11th Feb 2025 07:38
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: | 10 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 | 3,137,894 | 5.1440 GBP | 5.0620 GBP |
32 17/19p ordinary | SALES | 2,785,548 | 5.1440 GBP | 5.0626 GBP |
32 17/19p ordinary | PURCHASES | 112,150 | 6.0924 EUR | 6.0924 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 | 1,057 | 5.0705 GBP |
32 17/19p ordinary | CFD | increasing a long position | 504 | 5.0705 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,684 | 5.0705 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,234 | 5.0705 GBP |
32 17/19p ordinary | CFD | increasing a long position | 12,089 | 5.0705 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,560 | 5.0709 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,543 | 5.0712 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,726 | 5.0712 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,360 | 5.0712 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,852 | 5.0712 GBP |
32 17/19p ordinary | CFD | increasing a long position | 32,609 | 5.0712 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,631 | 5.0716 GBP |
32 17/19p ordinary | CFD | increasing a long position | 566 | 5.0716 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,187 | 5.0716 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,567 | 5.0716 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,891 | 5.0716 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,371 | 5.0721 GBP |
32 17/19p ordinary | CFD | increasing a long position | 861 | 5.0721 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,633 | 5.0721 GBP |
32 17/19p ordinary | CFD | increasing a long position | 410 | 5.0721 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,843 | 5.0721 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,163 | 5.0741 GBP |
32 17/19p ordinary | CFD | increasing a long position | 15,560 | 5.0741 GBP |
32 17/19p ordinary | CFD | increasing a long position | 649 | 5.0741 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,360 | 5.0741 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,167 | 5.0741 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,327 | 5.0743 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,766 | 5.0743 GBP |
32 17/19p ordinary | CFD | increasing a long position | 14,913 | 5.0743 GBP |
32 17/19p ordinary | CFD | increasing a long position | 55,724 | 5.0743 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,875 | 5.0743 GBP |
32 17/19p ordinary | CFD | increasing a long position | 134 | 5.0756 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,538 | 5.0756 GBP |
32 17/19p ordinary | CFD | increasing a long position | 214 | 5.0756 GBP |
32 17/19p ordinary | CFD | increasing a long position | 411 | 5.0756 GBP |
32 17/19p ordinary | CFD | increasing a long position | 64 | 5.0756 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,632 | 5.0757 GBP |
32 17/19p ordinary | CFD | increasing a long position | 788 | 5.0757 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,652 | 5.0757 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,890 | 5.0757 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,055 | 5.0757 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,170 | 5.0781 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,398 | 5.0781 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,247 | 5.0781 GBP |
32 17/19p ordinary | CFD | increasing a long position | 350 | 5.0781 GBP |
32 17/19p ordinary | CFD | increasing a long position | 734 | 5.0781 GBP |
32 17/19p ordinary | CFD | increasing a long position | 636 | 5.0787 GBP |
32 17/19p ordinary | CFD | increasing a long position | 26 | 5.0787 GBP |
32 17/19p ordinary | CFD | increasing a long position | 170 | 5.0787 GBP |
32 17/19p ordinary | CFD | increasing a long position | 55 | 5.0787 GBP |
32 17/19p ordinary | CFD | increasing a long position | 88 | 5.0787 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,964 | 5.0857 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,063 | 5.0857 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,295 | 5.0857 GBP |
32 17/19p ordinary | CFD | increasing a long position | 14,813 | 5.0857 GBP |
32 17/19p ordinary | CFD | increasing a long position | 618 | 5.0857 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,667 | 5.0867 GBP |
32 17/19p ordinary | CFD | increasing a long position | 51,073 | 5.0867 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,467 | 5.0867 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,130 | 5.0867 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,115 | 5.0867 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,562 | 5.0895 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,578 | 5.0895 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,334 | 5.0895 GBP |
32 17/19p ordinary | CFD | increasing a long position | 837 | 5.0895 GBP |
32 17/19p ordinary | CFD | increasing a long position | 399 | 5.0895 GBP |
32 17/19p ordinary | CFD | increasing a short position | 65 | 5.0694 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,082 | 5.0720 GBP |
32 17/19p ordinary | CFD | increasing a short position | 118,650 | 5.0720 GBP |
32 17/19p ordinary | CFD | increasing a short position | 493 | 5.0720 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,495 | 5.0720 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,931 | 5.0720 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,865 | 5.0720 GBP |
32 17/19p ordinary | CFD | increasing a short position | 35,016 | 5.0723 GBP |
32 17/19p ordinary | CFD | increasing a short position | 286 | 5.0744 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,149 | 5.0746 GBP |
32 17/19p ordinary | CFD | increasing a short position | 81 | 5.0763 GBP |
32 17/19p ordinary | CFD | increasing a short position | 256,326 | 5.0763 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,433 | 5.0763 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,034 | 5.0778 GBP |
32 17/19p ordinary | CFD | increasing a short position | 32,580 | 5.0824 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,727 | 5.0836 GBP |
32 17/19p ordinary | CFD | increasing a short position | 66,168 | 5.0874 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,740 | 5.0881 GBP |
32 17/19p ordinary | CFD | increasing a short position | 16,585 | 5.0896 GBP |
32 17/19p ordinary | CFD | increasing a short position | 50,289 | 5.0896 GBP |
32 17/19p ordinary | CFD | increasing a short position | 33,647 | 5.0932 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,916 | 5.0963 GBP |
32 17/19p ordinary | CFD | increasing a short position | 136 | 5.1009 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,757 | 5.1012 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,699 | 5.1042 GBP |
32 17/19p ordinary | CFD | increasing a short position | 788 | 5.1042 GBP |
32 17/19p ordinary | CFD | increasing a short position | 39,059 | 5.1078 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,060 | 5.1087 GBP |
32 17/19p ordinary | CFD | increasing a short position | 289 | 5.1120 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,301 | 5.1120 GBP |
32 17/19p ordinary | CFD | increasing a short position | 40,000 | 5.1124 GBP |
32 17/19p ordinary | CFD | increasing a short position | 5,019 | 5.1190 GBP |
32 17/19p ordinary | CFD | increasing a short position | 7,300 | 5.1204 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,394 | 5.1331 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,048 | 5.1331 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,232 | 5.1340 GBP |
32 17/19p ordinary | CFD | reducing a long position | 581 | 5.0720 GBP |
32 17/19p ordinary | CFD | reducing a long position | 112,150 | 5.0726 GBP |
32 17/19p ordinary | CFD | reducing a long position | 25,275 | 5.0742 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,480 | 5.0749 GBP |
32 17/19p ordinary | CFD | reducing a long position | 45,859 | 5.0788 GBP |
32 17/19p ordinary | CFD | reducing a long position | 28,151 | 5.0874 GBP |
32 17/19p ordinary | CFD | reducing a long position | 155 | 5.1326 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,668 | 5.0705 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,499 | 5.0712 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,872 | 5.0716 GBP |
32 17/19p ordinary | CFD | reducing a short position | 412 | 5.0716 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,340 | 5.0720 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,509 | 5.0720 GBP |
32 17/19p ordinary | CFD | reducing a short position | 16,671 | 5.0720 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,060 | 5.0720 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,358 | 5.0721 GBP |
32 17/19p ordinary | CFD | reducing a short position | 115 | 5.0734 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,147 | 5.0741 GBP |
32 17/19p ordinary | CFD | reducing a short position | 26,719 | 5.0741 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,688 | 5.0743 GBP |
32 17/19p ordinary | CFD | reducing a short position | 13,900 | 5.0747 GBP |
32 17/19p ordinary | CFD | reducing a short position | 212 | 5.0756 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,606 | 5.0757 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,158 | 5.0781 GBP |
32 17/19p ordinary | CFD | reducing a short position | 88 | 5.0787 GBP |
32 17/19p ordinary | CFD | reducing a short position | 25,754 | 5.0792 GBP |
32 17/19p ordinary | CFD | reducing a short position | 289 | 5.0820 GBP |
32 17/19p ordinary | CFD | reducing a short position | 505 | 5.0848 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,044 | 5.0857 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,047 | 5.0867 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,321 | 5.0895 GBP |
32 17/19p ordinary | CFD | reducing a short position | 6,582 | 5.0898 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,770 | 5.0924 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,757 | 5.0991 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,752 | 5.1171 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: | 11 February 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.