9th Apr 2025 12:53
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 | 08/04/2025 |
(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: | 12,369,274 | 0.4619 | -22,044,555 | -0.8232 |
(2) Cash-settled derivatives: | 13,482,173 | 0.5034 | -6,900,613 | -0.2577 |
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 586,000 | 0.0219 | -36,000 | -0.0013 |
TOTAL: | 26,437,447 | 0.9872 | -28,981,168 | -1.0822 |
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 | 2 | 5.1369 GBP |
GB00BPQY8M80 | Purchase | 2 | 5.1533 GBP |
GB00BPQY8M80 | Purchase | 3 | 5.1800 GBP |
GB00BPQY8M80 | Purchase | 17 | 5.1718 GBP |
GB00BPQY8M80 | Purchase | 22 | 5.1477 GBP |
GB00BPQY8M80 | Purchase | 34 | 5.1762 GBP |
GB00BPQY8M80 | Purchase | 49 | 5.0360 GBP |
GB00BPQY8M80 | Purchase | 50 | 5.1500 GBP |
GB00BPQY8M80 | Purchase | 50 | 5.1750 GBP |
GB00BPQY8M80 | Purchase | 51 | 5.1480 GBP |
GB00BPQY8M80 | Purchase | 52 | 5.1480 GBP |
GB00BPQY8M80 | Purchase | 56 | 5.1976 GBP |
GB00BPQY8M80 | Purchase | 59 | 5.1751 GBP |
GB00BPQY8M80 | Purchase | 61 | 5.1480 GBP |
GB00BPQY8M80 | Purchase | 62 | 5.1571 GBP |
GB00BPQY8M80 | Purchase | 74 | 5.0720 GBP |
GB00BPQY8M80 | Purchase | 78 | 5.1480 GBP |
GB00BPQY8M80 | Purchase | 82 | 5.1896 GBP |
GB00BPQY8M80 | Purchase | 85 | 5.1400 GBP |
GB00BPQY8M80 | Purchase | 100 | 5.1819 GBP |
GB00BPQY8M80 | Purchase | 112 | 5.0440 GBP |
GB00BPQY8M80 | Purchase | 182 | 5.1752 GBP |
GB00BPQY8M80 | Purchase | 274 | 5.0480 GBP |
GB00BPQY8M80 | Purchase | 275 | 5.1832 GBP |
GB00BPQY8M80 | Purchase | 460 | 5.1605 GBP |
GB00BPQY8M80 | Purchase | 503 | 5.1504 GBP |
GB00BPQY8M80 | Purchase | 600 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 663 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 751 | 5.0580 GBP |
GB00BPQY8M80 | Purchase | 788 | 5.0660 GBP |
GB00BPQY8M80 | Purchase | 823 | 5.0480 GBP |
GB00BPQY8M80 | Purchase | 845 | 5.0616 GBP |
GB00BPQY8M80 | Purchase | 845 | 5.0820 GBP |
GB00BPQY8M80 | Purchase | 878 | 5.1480 GBP |
GB00BPQY8M80 | Purchase | 888 | 5.1404 GBP |
GB00BPQY8M80 | Purchase | 893 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 914 | 5.1722 GBP |
GB00BPQY8M80 | Purchase | 935 | 5.0440 GBP |
GB00BPQY8M80 | Purchase | 962 | 5.0360 GBP |
GB00BPQY8M80 | Purchase | 987 | 5.0760 GBP |
GB00BPQY8M80 | Purchase | 1,007 | 5.0780 GBP |
GB00BPQY8M80 | Purchase | 1,021 | 5.0760 GBP |
GB00BPQY8M80 | Purchase | 1,031 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 1,059 | 5.0620 GBP |
GB00BPQY8M80 | Purchase | 1,081 | 5.1499 GBP |
GB00BPQY8M80 | Purchase | 1,084 | 5.0820 GBP |
GB00BPQY8M80 | Purchase | 1,145 | 5.1374 GBP |
GB00BPQY8M80 | Purchase | 1,157 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 1,182 | 5.0500 GBP |
GB00BPQY8M80 | Purchase | 1,201 | 5.0800 GBP |
GB00BPQY8M80 | Purchase | 1,208 | 5.0680 GBP |
GB00BPQY8M80 | Purchase | 1,210 | 5.0360 GBP |
GB00BPQY8M80 | Purchase | 1,213 | 5.1585 GBP |
GB00BPQY8M80 | Purchase | 1,217 | 5.0320 GBP |
GB00BPQY8M80 | Purchase | 1,228 | 5.0800 GBP |
GB00BPQY8M80 | Purchase | 1,264 | 5.0740 GBP |
GB00BPQY8M80 | Purchase | 1,266 | 5.0740 GBP |
GB00BPQY8M80 | Purchase | 1,266 | 5.1972 GBP |
GB00BPQY8M80 | Purchase | 1,276 | 5.0720 GBP |
GB00BPQY8M80 | Purchase | 1,279 | 5.0380 GBP |
GB00BPQY8M80 | Purchase | 1,279 | 5.1499 GBP |
GB00BPQY8M80 | Purchase | 1,302 | 5.0700 GBP |
GB00BPQY8M80 | Purchase | 1,315 | 5.0760 GBP |
GB00BPQY8M80 | Purchase | 1,381 | 5.0380 GBP |
GB00BPQY8M80 | Purchase | 1,383 | 5.0800 GBP |
GB00BPQY8M80 | Purchase | 1,440 | 5.0660 GBP |
GB00BPQY8M80 | Purchase | 1,460 | 5.0760 GBP |
GB00BPQY8M80 | Purchase | 1,483 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 1,493 | 5.0660 GBP |
GB00BPQY8M80 | Purchase | 1,530 | 5.0540 GBP |
GB00BPQY8M80 | Purchase | 1,736 | 5.1793 GBP |
GB00BPQY8M80 | Purchase | 1,778 | 5.1894 GBP |
GB00BPQY8M80 | Purchase | 1,806 | 5.1894 GBP |
GB00BPQY8M80 | Purchase | 1,876 | 5.0380 GBP |
GB00BPQY8M80 | Purchase | 1,958 | 5.0660 GBP |
GB00BPQY8M80 | Purchase | 2,116 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 2,195 | 5.0820 GBP |
GB00BPQY8M80 | Purchase | 2,323 | 5.0820 GBP |
GB00BPQY8M80 | Purchase | 2,334 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 2,335 | 5.0710 GBP |
GB00BPQY8M80 | Purchase | 2,357 | 5.0420 GBP |
GB00BPQY8M80 | Purchase | 2,396 | 5.0780 GBP |
GB00BPQY8M80 | Purchase | 2,421 | 5.0820 GBP |
GB00BPQY8M80 | Purchase | 2,609 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 2,611 | 5.0800 GBP |
GB00BPQY8M80 | Purchase | 2,669 | 5.0540 GBP |
GB00BPQY8M80 | Purchase | 2,672 | 5.1583 GBP |
GB00BPQY8M80 | Purchase | 2,806 | 5.0780 GBP |
GB00BPQY8M80 | Purchase | 2,899 | 5.1462 GBP |
GB00BPQY8M80 | Purchase | 2,901 | 5.1623 GBP |
GB00BPQY8M80 | Purchase | 3,093 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 3,123 | 5.0360 GBP |
GB00BPQY8M80 | Purchase | 3,160 | 5.1583 GBP |
GB00BPQY8M80 | Purchase | 3,228 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 3,268 | 5.1972 GBP |
GB00BPQY8M80 | Purchase | 3,281 | 5.0480 GBP |
GB00BPQY8M80 | Purchase | 3,317 | 5.0730 GBP |
GB00BPQY8M80 | Purchase | 3,408 | 5.0320 GBP |
GB00BPQY8M80 | Purchase | 3,728 | 5.0780 GBP |
GB00BPQY8M80 | Purchase | 3,786 | 5.1499 GBP |
GB00BPQY8M80 | Purchase | 3,870 | 5.1894 GBP |
GB00BPQY8M80 | Purchase | 3,938 | 5.0761 GBP |
GB00BPQY8M80 | Purchase | 3,950 | 5.1797 GBP |
GB00BPQY8M80 | Purchase | 3,997 | 5.0800 GBP |
GB00BPQY8M80 | Purchase | 4,039 | 5.0580 GBP |
GB00BPQY8M80 | Purchase | 4,046 | 5.1972 GBP |
GB00BPQY8M80 | Purchase | 4,065 | 5.0816 GBP |
GB00BPQY8M80 | Purchase | 4,298 | 5.0350 GBP |
GB00BPQY8M80 | Purchase | 4,298 | 5.0380 GBP |
GB00BPQY8M80 | Purchase | 4,521 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 4,565 | 5.0600 GBP |
GB00BPQY8M80 | Purchase | 4,597 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 4,677 | 5.1797 GBP |
GB00BPQY8M80 | Purchase | 4,708 | 5.0600 GBP |
GB00BPQY8M80 | Purchase | 4,888 | 5.0560 GBP |
GB00BPQY8M80 | Purchase | 4,985 | 5.0860 GBP |
GB00BPQY8M80 | Purchase | 5,072 | 5.0580 GBP |
GB00BPQY8M80 | Purchase | 5,084 | 5.1846 GBP |
GB00BPQY8M80 | Purchase | 5,119 | 5.0670 GBP |
GB00BPQY8M80 | Purchase | 5,222 | 5.1220 GBP |
GB00BPQY8M80 | Purchase | 5,285 | 5.0380 GBP |
GB00BPQY8M80 | Purchase | 5,300 | 5.0580 GBP |
GB00BPQY8M80 | Purchase | 5,420 | 5.0640 GBP |
GB00BPQY8M80 | Purchase | 5,678 | 5.0390 GBP |
GB00BPQY8M80 | Purchase | 5,812 | 5.0450 GBP |
GB00BPQY8M80 | Purchase | 6,159 | 5.0670 GBP |
GB00BPQY8M80 | Purchase | 7,077 | 5.1741 GBP |
GB00BPQY8M80 | Purchase | 7,362 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 7,487 | 5.1340 GBP |
GB00BPQY8M80 | Purchase | 7,592 | 5.1597 GBP |
GB00BPQY8M80 | Purchase | 8,013 | 5.1674 GBP |
GB00BPQY8M80 | Purchase | 9,361 | 5.1583 GBP |
GB00BPQY8M80 | Purchase | 9,684 | 5.0400 GBP |
GB00BPQY8M80 | Purchase | 9,690 | 5.1972 GBP |
GB00BPQY8M80 | Purchase | 10,099 | 5.0607 GBP |
GB00BPQY8M80 | Purchase | 10,167 | 5.1320 GBP |
GB00BPQY8M80 | Purchase | 11,064 | 5.1280 GBP |
GB00BPQY8M80 | Purchase | 11,289 | 5.1841 GBP |
GB00BPQY8M80 | Purchase | 11,902 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 12,243 | 5.1240 GBP |
GB00BPQY8M80 | Purchase | 12,598 | 5.0603 GBP |
GB00BPQY8M80 | Purchase | 12,739 | 5.1603 GBP |
GB00BPQY8M80 | Purchase | 13,401 | 5.1841 GBP |
GB00BPQY8M80 | Purchase | 13,568 | 5.1260 GBP |
GB00BPQY8M80 | Purchase | 13,830 | 5.1797 GBP |
GB00BPQY8M80 | Purchase | 14,730 | 5.1910 GBP |
GB00BPQY8M80 | Purchase | 15,156 | 5.1624 GBP |
GB00BPQY8M80 | Purchase | 15,202 | 5.1582 GBP |
GB00BPQY8M80 | Purchase | 16,067 | 5.1300 GBP |
GB00BPQY8M80 | Purchase | 17,653 | 5.1517 GBP |
GB00BPQY8M80 | Purchase | 18,196 | 5.1894 GBP |
GB00BPQY8M80 | Purchase | 18,717 | 5.1730 GBP |
GB00BPQY8M80 | Purchase | 24,491 | 5.1360 GBP |
GB00BPQY8M80 | Purchase | 25,780 | 5.0340 GBP |
GB00BPQY8M80 | Purchase | 26,172 | 5.0717 GBP |
GB00BPQY8M80 | Purchase | 26,217 | 5.1604 GBP |
GB00BPQY8M80 | Purchase | 28,273 | 5.1604 GBP |
GB00BPQY8M80 | Purchase | 28,885 | 5.1310 GBP |
GB00BPQY8M80 | Purchase | 29,417 | 5.0420 GBP |
GB00BPQY8M80 | Purchase | 31,049 | 5.1604 GBP |
GB00BPQY8M80 | Purchase | 34,881 | 5.1575 GBP |
GB00BPQY8M80 | Purchase | 35,007 | 5.0605 GBP |
GB00BPQY8M80 | Purchase | 39,659 | 5.1841 GBP |
GB00BPQY8M80 | Purchase | 40,664 | 5.1729 GBP |
GB00BPQY8M80 | Purchase | 48,130 | 5.1729 GBP |
GB00BPQY8M80 | Purchase | 48,442 | 5.0341 GBP |
GB00BPQY8M80 | Purchase | 49,861 | 5.0605 GBP |
GB00BPQY8M80 | Purchase | 60,613 | 5.1380 GBP |
GB00BPQY8M80 | Purchase | 89,078 | 5.1400 GBP |
GB00BPQY8M80 | Purchase | 92,283 | 5.1603 GBP |
GB00BPQY8M80 | Purchase | 137,219 | 5.1580 GBP |
GB00BPQY8M80 | Purchase | 142,707 | 5.1729 GBP |
GB00BPQY8M80 | Purchase | 184,240 | 5.1729 GBP |
GB00BPQY8M80 | Sale | -164,092 | 5.0760 GBP |
GB00BPQY8M80 | Sale | -61,203 | 5.1003 GBP |
GB00BPQY8M80 | Sale | -52,407 | 5.1016 GBP |
GB00BPQY8M80 | Sale | -50,000 | 5.0340 GBP |
GB00BPQY8M80 | Sale | -41,021 | 5.0858 GBP |
GB00BPQY8M80 | Sale | -34,044 | 5.1580 GBP |
GB00BPQY8M80 | Sale | -26,808 | 5.1674 GBP |
GB00BPQY8M80 | Sale | -11,902 | 5.1580 GBP |
GB00BPQY8M80 | Sale | -10,588 | 5.1365 GBP |
GB00BPQY8M80 | Sale | -7,362 | 5.1580 GBP |
GB00BPQY8M80 | Sale | -5,726 | 5.0991 GBP |
GB00BPQY8M80 | Sale | -5,143 | 5.1443 GBP |
GB00BPQY8M80 | Sale | -4,026 | 5.1740 GBP |
GB00BPQY8M80 | Sale | -2,676 | 5.0805 GBP |
GB00BPQY8M80 | Sale | -2,455 | 5.1580 GBP |
GB00BPQY8M80 | Sale | -2,186 | 5.0449 GBP |
GB00BPQY8M80 | Sale | -1,530 | 5.1353 GBP |
GB00BPQY8M80 | Sale | -1,329 | 5.1433 GBP |
GB00BPQY8M80 | Sale | -1,262 | 5.0666 GBP |
GB00BPQY8M80 | Sale | -1,258 | 5.0726 GBP |
GB00BPQY8M80 | Sale | -751 | 5.0580 GBP |
GB00BPQY8M80 | Sale | -696 | 5.1580 GBP |
GB00BPQY8M80 | Sale | -630 | 5.0900 GBP |
GB00BPQY8M80 | Sale | -600 | 5.1580 GBP |
GB00BPQY8M80 | Sale | -141 | 5.0380 GBP |
GB00BPQY8M80 | Sale | -4 | 5.1940 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 | Increasing Short Position | -757,146 | 5.1580 |
GB00BPQY8M80 | Contract for Difference | Increasing Short Position | -1,274
| 5.1580 |
GB00BPQY8M80 | Contract for Difference | Reducing Short Position | 64,721 | 5.1580 |
GB00BPQY8M80 | Contract for Difference | Reducing Short Position | 2,164 | 5.1580 GBP |
GB00BPQY8M80 | Contract for Difference | Reducing Short Position | 22 | 5.1580 |
(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) |
|
|
|
|
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: | 09/04/2025 |
| 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) | Call Option | P | 86000 | 5.158 | american | 19/12/2025 |
32 17/19p ordinary (GB00BPQY8M80) | Put Option | W | 500000 | 5.158 | american | 18/12/2026 |
32 17/19p ordinary (GB00BPQY8M80) | Put Option | P | -36000 | 5.158 | american | 20/03/2026 |
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 |
Related Shares:
Aviva