30th May 2025 09:46
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: | 29 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 | SALES | 1,921,652 | 6.1480 GBP | 6.0820 GBP |
32 17/19p ordinary | PURCHASES | 1,721,704 | 6.1500 GBP | 6.0860 GBP |
32 17/19p ordinary | SALES | 178 | 8.2772 USD | 8.2772 USD |
(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 | 595 | 6.1180 GBP |
32 17/19p ordinary | CFD | increasing a long position | 19,000 | 6.1258 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,852 | 6.1259 GBP |
32 17/19p ordinary | CFD | increasing a long position | 23 | 6.1293 GBP |
32 17/19p ordinary | CFD | increasing a long position | 25,113 | 6.1298 GBP |
32 17/19p ordinary | CFD | increasing a long position | 361,800 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,300 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 200 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 52,100 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 126,800 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 500 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 118,600 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 103,400 | 6.1330 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,800 | 6.1331 GBP |
32 17/19p ordinary | CFD | increasing a long position | 258 | 6.1351 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,083 | 6.1360 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,386 | 6.1370 GBP |
32 17/19p ordinary | CFD | increasing a long position | 949 | 6.1410 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,153 | 6.1428 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,882 | 6.1428 GBP |
32 17/19p ordinary | CFD | increasing a long position | 34,603 | 6.1429 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,981 | 6.1430 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,273 | 6.1440 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,070 | 6.1443 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,975 | 6.1449 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,117 | 6.1449 GBP |
32 17/19p ordinary | CFD | increasing a long position | 65 | 6.1455 GBP |
32 17/19p ordinary | CFD | increasing a long position | 123 | 6.1455 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,116 | 6.1456 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,877 | 6.1460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,054 | 6.1460 GBP |
32 17/19p ordinary | CFD | increasing a long position | 79 | 6.1460 GBP |
32 17/19p ordinary | CFD | increasing a short position | 710 | 6.1028 GBP |
32 17/19p ordinary | CFD | increasing a short position | 7,800 | 6.1286 GBP |
32 17/19p ordinary | CFD | increasing a short position | 145 | 6.1345 GBP |
32 17/19p ordinary | CFD | increasing a short position | 278 | 6.1345 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,030 | 6.1400 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,660 | 6.1430 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,115 | 6.1465 GBP |
32 17/19p ordinary | CFD | increasing a short position | 159 | 6.1465 GBP |
32 17/19p ordinary | CFD | increasing a short position | 160,794 | 6.1465 GBP |
32 17/19p ordinary | CFD | increasing a short position | 645 | 6.1465 GBP |
32 17/19p ordinary | CFD | reducing a long position | 681 | 6.0944 GBP |
32 17/19p ordinary | CFD | reducing a long position | 19,554 | 6.1028 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,636 | 6.1089 GBP |
32 17/19p ordinary | CFD | reducing a long position | 759 | 6.1147 GBP |
32 17/19p ordinary | CFD | reducing a long position | 15,257 | 6.1198 GBP |
32 17/19p ordinary | CFD | reducing a long position | 46,698 | 6.1198 GBP |
32 17/19p ordinary | CFD | reducing a long position | 993 | 6.1240 GBP |
32 17/19p ordinary | CFD | reducing a long position | 325 | 6.1240 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,054 | 6.1240 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,812 | 6.1284 GBP |
32 17/19p ordinary | CFD | reducing a long position | 159,222 | 6.1292 GBP |
32 17/19p ordinary | CFD | reducing a long position | 24,776 | 6.1300 GBP |
32 17/19p ordinary | CFD | reducing a long position | 26,239 | 6.1343 GBP |
32 17/19p ordinary | CFD | reducing a long position | 310 | 6.1345 GBP |
32 17/19p ordinary | CFD | reducing a long position | 593 | 6.1345 GBP |
32 17/19p ordinary | CFD | reducing a long position | 47,648 | 6.1397 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,457 | 6.1397 GBP |
32 17/19p ordinary | CFD | reducing a long position | 10 | 6.1453 GBP |
32 17/19p ordinary | CFD | reducing a long position | 65,696 | 6.1454 GBP |
32 17/19p ordinary | CFD | reducing a long position | 85 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 61,711 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 27,703 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,305 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 719 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,194 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 342 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,588 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 16,237 | 6.1460 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,799 | 6.1465 GBP |
32 17/19p ordinary | CFD | reducing a short position | 18,361 | 6.0918 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,880 | 6.1220 GBP |
32 17/19p ordinary | CFD | reducing a short position | 710 | 6.1298 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,883 | 6.1309 GBP |
32 17/19p ordinary | CFD | reducing a short position | 178 | 6.1340 GBP |
32 17/19p ordinary | CFD | reducing a short position | 11,875 | 6.1430 GBP |
32 17/19p ordinary | CFD | reducing a short position | 37,372 | 6.1437 GBP |
32 17/19p ordinary | CFD | reducing a short position | 76 | 6.1461 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: | 30 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