8th May 2025 07:40
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 May 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 | 1,917,845 | 5.8220 GBP | 5.7510 GBP |
32 17/19p ordinary | SALES | 3,454,335 | 5.8260 GBP | 5.7520 GBP |
32 17/19p ordinary | SALES | 65,498 | 6.8397 EUR | 6.8390 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 | 293 | 5.7545 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,559 | 5.7795 GBP |
32 17/19p ordinary | CFD | increasing a long position | 204,399 | 5.7796 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,592 | 5.7821 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,021 | 5.7859 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,604 | 5.7860 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,205 | 5.7861 GBP |
32 17/19p ordinary | CFD | increasing a long position | 427 | 5.7880 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,309 | 5.7880 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,561 | 5.7883 GBP |
32 17/19p ordinary | CFD | increasing a long position | 391 | 5.7885 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,520 | 5.7886 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,435 | 5.7892 GBP |
32 17/19p ordinary | CFD | increasing a long position | 458 | 5.7918 GBP |
32 17/19p ordinary | CFD | increasing a long position | 48,734 | 5.7979 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,075 | 5.7984 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,900 | 5.7994 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,100 | 5.7994 GBP |
32 17/19p ordinary | CFD | increasing a long position | 21,800 | 5.7994 GBP |
32 17/19p ordinary | CFD | increasing a long position | 400 | 5.7994 GBP |
32 17/19p ordinary | CFD | increasing a long position | 14,100 | 5.7994 GBP |
32 17/19p ordinary | CFD | increasing a long position | 55,400 | 5.7994 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,700 | 5.7994 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,200 | 5.7995 GBP |
32 17/19p ordinary | CFD | increasing a long position | 500 | 5.7995 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,725 | 5.7999 GBP |
32 17/19p ordinary | CFD | increasing a long position | 55,410 | 5.8000 GBP |
32 17/19p ordinary | CFD | increasing a long position | 384 | 5.8001 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,985 | 5.8015 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,794 | 5.8015 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,838 | 5.8016 GBP |
32 17/19p ordinary | CFD | increasing a long position | 339,535 | 5.8048 GBP |
32 17/19p ordinary | CFD | increasing a long position | 65,383 | 5.8059 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,647 | 5.8089 GBP |
32 17/19p ordinary | CFD | increasing a long position | 81,652 | 5.8099 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,595 | 5.8106 GBP |
32 17/19p ordinary | CFD | increasing a long position | 36,929 | 5.8121 GBP |
32 17/19p ordinary | CFD | increasing a long position | 43,316 | 5.8122 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,768 | 5.8147 GBP |
32 17/19p ordinary | CFD | increasing a long position | 565 | 5.8151 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,462 | 5.8152 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,423 | 5.8155 GBP |
32 17/19p ordinary | CFD | increasing a long position | 52,693 | 5.8156 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,931 | 5.8157 GBP |
32 17/19p ordinary | CFD | increasing a long position | 129,700 | 5.8158 GBP |
32 17/19p ordinary | CFD | increasing a long position | 33,113 | 5.8159 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,273 | 5.8160 GBP |
32 17/19p ordinary | CFD | increasing a long position | 569 | 5.8160 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,362 | 5.8160 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,178 | 5.8162 GBP |
32 17/19p ordinary | CFD | increasing a short position | 69 | 5.7656 GBP |
32 17/19p ordinary | CFD | increasing a short position | 69,636 | 5.7656 GBP |
32 17/19p ordinary | CFD | increasing a short position | 934 | 5.7656 GBP |
32 17/19p ordinary | CFD | increasing a short position | 307 | 5.7656 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,161 | 5.7671 GBP |
32 17/19p ordinary | CFD | increasing a short position | 173,453 | 5.7795 GBP |
32 17/19p ordinary | CFD | increasing a short position | 18,269 | 5.7862 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,733 | 5.7967 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,548 | 5.8200 GBP |
32 17/19p ordinary | CFD | increasing a short position | 43 | 5.8250 GBP |
32 17/19p ordinary | CFD | reducing a long position | 771 | 5.7616 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,277 | 5.7616 GBP |
32 17/19p ordinary | CFD | reducing a long position | 550 | 5.7616 GBP |
32 17/19p ordinary | CFD | reducing a long position | 77 | 5.7740 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,592 | 5.7750 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,858 | 5.7776 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,511 | 5.7812 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,691 | 5.7812 GBP |
32 17/19p ordinary | CFD | reducing a long position | 874 | 5.7816 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,604 | 5.7836 GBP |
32 17/19p ordinary | CFD | reducing a long position | 34,920 | 5.7862 GBP |
32 17/19p ordinary | CFD | reducing a long position | 937 | 5.7916 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,197 | 5.8090 GBP |
32 17/19p ordinary | CFD | reducing a long position | 9,357 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,019 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 81,652 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,243 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 207 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 658 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 27 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 11,313 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 36 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,812 | 5.8161 GBP |
32 17/19p ordinary | CFD | reducing a long position | 107 | 5.8161 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,168 | 5.8163 GBP |
32 17/19p ordinary | CFD | reducing a long position | 28,535 | 5.8172 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,800 | 5.7776 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,864 | 5.7798 GBP |
32 17/19p ordinary | CFD | reducing a short position | 24,353 | 5.7798 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,199 | 5.7802 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,192 | 5.7802 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,604 | 5.7835 GBP |
32 17/19p ordinary | CFD | reducing a short position | 81,766 | 5.7835 GBP |
32 17/19p ordinary | CFD | reducing a short position | 86 | 5.7838 GBP |
32 17/19p ordinary | CFD | reducing a short position | 718 | 5.7839 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,900 | 5.7847 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,175 | 5.7880 GBP |
32 17/19p ordinary | CFD | reducing a short position | 18,269 | 5.7883 GBP |
32 17/19p ordinary | CFD | reducing a short position | 33 | 5.7894 GBP |
32 17/19p ordinary | CFD | reducing a short position | 270 | 5.7894 GBP |
32 17/19p ordinary | CFD | reducing a short position | 32,177 | 5.7934 GBP |
32 17/19p ordinary | CFD | reducing a short position | 32,706 | 5.7982 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,745 | 5.7982 GBP |
32 17/19p ordinary | CFD | reducing a short position | 6,733 | 5.7984 GBP |
32 17/19p ordinary | CFD | reducing a short position | 66,883 | 5.7988 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,559 | 5.7992 GBP |
32 17/19p ordinary | CFD | reducing a short position | 419 | 5.7993 GBP |
32 17/19p ordinary | CFD | reducing a short position | 11,204 | 5.8009 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,650 | 5.8022 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,742 | 5.8105 GBP |
32 17/19p ordinary | CFD | reducing a short position | 26,080 | 5.8105 GBP |
32 17/19p ordinary | CFD | reducing a short position | 173,466 | 5.8157 GBP |
32 17/19p ordinary | CFD | reducing a short position | 53,725 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a short position | 41,506 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a short position | 206 | 5.8160 GBP |
32 17/19p ordinary | CFD | reducing a short position | 20,809 | 5.8161 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: | 08 May 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