3rd Mar 2025 09:42
FORM 8.5 (EPT/RI)
PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Name of exempt principal trader: | Morgan Stanley & Co. International plc |
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Aviva plc |
(c) Name of the party to the offer with which exempt principal trader is connected: | Direct Line Insurance Group plc |
(d) Date dealing undertaken: | 28 February 2025 |
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer? If it is a cash offer or possible cash offer, state "N/A" | YES - Direct Line Insurance Group plc |
2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(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 | Purchases/ sales
| Total number of securities | Highest price per unit paid/received | Lowest price per unit paid/received |
32 17/19p ordinary | PURCHASES | 4,697,170 | 5.4730 GBP | 5.3820 GBP |
32 17/19p ordinary | SALES | 6,626,488 | 5.4740 GBP | 5.3800 GBP |
32 17/19p ordinary | SALES | 171,231 | 6.5872 EUR | 6.5872 EUR |
32 17/19p ordinary | SALES | 860 | 6.8838 USD | 6.8838 USD |
(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 |
32 17/19p ordinary | CFD | increasing a long position | 7 | 5.4186 GBP |
32 17/19p ordinary | CFD | increasing a long position | 100 | 5.4327 GBP |
32 17/19p ordinary | CFD | increasing a long position | 34,584 | 5.4395 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,096 | 5.4408 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,820 | 5.4416 GBP |
32 17/19p ordinary | CFD | increasing a long position | 600 | 5.4430 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,145 | 5.4440 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,010 | 5.4440 GBP |
32 17/19p ordinary | CFD | increasing a long position | 21,343 | 5.4440 GBP |
32 17/19p ordinary | CFD | increasing a long position | 934 | 5.4447 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,130 | 5.4450 GBP |
32 17/19p ordinary | CFD | increasing a long position | 171,231 | 5.4457 GBP |
32 17/19p ordinary | CFD | increasing a long position | 21,604 | 5.4459 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,881 | 5.4460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,382 | 5.4488 GBP |
32 17/19p ordinary | CFD | increasing a long position | 14 | 5.4490 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,177 | 5.4566 GBP |
32 17/19p ordinary | CFD | increasing a short position | 709 | 5.4130 GBP |
32 17/19p ordinary | CFD | increasing a short position | 119,079 | 5.4416 GBP |
32 17/19p ordinary | CFD | increasing a short position | 5,859 | 5.4418 GBP |
32 17/19p ordinary | CFD | increasing a short position | 24 | 5.4420 GBP |
32 17/19p ordinary | CFD | increasing a short position | 5,959 | 5.4439 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,240 | 5.4440 GBP |
32 17/19p ordinary | CFD | increasing a short position | 13,019 | 5.4441 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,064 | 5.4444 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,612 | 5.4447 GBP |
32 17/19p ordinary | CFD | increasing a short position | 101,552 | 5.4450 GBP |
32 17/19p ordinary | CFD | increasing a short position | 57 | 5.4460 GBP |
32 17/19p ordinary | CFD | increasing a short position | 21,955 | 5.4471 GBP |
32 17/19p ordinary | CFD | increasing a short position | 39,011 | 5.4488 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,828 | 5.4503 GBP |
32 17/19p ordinary | CFD | increasing a short position | 9,891 | 5.4521 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,789 | 5.4568 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,767 | 5.4568 GBP |
32 17/19p ordinary | CFD | reducing a long position | 143,350 | 5.4201 GBP |
32 17/19p ordinary | CFD | reducing a long position | 28,082 | 5.4309 GBP |
32 17/19p ordinary | CFD | reducing a long position | 254 | 5.4320 GBP |
32 17/19p ordinary | CFD | reducing a long position | 774 | 5.4320 GBP |
32 17/19p ordinary | CFD | reducing a long position | 24,106 | 5.4378 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,353 | 5.4408 GBP |
32 17/19p ordinary | CFD | reducing a long position | 43,786 | 5.4408 GBP |
32 17/19p ordinary | CFD | reducing a long position | 16,155 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a long position | 8 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a long position | 90 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a long position | 21,343 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,637 | 5.4483 GBP |
32 17/19p ordinary | CFD | reducing a long position | 42,594 | 5.4544 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,607 | 5.3934 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8,271 | 5.3989 GBP |
32 17/19p ordinary | CFD | reducing a short position | 128,620 | 5.4021 GBP |
32 17/19p ordinary | CFD | reducing a short position | 709 | 5.4100 GBP |
32 17/19p ordinary | CFD | reducing a short position | 100 | 5.4196 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,400 | 5.4247 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,961 | 5.4320 GBP |
32 17/19p ordinary | CFD | reducing a short position | 35,297 | 5.4386 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,673 | 5.4403 GBP |
32 17/19p ordinary | CFD | reducing a short position | 84,645 | 5.4412 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,952 | 5.4412 GBP |
32 17/19p ordinary | CFD | reducing a short position | 145 | 5.4421 GBP |
32 17/19p ordinary | CFD | reducing a short position | 97 | 5.4421 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,043 | 5.4421 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9 | 5.4423 GBP |
32 17/19p ordinary | CFD | reducing a short position | 274,220 | 5.4426 GBP |
32 17/19p ordinary | CFD | reducing a short position | 86,731 | 5.4429 GBP |
32 17/19p ordinary | CFD | reducing a short position | 205,200 | 5.4429 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,252 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 74,800 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,002 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 500 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 586 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,600 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 238,100 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,840 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 300 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 76,700 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,100 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,600 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 31,400 | 5.4430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 171 | 5.4432 GBP |
32 17/19p ordinary | CFD | reducing a short position | 600 | 5.4436 GBP |
32 17/19p ordinary | CFD | reducing a short position | 264 | 5.4436 GBP |
32 17/19p ordinary | CFD | reducing a short position | 181,665 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 11,615 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 51,106 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 21,591 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,142 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,223 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,596 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 172,720 | 5.4440 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,196 | 5.4447 GBP |
32 17/19p ordinary | CFD | reducing a short position | 101,552 | 5.4459 GBP |
32 17/19p ordinary | CFD | reducing a short position | 54,465 | 5.4470 GBP |
32 17/19p ordinary | CFD | reducing a short position | 18,562 | 5.4488 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,182 | 5.4490 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,700 | 5.4533 GBP |
32 17/19p ordinary | CFD | reducing a short position | 393,548 | 5.4536 GBP |
32 17/19p ordinary | CFD | reducing a short position | 38,965 | 5.4541 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,023 | 5.4548 GBP |
32 17/19p ordinary | CFD | reducing a short position | 860 | 5.4560 GBP |
32 17/19p ordinary | CFD | reducing a short position | 15,020 | 5.4607 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,530 | 5.4629 GBP |
32 17/19p ordinary | CFD | reducing a short position | 39,011 | 5.4655 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,240 | 5.4673 GBP |
32 17/19p ordinary | CFD | reducing a short position | 68 | 5.4690 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 |
N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
N/A | N/A | N/A | N/A | N/A |
(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) |
N/A | N/A | N/A | N/A |
3. 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 exempt principal trader 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 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 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
|
| Date of disclosure: | 03 March 2025 |
| Contact name: | Craig Horsley |
| Telephone number: | +44 141 245-7736 |
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 dealing 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