6th Mar 2025 16:24
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: | 04 March 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 | 4,260,643 | 5.4270 GBP | 5.3378 GBP |
32 17/19p ordinary | PURCHASES | 3,731,318 | 5.4594 GBP | 5.3377 GBP |
32 17/19p ordinary | PURCHASES | 6,051 | 6.4593 EUR | 6.4593 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 | 23,254 | 5.3378 GBP |
32 17/19p ordinary | CFD | increasing a long position | 752 | 5.3380 GBP |
32 17/19p ordinary | CFD | increasing a long position | 68,075 | 5.3380 GBP |
32 17/19p ordinary | CFD | increasing a long position | 115,747 | 5.3424 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,791 | 5.3464 GBP |
32 17/19p ordinary | CFD | increasing a long position | 34 | 5.3498 GBP |
32 17/19p ordinary | CFD | increasing a long position | 709 | 5.3596 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,750 | 5.3596 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,480 | 5.3596 GBP |
32 17/19p ordinary | CFD | increasing a long position | 10,086 | 5.3613 GBP |
32 17/19p ordinary | CFD | increasing a long position | 19,357 | 5.3629 GBP |
32 17/19p ordinary | CFD | increasing a long position | 37,842 | 5.3645 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,650 | 5.3700 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,589 | 5.3726 GBP |
32 17/19p ordinary | CFD | increasing a long position | 81,709 | 5.3763 GBP |
32 17/19p ordinary | CFD | increasing a long position | 35,133 | 5.3807 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,781 | 5.4046 GBP |
32 17/19p ordinary | CFD | increasing a short position | 71,633 | 5.3380 GBP |
32 17/19p ordinary | CFD | increasing a short position | 8,481 | 5.3380 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4 | 5.3415 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,347 | 5.3446 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,360 | 5.3446 GBP |
32 17/19p ordinary | CFD | increasing a short position | 95,634 | 5.3459 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,531 | 5.3479 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,839 | 5.3494 GBP |
32 17/19p ordinary | CFD | increasing a short position | 173,279 | 5.3495 GBP |
32 17/19p ordinary | CFD | increasing a short position | 8,890 | 5.3540 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,986 | 5.3546 GBP |
32 17/19p ordinary | CFD | increasing a short position | 43,118 | 5.3591 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,503 | 5.3606 GBP |
32 17/19p ordinary | CFD | increasing a short position | 11,677 | 5.3618 GBP |
32 17/19p ordinary | CFD | increasing a short position | 35,500 | 5.3618 GBP |
32 17/19p ordinary | CFD | increasing a short position | 93 | 5.3648 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,025 | 5.3657 GBP |
32 17/19p ordinary | CFD | increasing a short position | 23,240 | 5.3657 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,304 | 5.3657 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,974 | 5.3660 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,535 | 5.3693 GBP |
32 17/19p ordinary | CFD | increasing a short position | 50,263 | 5.3700 GBP |
32 17/19p ordinary | CFD | increasing a short position | 161,672 | 5.3727 GBP |
32 17/19p ordinary | CFD | increasing a short position | 20,612 | 5.3762 GBP |
32 17/19p ordinary | CFD | increasing a short position | 2,428 | 5.3762 GBP |
32 17/19p ordinary | CFD | increasing a short position | 833 | 5.3900 GBP |
32 17/19p ordinary | CFD | increasing a short position | 166 | 5.3901 GBP |
32 17/19p ordinary | CFD | increasing a short position | 21 | 5.3981 GBP |
32 17/19p ordinary | CFD | increasing a short position | 19 | 5.4051 GBP |
32 17/19p ordinary | CFD | increasing a short position | 36,259 | 5.4080 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,791 | 5.3380 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,164 | 5.3380 GBP |
32 17/19p ordinary | CFD | reducing a long position | 49,458 | 5.3396 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,881 | 5.3446 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,894 | 5.3459 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,051 | 5.3463 GBP |
32 17/19p ordinary | CFD | reducing a long position | 15,569 | 5.3489 GBP |
32 17/19p ordinary | CFD | reducing a long position | 52,543 | 5.3501 GBP |
32 17/19p ordinary | CFD | reducing a long position | 20,988 | 5.3599 GBP |
32 17/19p ordinary | CFD | reducing a long position | 8,698 | 5.3727 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,777 | 5.3851 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,335 | 5.3985 GBP |
32 17/19p ordinary | CFD | reducing a long position | 89,674 | 5.4021 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,119 | 5.4594 GBP |
32 17/19p ordinary | CFD | reducing a long position | 676 | 5.4594 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,685 | 5.4594 GBP |
32 17/19p ordinary | CFD | reducing a long position | 496 | 5.4594 GBP |
32 17/19p ordinary | CFD | reducing a long position | 26 | 5.4594 GBP |
32 17/19p ordinary | CFD | reducing a short position | 31,673 | 5.3379 GBP |
32 17/19p ordinary | CFD | reducing a short position | 94,261 | 5.3380 GBP |
32 17/19p ordinary | CFD | reducing a short position | 85,167 | 5.3382 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,190 | 5.3422 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,104 | 5.3467 GBP |
32 17/19p ordinary | CFD | reducing a short position | 25,532 | 5.3477 GBP |
32 17/19p ordinary | CFD | reducing a short position | 22,440 | 5.3483 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1 | 5.3500 GBP |
32 17/19p ordinary | CFD | reducing a short position | 49 | 5.3502 GBP |
32 17/19p ordinary | CFD | reducing a short position | 846 | 5.3504 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,331 | 5.3517 GBP |
32 17/19p ordinary | CFD | reducing a short position | 25 | 5.3532 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,720 | 5.3538 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,800 | 5.3566 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,600 | 5.3600 GBP |
32 17/19p ordinary | CFD | reducing a short position | 392 | 5.3602 GBP |
32 17/19p ordinary | CFD | reducing a short position | 14,223 | 5.3603 GBP |
32 17/19p ordinary | CFD | reducing a short position | 124 | 5.3631 GBP |
32 17/19p ordinary | CFD | reducing a short position | 18,380 | 5.3631 GBP |
32 17/19p ordinary | CFD | reducing a short position | 145 | 5.3631 GBP |
32 17/19p ordinary | CFD | reducing a short position | 21 | 5.3634 GBP |
32 17/19p ordinary | CFD | reducing a short position | 13,952 | 5.3634 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8,714 | 5.3650 GBP |
32 17/19p ordinary | CFD | reducing a short position | 113,468 | 5.3666 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,069 | 5.3695 GBP |
32 17/19p ordinary | CFD | reducing a short position | 197 | 5.3695 GBP |
32 17/19p ordinary | CFD | reducing a short position | 616 | 5.3695 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,650 | 5.3695 GBP |
32 17/19p ordinary | CFD | reducing a short position | 13,050 | 5.3704 GBP |
32 17/19p ordinary | CFD | reducing a short position | 83,049 | 5.3731 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,535 | 5.3733 GBP |
32 17/19p ordinary | CFD | reducing a short position | 173,279 | 5.3736 GBP |
32 17/19p ordinary | CFD | reducing a short position | 161,672 | 5.3807 GBP |
32 17/19p ordinary | CFD | reducing a short position | 26,547 | 5.3829 GBP |
32 17/19p ordinary | CFD | reducing a short position | 10,600 | 5.3910 GBP |
32 17/19p ordinary | CFD | reducing a short position | 74,200 | 5.3910 GBP |
32 17/19p ordinary | CFD | reducing a short position | 185 | 5.4042 GBP |
32 17/19p ordinary | CFD | reducing a short position | 11,465 | 5.4207 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: | 06 March 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