8th Apr 2025 09:08
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 April 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 | SALES | 5,881,348 | 5.1740 GBP | 4.8760 GBP |
32 17/19p ordinary | PURCHASES | 4,615,578 | 5.2080 GBP | 4.8920 GBP |
32 17/19p ordinary | PURCHASES | 75,896 | 5.7801 EUR | 5.7801 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 | 3,233 | 4.8847 GBP |
32 17/19p ordinary | CFD | increasing a long position | 17,645 | 4.9088 GBP |
32 17/19p ordinary | CFD | increasing a long position | 500 | 4.9143 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,381 | 4.9143 GBP |
32 17/19p ordinary | CFD | increasing a long position | 400 | 4.9143 GBP |
32 17/19p ordinary | CFD | increasing a long position | 686 | 4.9143 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,529 | 4.9307 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,410 | 4.9309 GBP |
32 17/19p ordinary | CFD | increasing a long position | 251 | 4.9310 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,685 | 4.9310 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,608 | 4.9371 GBP |
32 17/19p ordinary | CFD | increasing a long position | 243 | 4.9371 GBP |
32 17/19p ordinary | CFD | increasing a long position | 96 | 4.9389 GBP |
32 17/19p ordinary | CFD | increasing a long position | 19,839 | 4.9435 GBP |
32 17/19p ordinary | CFD | increasing a long position | 15,300 | 4.9435 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,400 | 4.9435 GBP |
32 17/19p ordinary | CFD | increasing a long position | 104,522 | 4.9435 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,800 | 4.9435 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,435 | 4.9461 GBP |
32 17/19p ordinary | CFD | increasing a long position | 152,861 | 4.9470 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,709 | 4.9488 GBP |
32 17/19p ordinary | CFD | increasing a long position | 759 | 4.9492 GBP |
32 17/19p ordinary | CFD | increasing a long position | 47,305 | 4.9527 GBP |
32 17/19p ordinary | CFD | increasing a long position | 89 | 4.9547 GBP |
32 17/19p ordinary | CFD | increasing a long position | 286 | 4.9548 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,949 | 4.9590 GBP |
32 17/19p ordinary | CFD | increasing a long position | 40,228 | 4.9641 GBP |
32 17/19p ordinary | CFD | increasing a long position | 581,800 | 4.9651 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,295 | 4.9654 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,499 | 4.9700 GBP |
32 17/19p ordinary | CFD | increasing a long position | 301 | 4.9708 GBP |
32 17/19p ordinary | CFD | increasing a long position | 830 | 4.9718 GBP |
32 17/19p ordinary | CFD | increasing a long position | 126 | 4.9718 GBP |
32 17/19p ordinary | CFD | increasing a long position | 595 | 4.9718 GBP |
32 17/19p ordinary | CFD | increasing a long position | 157 | 4.9718 GBP |
32 17/19p ordinary | CFD | increasing a long position | 190 | 4.9718 GBP |
32 17/19p ordinary | CFD | increasing a long position | 30,000 | 4.9740 GBP |
32 17/19p ordinary | CFD | increasing a long position | 63,425 | 4.9741 GBP |
32 17/19p ordinary | CFD | increasing a long position | 86 | 4.9767 GBP |
32 17/19p ordinary | CFD | increasing a long position | 45,203 | 4.9837 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,662 | 4.9889 GBP |
32 17/19p ordinary | CFD | increasing a long position | 10,288 | 4.9905 GBP |
32 17/19p ordinary | CFD | increasing a long position | 10,141 | 4.9938 GBP |
32 17/19p ordinary | CFD | increasing a long position | 20,511 | 4.9939 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5 | 4.9977 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,300 | 5.0092 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,264 | 5.0314 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,363 | 5.1440 GBP |
32 17/19p ordinary | CFD | increasing a short position | 5 | 4.9161 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,660 | 4.9212 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4 | 4.9296 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,540 | 4.9310 GBP |
32 17/19p ordinary | CFD | increasing a short position | 16,336 | 4.9310 GBP |
32 17/19p ordinary | CFD | increasing a short position | 33,189 | 4.9310 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,229 | 4.9310 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,385 | 4.9310 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,321 | 4.9390 GBP |
32 17/19p ordinary | CFD | increasing a short position | 74,061 | 4.9417 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,258 | 4.9436 GBP |
32 17/19p ordinary | CFD | increasing a short position | 839 | 4.9468 GBP |
32 17/19p ordinary | CFD | increasing a short position | 75,896 | 4.9510 GBP |
32 17/19p ordinary | CFD | increasing a short position | 15,221 | 4.9562 GBP |
32 17/19p ordinary | CFD | increasing a short position | 195,947 | 4.9590 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,060 | 4.9606 GBP |
32 17/19p ordinary | CFD | increasing a short position | 112 | 4.9623 GBP |
32 17/19p ordinary | CFD | increasing a short position | 47,305 | 4.9645 GBP |
32 17/19p ordinary | CFD | increasing a short position | 5,603 | 4.9645 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,227 | 4.9645 GBP |
32 17/19p ordinary | CFD | increasing a short position | 10,946 | 4.9645 GBP |
32 17/19p ordinary | CFD | increasing a short position | 16,665 | 4.9645 GBP |
32 17/19p ordinary | CFD | increasing a short position | 19,739 | 4.9647 GBP |
32 17/19p ordinary | CFD | increasing a short position | 58,051 | 4.9676 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,437 | 4.9708 GBP |
32 17/19p ordinary | CFD | increasing a short position | 387 | 4.9708 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,052 | 4.9708 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,540 | 4.9708 GBP |
32 17/19p ordinary | CFD | increasing a short position | 498 | 4.9708 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,779 | 4.9708 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,910 | 4.9740 GBP |
32 17/19p ordinary | CFD | increasing a short position | 11,960 | 4.9740 GBP |
32 17/19p ordinary | CFD | increasing a short position | 29 | 4.9772 GBP |
32 17/19p ordinary | CFD | increasing a short position | 301 | 4.9905 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,343 | 5.0002 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,721 | 4.9060 GBP |
32 17/19p ordinary | CFD | reducing a long position | 382 | 4.9242 GBP |
32 17/19p ordinary | CFD | reducing a long position | 18,727 | 4.9310 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,419 | 4.9310 GBP |
32 17/19p ordinary | CFD | reducing a long position | 18,685 | 4.9310 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6 | 4.9317 GBP |
32 17/19p ordinary | CFD | reducing a long position | 38,091 | 4.9467 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,477 | 4.9486 GBP |
32 17/19p ordinary | CFD | reducing a long position | 24,214 | 4.9590 GBP |
32 17/19p ordinary | CFD | reducing a long position | 16,601 | 4.9613 GBP |
32 17/19p ordinary | CFD | reducing a long position | 17,712 | 4.9656 GBP |
32 17/19p ordinary | CFD | reducing a long position | 39,363 | 4.9670 GBP |
32 17/19p ordinary | CFD | reducing a long position | 20,049 | 4.9724 GBP |
32 17/19p ordinary | CFD | reducing a long position | 8,536 | 4.9739 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,949 | 4.9801 GBP |
32 17/19p ordinary | CFD | reducing a long position | 16,454 | 4.9817 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,612 | 4.9821 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,103 | 4.9897 GBP |
32 17/19p ordinary | CFD | reducing a long position | 13,295 | 5.0002 GBP |
32 17/19p ordinary | CFD | reducing a long position | 99 | 5.0021 GBP |
32 17/19p ordinary | CFD | reducing a long position | 301 | 5.0450 GBP |
32 17/19p ordinary | CFD | reducing a short position | 38,377 | 4.9306 GBP |
32 17/19p ordinary | CFD | reducing a short position | 154,423 | 4.9320 GBP |
32 17/19p ordinary | CFD | reducing a short position | 26,808 | 4.9393 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,125 | 4.9393 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,665 | 4.9396 GBP |
32 17/19p ordinary | CFD | reducing a short position | 36 | 4.9450 GBP |
32 17/19p ordinary | CFD | reducing a short position | 20,400 | 4.9521 GBP |
32 17/19p ordinary | CFD | reducing a short position | 22,327 | 4.9617 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10 | 4.9630 GBP |
32 17/19p ordinary | CFD | reducing a short position | 287 | 4.9654 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,572 | 4.9654 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,933 | 4.9654 GBP |
32 17/19p ordinary | CFD | reducing a short position | 662,123 | 4.9654 GBP |
32 17/19p ordinary | CFD | reducing a short position | 816 | 4.9685 GBP |
32 17/19p ordinary | CFD | reducing a short position | 179,142 | 4.9686 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,400 | 4.9774 GBP |
32 17/19p ordinary | CFD | reducing a short position | 12,682 | 4.9790 GBP |
32 17/19p ordinary | CFD | reducing a short position | 17,077 | 4.9824 GBP |
32 17/19p ordinary | CFD | reducing a short position | 33,189 | 4.9874 GBP |
32 17/19p ordinary | CFD | reducing a short position | 24,578 | 4.9991 GBP |
32 17/19p ordinary | CFD | reducing a short position | 301 | 5.0450 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 April 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