18th Jun 2025 08:33
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: | 17 June 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 | 4,624,082 | 6.0800 GBP | 5.9923 GBP |
32 17/19p ordinary | SALES | 3,758,378 | 6.0800 GBP | 5.9925 GBP |
32 17/19p ordinary | PURCHASES | 9,039 | 7.0870 EUR | 7.0870 EUR |
(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 | 78 | 6.0179 GBP |
32 17/19p ordinary | CFD | increasing a long position | 123 | 6.0179 GBP |
32 17/19p ordinary | CFD | increasing a long position | 27,128 | 6.0423 GBP |
32 17/19p ordinary | CFD | increasing a long position | 400 | 6.0455 GBP |
32 17/19p ordinary | CFD | increasing a long position | 134,347 | 6.0456 GBP |
32 17/19p ordinary | CFD | increasing a long position | 585 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,471 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 167 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 606 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 46,924 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 19,528 | 6.0472 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,101 | 6.0475 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,977 | 6.0482 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,483 | 6.0484 GBP |
32 17/19p ordinary | CFD | increasing a long position | 786 | 6.0496 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,420 | 6.0496 GBP |
32 17/19p ordinary | CFD | increasing a long position | 76,346 | 6.0507 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,543 | 6.0517 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,168 | 6.0528 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,068 | 6.0528 GBP |
32 17/19p ordinary | CFD | increasing a long position | 305 | 6.0531 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,710 | 6.0537 GBP |
32 17/19p ordinary | CFD | increasing a long position | 652 | 6.0539 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,060 | 6.0552 GBP |
32 17/19p ordinary | CFD | increasing a long position | 55,040 | 6.0564 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,041 | 6.0570 GBP |
32 17/19p ordinary | CFD | increasing a long position | 240 | 6.0750 GBP |
32 17/19p ordinary | CFD | increasing a short position | 150 | 6.0289 GBP |
32 17/19p ordinary | CFD | increasing a short position | 804 | 6.0455 GBP |
32 17/19p ordinary | CFD | increasing a short position | 469 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a short position | 40,024 | 6.0460 GBP |
32 17/19p ordinary | CFD | increasing a short position | 97,378 | 6.0507 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,970 | 6.0508 GBP |
32 17/19p ordinary | CFD | increasing a short position | 36 | 6.0511 GBP |
32 17/19p ordinary | CFD | increasing a short position | 621,241 | 6.0514 GBP |
32 17/19p ordinary | CFD | increasing a short position | 10 | 6.0519 GBP |
32 17/19p ordinary | CFD | increasing a short position | 86 | 6.0519 GBP |
32 17/19p ordinary | CFD | increasing a short position | 68 | 6.0519 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,499 | 6.0519 GBP |
32 17/19p ordinary | CFD | increasing a short position | 51,034 | 6.0523 GBP |
32 17/19p ordinary | CFD | increasing a short position | 183,212 | 6.0525 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,838 | 6.0540 GBP |
32 17/19p ordinary | CFD | increasing a short position | 170 | 6.0553 GBP |
32 17/19p ordinary | CFD | increasing a short position | 20,361 | 6.0607 GBP |
32 17/19p ordinary | CFD | increasing a short position | 40,700 | 6.0611 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,200 | 6.0618 GBP |
32 17/19p ordinary | CFD | increasing a short position | 16 | 6.0644 GBP |
32 17/19p ordinary | CFD | increasing a short position | 240 | 6.0750 GBP |
32 17/19p ordinary | CFD | reducing a long position | 47,305 | 6.0028 GBP |
32 17/19p ordinary | CFD | reducing a long position | 961 | 6.0427 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,643 | 6.0442 GBP |
32 17/19p ordinary | CFD | reducing a long position | 25,703 | 6.0442 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,066 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,757 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 170 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 124 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 12 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 11,025 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 100 | 6.0465 GBP |
32 17/19p ordinary | CFD | reducing a long position | 59 | 6.0468 GBP |
32 17/19p ordinary | CFD | reducing a long position | 112 | 6.0469 GBP |
32 17/19p ordinary | CFD | reducing a long position | 193 | 6.0469 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,417 | 6.0469 GBP |
32 17/19p ordinary | CFD | reducing a long position | 28 | 6.0471 GBP |
32 17/19p ordinary | CFD | reducing a long position | 8,000 | 6.0472 GBP |
32 17/19p ordinary | CFD | reducing a long position | 9,039 | 6.0473 GBP |
32 17/19p ordinary | CFD | reducing a long position | 25,619 | 6.0475 GBP |
32 17/19p ordinary | CFD | reducing a long position | 143 | 6.0485 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,364 | 6.0487 GBP |
32 17/19p ordinary | CFD | reducing a long position | 398,700 | 6.0498 GBP |
32 17/19p ordinary | CFD | reducing a long position | 23,885 | 6.0508 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,274 | 6.0515 GBP |
32 17/19p ordinary | CFD | reducing a long position | 51,633 | 6.0515 GBP |
32 17/19p ordinary | CFD | reducing a long position | 108,669 | 6.0566 GBP |
32 17/19p ordinary | CFD | reducing a long position | 24,402 | 6.0591 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1 | 6.0640 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,489 | 6.0116 GBP |
32 17/19p ordinary | CFD | reducing a short position | 134,853 | 6.0182 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4 | 6.0260 GBP |
32 17/19p ordinary | CFD | reducing a short position | 469 | 6.0380 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,563 | 6.0423 GBP |
32 17/19p ordinary | CFD | reducing a short position | 87,854 | 6.0423 GBP |
32 17/19p ordinary | CFD | reducing a short position | 92 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a short position | 134,530 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a short position | 155 | 6.0460 GBP |
32 17/19p ordinary | CFD | reducing a short position | 33,799 | 6.0463 GBP |
32 17/19p ordinary | CFD | reducing a short position | 16,559 | 6.0473 GBP |
32 17/19p ordinary | CFD | reducing a short position | 75,937 | 6.0480 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,400 | 6.0489 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,900 | 6.0490 GBP |
32 17/19p ordinary | CFD | reducing a short position | 212 | 6.0498 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,586 | 6.0530 GBP |
32 17/19p ordinary | CFD | reducing a short position | 41,174 | 6.0530 GBP |
32 17/19p ordinary | CFD | reducing a short position | 60,349 | 6.0530 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8,936 | 6.0530 GBP |
32 17/19p ordinary | CFD | reducing a short position | 150 | 6.0531 GBP |
32 17/19p ordinary | CFD | reducing a short position | 129 | 6.0540 GBP |
32 17/19p ordinary | CFD | reducing a short position | 6,346 | 6.0544 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: | 18 June 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