -394 | 5.0738 GBP |
GB00BPQY8M80 | Sale | -392 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -383 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -351 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -341 | 5.0567 GBP |
GB00BPQY8M80 | Sale | -332 | 5.0904 GBP |
GB00BPQY8M80 | Sale | -329 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -313 | 5.0726 GBP |
GB00BPQY8M80 | Sale | -295 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -279 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -277 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -263 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -252 | 5.0840 GBP |
GB00BPQY8M80 | Sale | -249 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -244 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -243 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -239 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -237 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -237 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -218 | 5.0675 GBP |
GB00BPQY8M80 | Sale | -214 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -207 | 5.0888 GBP |
GB00BPQY8M80 | Sale | -192 | 5.0999 GBP |
GB00BPQY8M80 | Sale | -159 | 5.0863 GBP |
GB00BPQY8M80 | Sale | -159 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -158 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -134 | 5.0788 GBP |
GB00BPQY8M80 | Sale | -116 | 5.0587 GBP |
GB00BPQY8M80 | Sale | -94 | 5.0880 GBP |
GB00BPQY8M80 | Sale | -88 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -80 | 5.0860 GBP |
GB00BPQY8M80 | Sale | -76 | 5.0898 GBP |
GB00BPQY8M80 | Sale | -68 | 5.0949 GBP |
GB00BPQY8M80 | Sale | -68 | 5.0959 GBP |
GB00BPQY8M80 | Sale | -66 | 5.0845 GBP |
GB00BPQY8M80 | Sale | -56 | 5.0920 GBP |
GB00BPQY8M80 | Sale | -54 | 5.0641 GBP |
GB00BPQY8M80 | Sale | -39 | 5.0909 GBP |
GB00BPQY8M80 | Sale | -35 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -11 | 5.1040 GBP |
GB00BPQY8M80 | Sale | -3 | 5.0977 GBP |
GB00BPQY8M80 | Sale | -3 | 5.0977 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 |
GB00BPQY8M80 | Contract for Difference | Opening Short Position | -461,710 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Opening Short Position | -10,302 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Closing Long Position | -31,358 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Increasing Short Position | -24,816 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Increasing Short Position | -9,713 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Increasing Short Position | -7,217 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Increasing Short Position | -7,356 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Reducing Short Position | 14,667 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Reducing Short Position | 8,822 | 5.1040 GBP |
GB00BPQY8M80 | Contract for Difference | Reducing Short Position | 22,347 | 5.1040 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 |
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|
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|
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(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) |
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4. 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 person 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 person 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
|
(c) Attachments
Is a Supplemental Form 8 (Open Positions) attached? | Yes |
| Date of disclosure: | 14/02/2025 |
| Contact name: | Compliance Control Room |
| Telephone number*: | 0207 595 9695 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.
*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS,
AGREEMENTS TO PURCHASE OR SELL ETC.
Note 5(i) on Rule 8 of the Takeover Code (the "Code")
1. | KEY INFORMATION |
Full name of person making disclosure:
| BNP Paribas SA |
Name of offeror/offeree in relation to whose relevant securities the disclosure relates: | Aviva plc |
2. | STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS) |
Class of relevant security | Product description e.g. call option | Written or purchased | Number of securities to which option or derivative relates | Exercise price per unit | Type e.g. American, European etc. | Expiry date |
32 17/19p ordinary (GB00BPQY8M80) | Put Option | W | 500000 | 5.104 | american | 18/12/2026 |
32 17/19p ordinary (GB00BPQY8M80) | Call Option | P | 86000 | 5.104 | american | 19/12/2025 |
3. | AGREEMENTS TO PURCHASE OR SELL ETC. |
Full details should be given so that the nature of the interest or position can be fully understood: |
|
It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives. |
The currency of all prices and other monetary amounts should be stated. |
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. |
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk |