10th Mar 2025 08:59
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: | 07 March 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 | 2,324,310 | 5.3660 GBP | 5.3012 GBP |
32 17/19p ordinary | SALES | 3,060,314 | 5.3660 GBP | 5.3000 GBP |
32 17/19p ordinary | PURCHASES | 251,610 | 6.3720 EUR | 6.3717 EUR |
32 17/19p ordinary | SALES | 5,489 | 6.9154 USD | 6.9154 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 | 17 | 5.3240 GBP |
32 17/19p ordinary | CFD | increasing a long position | 80 | 5.3240 GBP |
32 17/19p ordinary | CFD | increasing a long position | 14 | 5.3240 GBP |
32 17/19p ordinary | CFD | increasing a long position | 106 | 5.3240 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,379 | 5.3296 GBP |
32 17/19p ordinary | CFD | increasing a long position | 418 | 5.3302 GBP |
32 17/19p ordinary | CFD | increasing a long position | 470 | 5.3351 GBP |
32 17/19p ordinary | CFD | increasing a long position | 52,002 | 5.3405 GBP |
32 17/19p ordinary | CFD | increasing a long position | 770 | 5.3418 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,377 | 5.3422 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,389 | 5.3422 GBP |
32 17/19p ordinary | CFD | increasing a long position | 387 | 5.3422 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,189 | 5.3487 GBP |
32 17/19p ordinary | CFD | increasing a long position | 40,227 | 5.3493 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,084 | 5.3535 GBP |
32 17/19p ordinary | CFD | increasing a long position | 159 | 5.3536 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,699 | 5.3539 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,344 | 5.3545 GBP |
32 17/19p ordinary | CFD | increasing a long position | 22,800 | 5.3564 GBP |
32 17/19p ordinary | CFD | increasing a long position | 19,700 | 5.3564 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,800 | 5.3564 GBP |
32 17/19p ordinary | CFD | increasing a long position | 31,600 | 5.3564 GBP |
32 17/19p ordinary | CFD | increasing a long position | 102,894 | 5.3564 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,005 | 5.3564 GBP |
32 17/19p ordinary | CFD | increasing a long position | 225 | 5.3576 GBP |
32 17/19p ordinary | CFD | increasing a long position | 230 | 5.3580 GBP |
32 17/19p ordinary | CFD | increasing a short position | 831 | 5.3012 GBP |
32 17/19p ordinary | CFD | increasing a short position | 722 | 5.3240 GBP |
32 17/19p ordinary | CFD | increasing a short position | 9,343 | 5.3246 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,424 | 5.3312 GBP |
32 17/19p ordinary | CFD | increasing a short position | 159 | 5.3360 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,757 | 5.3364 GBP |
32 17/19p ordinary | CFD | increasing a short position | 58,764 | 5.3421 GBP |
32 17/19p ordinary | CFD | increasing a short position | 36,746 | 5.3454 GBP |
32 17/19p ordinary | CFD | increasing a short position | 12,092 | 5.3454 GBP |
32 17/19p ordinary | CFD | increasing a short position | 49,167 | 5.3492 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,913 | 5.3500 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,887 | 5.3508 GBP |
32 17/19p ordinary | CFD | increasing a short position | 60,829 | 5.3520 GBP |
32 17/19p ordinary | CFD | increasing a short position | 35,841 | 5.3540 GBP |
32 17/19p ordinary | CFD | increasing a short position | 224 | 5.3540 GBP |
32 17/19p ordinary | CFD | increasing a short position | 613 | 5.3540 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,068 | 5.3540 GBP |
32 17/19p ordinary | CFD | increasing a short position | 40,533 | 5.3542 GBP |
32 17/19p ordinary | CFD | increasing a short position | 103,230 | 5.3542 GBP |
32 17/19p ordinary | CFD | increasing a short position | 83,155 | 5.3546 GBP |
32 17/19p ordinary | CFD | increasing a short position | 18,633 | 5.3555 GBP |
32 17/19p ordinary | CFD | increasing a short position | 8,293 | 5.3555 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,202 | 5.3557 GBP |
32 17/19p ordinary | CFD | reducing a long position | 613 | 5.3012 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,379 | 5.3059 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,921 | 5.3124 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,971 | 5.3246 GBP |
32 17/19p ordinary | CFD | reducing a long position | 157 | 5.3247 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,434 | 5.3305 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,954 | 5.3320 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,633 | 5.3358 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,874 | 5.3358 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,736 | 5.3421 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,554 | 5.3487 GBP |
32 17/19p ordinary | CFD | reducing a long position | 132,594 | 5.3509 GBP |
32 17/19p ordinary | CFD | reducing a long position | 888 | 5.3517 GBP |
32 17/19p ordinary | CFD | reducing a long position | 40,227 | 5.3535 GBP |
32 17/19p ordinary | CFD | reducing a long position | 103,230 | 5.3539 GBP |
32 17/19p ordinary | CFD | reducing a long position | 45,150 | 5.3542 GBP |
32 17/19p ordinary | CFD | reducing a long position | 11,351 | 5.3542 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,689 | 5.3551 GBP |
32 17/19p ordinary | CFD | reducing a long position | 9,036 | 5.3553 GBP |
32 17/19p ordinary | CFD | reducing a short position | 22,900 | 5.3202 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,100 | 5.3300 GBP |
32 17/19p ordinary | CFD | reducing a short position | 428 | 5.3318 GBP |
32 17/19p ordinary | CFD | reducing a short position | 50 | 5.3318 GBP |
32 17/19p ordinary | CFD | reducing a short position | 58,764 | 5.3405 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,528 | 5.3413 GBP |
32 17/19p ordinary | CFD | reducing a short position | 63 | 5.3438 GBP |
32 17/19p ordinary | CFD | reducing a short position | 6 | 5.3438 GBP |
32 17/19p ordinary | CFD | reducing a short position | 74 | 5.3438 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,956 | 5.3438 GBP |
32 17/19p ordinary | CFD | reducing a short position | 102,900 | 5.3469 GBP |
32 17/19p ordinary | CFD | reducing a short position | 68,400 | 5.3475 GBP |
32 17/19p ordinary | CFD | reducing a short position | 79,000 | 5.3475 GBP |
32 17/19p ordinary | CFD | reducing a short position | 236,500 | 5.3475 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,400 | 5.3475 GBP |
32 17/19p ordinary | CFD | reducing a short position | 800 | 5.3475 GBP |
32 17/19p ordinary | CFD | reducing a short position | 31,800 | 5.3475 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,800 | 5.3475 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,302 | 5.3484 GBP |
32 17/19p ordinary | CFD | reducing a short position | 11,025 | 5.3493 GBP |
32 17/19p ordinary | CFD | reducing a short position | 564 | 5.3503 GBP |
32 17/19p ordinary | CFD | reducing a short position | 53,473 | 5.3504 GBP |
32 17/19p ordinary | CFD | reducing a short position | 36,000 | 5.3526 GBP |
32 17/19p ordinary | CFD | reducing a short position | 19 | 5.3528 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,490 | 5.3528 GBP |
32 17/19p ordinary | CFD | reducing a short position | 14 | 5.3536 GBP |
32 17/19p ordinary | CFD | reducing a short position | 316,172 | 5.3537 GBP |
32 17/19p ordinary | CFD | reducing a short position | 831 | 5.3539 GBP |
32 17/19p ordinary | CFD | reducing a short position | 12,036 | 5.3540 GBP |
32 17/19p ordinary | CFD | reducing a short position | 251 | 5.3540 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,899 | 5.3540 GBP |
32 17/19p ordinary | CFD | reducing a short position | 70,875 | 5.3541 GBP |
32 17/19p ordinary | CFD | reducing a short position | 15,685 | 5.3543 GBP |
32 17/19p ordinary | CFD | reducing a short position | 16,964 | 5.3549 GBP |
32 17/19p ordinary | CFD | reducing a short position | 400 | 5.3564 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: | 10 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