25th Feb 2025 08:25
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: | 24 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 | SALES | 2,912,125 | 5.0283 GBP | 4.9730 GBP |
32 17/19p ordinary | PURCHASES | 4,586,235 | 5.0284 GBP | 4.9740 GBP |
32 17/19p ordinary | PURCHASES | 39,053 | 6.0559 EUR | 6.0559 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 | 881 | 4.9873 GBP |
32 17/19p ordinary | CFD | increasing a long position | 100,345 | 4.9885 GBP |
32 17/19p ordinary | CFD | increasing a long position | 100,345 | 4.9895 GBP |
32 17/19p ordinary | CFD | increasing a long position | 466 | 4.9922 GBP |
32 17/19p ordinary | CFD | increasing a long position | 80,775 | 4.9954 GBP |
32 17/19p ordinary | CFD | increasing a long position | 33,870 | 4.9954 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,072 | 4.9955 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,830 | 4.9980 GBP |
32 17/19p ordinary | CFD | increasing a long position | 83,995 | 5.0023 GBP |
32 17/19p ordinary | CFD | increasing a long position | 325 | 5.0151 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,398 | 5.0173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,022 | 5.0250 GBP |
32 17/19p ordinary | CFD | increasing a long position | 24,718 | 5.0279 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,150 | 4.9826 GBP |
32 17/19p ordinary | CFD | increasing a short position | 10,488 | 4.9855 GBP |
32 17/19p ordinary | CFD | increasing a short position | 306 | 4.9856 GBP |
32 17/19p ordinary | CFD | increasing a short position | 21,238 | 4.9867 GBP |
32 17/19p ordinary | CFD | increasing a short position | 10,978 | 4.9874 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,599 | 4.9874 GBP |
32 17/19p ordinary | CFD | increasing a short position | 16,126 | 4.9882 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,040 | 4.9893 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,550 | 4.9894 GBP |
32 17/19p ordinary | CFD | increasing a short position | 27,807 | 4.9895 GBP |
32 17/19p ordinary | CFD | increasing a short position | 27,118 | 4.9896 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,301 | 4.9900 GBP |
32 17/19p ordinary | CFD | increasing a short position | 86,757 | 4.9902 GBP |
32 17/19p ordinary | CFD | increasing a short position | 62,274 | 4.9903 GBP |
32 17/19p ordinary | CFD | increasing a short position | 505 | 4.9930 GBP |
32 17/19p ordinary | CFD | increasing a short position | 247,790 | 4.9932 GBP |
32 17/19p ordinary | CFD | increasing a short position | 32,030 | 4.9939 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1 | 4.9980 GBP |
32 17/19p ordinary | CFD | increasing a short position | 300 | 4.9983 GBP |
32 17/19p ordinary | CFD | increasing a short position | 689 | 4.9983 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,491 | 4.9989 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,225 | 4.9996 GBP |
32 17/19p ordinary | CFD | increasing a short position | 755 | 5.0002 GBP |
32 17/19p ordinary | CFD | increasing a short position | 17,842 | 5.0031 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,098 | 5.0031 GBP |
32 17/19p ordinary | CFD | increasing a short position | 279 | 5.0097 GBP |
32 17/19p ordinary | CFD | increasing a short position | 97,396 | 5.0133 GBP |
32 17/19p ordinary | CFD | increasing a short position | 343 | 5.0134 GBP |
32 17/19p ordinary | CFD | increasing a short position | 39,053 | 5.0191 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,956 | 5.0203 GBP |
32 17/19p ordinary | CFD | increasing a short position | 100 | 5.0264 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,367,973 | 5.0280 GBP |
32 17/19p ordinary | CFD | increasing a short position | 809 | 5.0280 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,159 | 5.0280 GBP |
32 17/19p ordinary | CFD | increasing a short position | 579 | 5.0280 GBP |
32 17/19p ordinary | CFD | increasing a short position | 15,593 | 5.0280 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,809 | 5.0284 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,788 | 4.9826 GBP |
32 17/19p ordinary | CFD | reducing a long position | 20,249 | 4.9826 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,439 | 4.9826 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,797 | 4.9826 GBP |
32 17/19p ordinary | CFD | reducing a long position | 880 | 4.9826 GBP |
32 17/19p ordinary | CFD | reducing a long position | 24,327 | 4.9840 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,891 | 4.9856 GBP |
32 17/19p ordinary | CFD | reducing a long position | 256 | 4.9856 GBP |
32 17/19p ordinary | CFD | reducing a long position | 398 | 4.9856 GBP |
32 17/19p ordinary | CFD | reducing a long position | 125 | 4.9856 GBP |
32 17/19p ordinary | CFD | reducing a long position | 776 | 4.9856 GBP |
32 17/19p ordinary | CFD | reducing a long position | 466 | 4.9879 GBP |
32 17/19p ordinary | CFD | reducing a long position | 83,995 | 4.9885 GBP |
32 17/19p ordinary | CFD | reducing a long position | 42,851 | 4.9894 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,862 | 4.9894 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,804 | 4.9894 GBP |
32 17/19p ordinary | CFD | reducing a long position | 11,512 | 4.9894 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,900 | 4.9894 GBP |
32 17/19p ordinary | CFD | reducing a long position | 10,879 | 4.9900 GBP |
32 17/19p ordinary | CFD | reducing a long position | 40,496 | 4.9900 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,595 | 4.9900 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,759 | 4.9900 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,576 | 4.9900 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,401 | 4.9910 GBP |
32 17/19p ordinary | CFD | reducing a long position | 391 | 4.9936 GBP |
32 17/19p ordinary | CFD | reducing a long position | 57,340 | 4.9945 GBP |
32 17/19p ordinary | CFD | reducing a long position | 610 | 4.9989 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,933 | 4.9989 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,772 | 4.9989 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,043 | 4.9989 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,246 | 4.9989 GBP |
32 17/19p ordinary | CFD | reducing a long position | 362 | 5.0066 GBP |
32 17/19p ordinary | CFD | reducing a long position | 13,650 | 5.0158 GBP |
32 17/19p ordinary | CFD | reducing a long position | 8,846 | 5.0169 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,642 | 5.0284 GBP |
32 17/19p ordinary | CFD | reducing a long position | 26,454 | 5.0284 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,348 | 5.0284 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,106 | 5.0284 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,149 | 5.0284 GBP |
32 17/19p ordinary | CFD | reducing a short position | 18,601 | 4.9863 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,501 | 4.9944 GBP |
32 17/19p ordinary | CFD | reducing a short position | 317,275 | 4.9955 GBP |
32 17/19p ordinary | CFD | reducing a short position | 255 | 4.9956 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8,619 | 4.9993 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,780 | 5.0018 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,950 | 5.0052 GBP |
32 17/19p ordinary | CFD | reducing a short position | 860 | 5.0089 GBP |
32 17/19p ordinary | CFD | reducing a short position | 9,313 | 5.0151 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,069 | 5.0164 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,063 | 5.0166 GBP |
32 17/19p ordinary | CFD | reducing a short position | 22,138 | 5.0173 GBP |
32 17/19p ordinary | CFD | reducing a short position | 42,394 | 5.0275 GBP |
32 17/19p ordinary | CFD | reducing a short position | 29,032 | 5.0279 GBP |
32 17/19p ordinary | CFD | reducing a short position | 336 | 5.0280 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: | 25 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.