14th May 2025 15:07
AMENDMENT(2(a), 2(b))
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 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 | 4,011,755 | 5.9030 GBP | 5.6900 GBP |
32 17/19p ordinary | PURCHASES | 3,352,295 | 5.9034 GBP | 5.6840 GBP |
32 17/19p ordinary | SALES | 20,887 | 6.8499 EUR | 6.8499 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 | 7,531 | 5.7285 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,792 | 5.7312 GBP |
32 17/19p ordinary | CFD | increasing a long position | 34,046 | 5.7312 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,775 | 5.7381 GBP |
32 17/19p ordinary | CFD | increasing a long position | 141,004 | 5.7423 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,610 | 5.7494 GBP |
32 17/19p ordinary | CFD | increasing a long position | 17,725 | 5.7508 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,104 | 5.7531 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,816 | 5.7531 GBP |
32 17/19p ordinary | CFD | increasing a long position | 34,046 | 5.7533 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,792 | 5.7533 GBP |
32 17/19p ordinary | CFD | increasing a long position | 537 | 5.7544 GBP |
32 17/19p ordinary | CFD | increasing a long position | 30,412 | 5.7547 GBP |
32 17/19p ordinary | CFD | increasing a long position | 21,601 | 5.7547 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,479 | 5.7549 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,805 | 5.7573 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,339 | 5.7581 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,418 | 5.7582 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,559 | 5.7595 GBP |
32 17/19p ordinary | CFD | increasing a long position | 409 | 5.7623 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,130 | 5.7626 GBP |
32 17/19p ordinary | CFD | increasing a long position | 20,887 | 5.7626 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,761 | 5.7627 GBP |
32 17/19p ordinary | CFD | increasing a long position | 14,670 | 5.7630 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,395 | 5.7631 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,797 | 5.7631 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,854 | 5.7632 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,500 | 5.7635 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,900 | 5.7635 GBP |
32 17/19p ordinary | CFD | increasing a long position | 47,220 | 5.7637 GBP |
32 17/19p ordinary | CFD | increasing a long position | 73,533 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,991 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a long position | 398 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,560 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a long position | 95 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a long position | 103,502 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a long position | 532 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a long position | 17,820 | 5.7684 GBP |
32 17/19p ordinary | CFD | increasing a long position | 316,696 | 5.7685 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,918 | 5.7687 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,939 | 5.7693 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,641 | 5.7693 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,219 | 5.7729 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,857 | 5.7729 GBP |
32 17/19p ordinary | CFD | increasing a long position | 124,978 | 5.7729 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,363 | 5.7779 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,134 | 5.7834 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,453 | 5.8034 GBP |
32 17/19p ordinary | CFD | increasing a long position | 10,632 | 5.8034 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,204 | 5.8083 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,872 | 5.8142 GBP |
32 17/19p ordinary | CFD | increasing a long position | 205 | 5.8337 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,342 | 5.8407 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,447 | 5.8696 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,059 | 5.7350 GBP |
32 17/19p ordinary | CFD | increasing a short position | 9,455 | 5.7352 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,330 | 5.7485 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,885 | 5.7526 GBP |
32 17/19p ordinary | CFD | increasing a short position | 18,373 | 5.7585 GBP |
32 17/19p ordinary | CFD | increasing a short position | 7,177 | 5.7623 GBP |
32 17/19p ordinary | CFD | increasing a short position | 142 | 5.7640 GBP |
32 17/19p ordinary | CFD | increasing a short position | 7,587 | 5.7641 GBP |
32 17/19p ordinary | CFD | increasing a short position | 80,813 | 5.7676 GBP |
32 17/19p ordinary | CFD | increasing a short position | 552 | 5.7685 GBP |
32 17/19p ordinary | CFD | increasing a short position | 128 | 5.7685 GBP |
32 17/19p ordinary | CFD | increasing a short position | 136,479 | 5.7685 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,567 | 5.7685 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,260 | 5.7095 GBP |
32 17/19p ordinary | CFD | reducing a long position | 8,307 | 5.7095 GBP |
32 17/19p ordinary | CFD | reducing a long position | 31,265 | 5.7118 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,531 | 5.7129 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,256 | 5.7388 GBP |
32 17/19p ordinary | CFD | reducing a long position | 43,652 | 5.7388 GBP |
32 17/19p ordinary | CFD | reducing a long position | 22,803 | 5.7458 GBP |
32 17/19p ordinary | CFD | reducing a long position | 61,406 | 5.7549 GBP |
32 17/19p ordinary | CFD | reducing a long position | 13,512 | 5.7565 GBP |
32 17/19p ordinary | CFD | reducing a long position | 73,533 | 5.7640 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,610 | 5.7640 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,366 | 5.7641 GBP |
32 17/19p ordinary | CFD | reducing a long position | 193 | 5.7644 GBP |
32 17/19p ordinary | CFD | reducing a long position | 523 | 5.7668 GBP |
32 17/19p ordinary | CFD | reducing a long position | 37,097 | 5.7676 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,843 | 5.7690 GBP |
32 17/19p ordinary | CFD | reducing a long position | 902 | 5.7690 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,168 | 5.7690 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,073 | 5.7721 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,202 | 5.7880 GBP |
32 17/19p ordinary | CFD | reducing a long position | 13,342 | 5.8036 GBP |
32 17/19p ordinary | CFD | reducing a long position | 406 | 5.8123 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,555 | 5.8513 GBP |
32 17/19p ordinary | CFD | reducing a long position | 355 | 5.8640 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,089 | 5.8640 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,254 | 5.8797 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,704 | 5.8840 GBP |
32 17/19p ordinary | CFD | reducing a long position | 10,243 | 5.8935 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,400 | 5.7453 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,729 | 5.7494 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,377 | 5.7503 GBP |
32 17/19p ordinary | CFD | reducing a short position | 80,813 | 5.7631 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,408 | 5.7647 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,118 | 5.7669 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,717 | 5.7685 GBP |
32 17/19p ordinary | CFD | reducing a short position | 46 | 5.7715 GBP |
32 17/19p ordinary | CFD | reducing a short position | 254 | 5.8015 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,500 | 5.8140 GBP |
32 17/19p ordinary | CFD | reducing a short position | 85 | 5.8179 GBP |
32 17/19p ordinary | CFD | reducing a short position | 700 | 5.8197 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,723 | 5.8222 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,330 | 5.8696 GBP |
32 17/19p ordinary | CFD | reducing a short position | 467 | 5.8743 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: | 14 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