13th Mar 2025 08:06
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: | 12 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 | 2,334,527 | 5.3860 GBP | 5.2859 GBP |
32 17/19p ordinary | SALES | 2,180,777 | 5.3863 GBP | 5.2860 GBP |
32 17/19p ordinary | SALES | 10,373 | 6.3988 EUR | 6.3988 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 | 564 | 5.2860 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1 | 5.3100 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,259 | 5.3236 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,051 | 5.3343 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1 | 5.3540 GBP |
32 17/19p ordinary | CFD | increasing a long position | 10 | 5.3550 GBP |
32 17/19p ordinary | CFD | increasing a long position | 31,467 | 5.3570 GBP |
32 17/19p ordinary | CFD | increasing a long position | 850 | 5.3574 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,070 | 5.3592 GBP |
32 17/19p ordinary | CFD | increasing a long position | 75,736 | 5.3596 GBP |
32 17/19p ordinary | CFD | increasing a long position | 933 | 5.3615 GBP |
32 17/19p ordinary | CFD | increasing a long position | 98 | 5.3623 GBP |
32 17/19p ordinary | CFD | increasing a long position | 77,711 | 5.3680 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,436 | 5.3692 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,432 | 5.3692 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,239 | 5.3692 GBP |
32 17/19p ordinary | CFD | increasing a long position | 813 | 5.3692 GBP |
32 17/19p ordinary | CFD | increasing a long position | 242 | 5.3692 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,579 | 5.3714 GBP |
32 17/19p ordinary | CFD | increasing a long position | 31,687 | 5.3740 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,348 | 5.3752 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,478 | 5.3773 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4 | 5.3795 GBP |
32 17/19p ordinary | CFD | increasing a short position | 153 | 5.2860 GBP |
32 17/19p ordinary | CFD | increasing a short position | 466 | 5.2860 GBP |
32 17/19p ordinary | CFD | increasing a short position | 53 | 5.2910 GBP |
32 17/19p ordinary | CFD | increasing a short position | 455 | 5.2910 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,140 | 5.3076 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,031 | 5.3145 GBP |
32 17/19p ordinary | CFD | increasing a short position | 11,753 | 5.3340 GBP |
32 17/19p ordinary | CFD | increasing a short position | 8,171 | 5.3340 GBP |
32 17/19p ordinary | CFD | increasing a short position | 50,076 | 5.3340 GBP |
32 17/19p ordinary | CFD | increasing a short position | 405 | 5.3502 GBP |
32 17/19p ordinary | CFD | increasing a short position | 486 | 5.3560 GBP |
32 17/19p ordinary | CFD | increasing a short position | 311 | 5.3640 GBP |
32 17/19p ordinary | CFD | increasing a short position | 11,276 | 5.3702 GBP |
32 17/19p ordinary | CFD | increasing a short position | 7,840 | 5.3702 GBP |
32 17/19p ordinary | CFD | increasing a short position | 48,044 | 5.3702 GBP |
32 17/19p ordinary | CFD | increasing a short position | 52 | 5.3728 GBP |
32 17/19p ordinary | CFD | increasing a short position | 436 | 5.3739 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,545 | 5.3756 GBP |
32 17/19p ordinary | CFD | increasing a short position | 72,088 | 5.3793 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,322 | 5.3807 GBP |
32 17/19p ordinary | CFD | increasing a short position | 7 | 5.3846 GBP |
32 17/19p ordinary | CFD | increasing a short position | 831 | 5.3860 GBP |
32 17/19p ordinary | CFD | increasing a short position | 118 | 5.3860 GBP |
32 17/19p ordinary | CFD | increasing a short position | 79,566 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,259 | 5.3229 GBP |
32 17/19p ordinary | CFD | reducing a long position | 22,754 | 5.3317 GBP |
32 17/19p ordinary | CFD | reducing a long position | 38,831 | 5.3524 GBP |
32 17/19p ordinary | CFD | reducing a long position | 93,806 | 5.3527 GBP |
32 17/19p ordinary | CFD | reducing a long position | 278,013 | 5.3527 GBP |
32 17/19p ordinary | CFD | reducing a long position | 933 | 5.3612 GBP |
32 17/19p ordinary | CFD | reducing a long position | 800 | 5.3652 GBP |
32 17/19p ordinary | CFD | reducing a long position | 300 | 5.3652 GBP |
32 17/19p ordinary | CFD | reducing a long position | 589 | 5.3739 GBP |
32 17/19p ordinary | CFD | reducing a long position | 15 | 5.3780 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1 | 5.3800 GBP |
32 17/19p ordinary | CFD | reducing a long position | 15,041 | 5.3830 GBP |
32 17/19p ordinary | CFD | reducing a long position | 35,485 | 5.3830 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a long position | 52,982 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,204 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a short position | 6 | 5.3033 GBP |
32 17/19p ordinary | CFD | reducing a short position | 20,524 | 5.3395 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,600 | 5.3434 GBP |
32 17/19p ordinary | CFD | reducing a short position | 30,168 | 5.3490 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,262 | 5.3576 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,221 | 5.3577 GBP |
32 17/19p ordinary | CFD | reducing a short position | 797 | 5.3592 GBP |
32 17/19p ordinary | CFD | reducing a short position | 43,536 | 5.3597 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,740 | 5.3629 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3 | 5.3633 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,766 | 5.3635 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,590 | 5.3637 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,871 | 5.3637 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8 | 5.3638 GBP |
32 17/19p ordinary | CFD | reducing a short position | 316 | 5.3646 GBP |
32 17/19p ordinary | CFD | reducing a short position | 26,773 | 5.3647 GBP |
32 17/19p ordinary | CFD | reducing a short position | 273 | 5.3647 GBP |
32 17/19p ordinary | CFD | reducing a short position | 32 | 5.3647 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,244 | 5.3669 GBP |
32 17/19p ordinary | CFD | reducing a short position | 625 | 5.3670 GBP |
32 17/19p ordinary | CFD | reducing a short position | 56,064 | 5.3678 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,362 | 5.3678 GBP |
32 17/19p ordinary | CFD | reducing a short position | 47,597 | 5.3695 GBP |
32 17/19p ordinary | CFD | reducing a short position | 266 | 5.3710 GBP |
32 17/19p ordinary | CFD | reducing a short position | 34,753 | 5.3716 GBP |
32 17/19p ordinary | CFD | reducing a short position | 52,132 | 5.3717 GBP |
32 17/19p ordinary | CFD | reducing a short position | 133 | 5.3752 GBP |
32 17/19p ordinary | CFD | reducing a short position | 16,486 | 5.3774 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8,704 | 5.3795 GBP |
32 17/19p ordinary | CFD | reducing a short position | 663 | 5.3797 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,373 | 5.3803 GBP |
32 17/19p ordinary | CFD | reducing a short position | 57,452 | 5.3816 GBP |
32 17/19p ordinary | CFD | reducing a short position | 54 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a short position | 258 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a short position | 37,264 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a short position | 700 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,544 | 5.3860 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8,768 | 5.3860 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: | 13 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