24th Mar 2025 14:06
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: | 20 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 | PURCHASES | 5,231,777 | 5.6460 GBP | 5.5380 GBP |
32 17/19p ordinary | SALES | 3,435,168 | 5.6500 GBP | 5.5360 GBP |
32 17/19p ordinary | SALES | 13,627 | 6.6780 EUR | 6.6780 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 | 62 | 5.5620 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,663 | 5.5676 GBP |
32 17/19p ordinary | CFD | increasing a long position | 52,225 | 5.5722 GBP |
32 17/19p ordinary | CFD | increasing a long position | 297 | 5.5722 GBP |
32 17/19p ordinary | CFD | increasing a long position | 5,700 | 5.5722 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,800 | 5.5722 GBP |
32 17/19p ordinary | CFD | increasing a long position | 700 | 5.5722 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,900 | 5.5722 GBP |
32 17/19p ordinary | CFD | increasing a long position | 17,163 | 5.5732 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,534 | 5.5737 GBP |
32 17/19p ordinary | CFD | increasing a long position | 134,043 | 5.5758 GBP |
32 17/19p ordinary | CFD | increasing a long position | 15,165 | 5.5760 GBP |
32 17/19p ordinary | CFD | increasing a long position | 48,037 | 5.5844 GBP |
32 17/19p ordinary | CFD | increasing a long position | 26,652 | 5.5852 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,104 | 5.5858 GBP |
32 17/19p ordinary | CFD | increasing a long position | 617 | 5.5869 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,095 | 5.5869 GBP |
32 17/19p ordinary | CFD | increasing a long position | 514 | 5.5869 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,098 | 5.5869 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,205 | 5.5871 GBP |
32 17/19p ordinary | CFD | increasing a long position | 7,274 | 5.5880 GBP |
32 17/19p ordinary | CFD | increasing a long position | 153,858 | 5.5880 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,220 | 5.5885 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,627 | 5.5887 GBP |
32 17/19p ordinary | CFD | increasing a long position | 40,000 | 5.5898 GBP |
32 17/19p ordinary | CFD | increasing a long position | 6,480 | 5.5907 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9 | 5.5909 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,335 | 5.5918 GBP |
32 17/19p ordinary | CFD | increasing a long position | 10,484 | 5.5941 GBP |
32 17/19p ordinary | CFD | increasing a long position | 15,723 | 5.6048 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,508 | 5.6112 GBP |
32 17/19p ordinary | CFD | increasing a long position | 315 | 5.6439 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,742 | 5.6440 GBP |
32 17/19p ordinary | CFD | increasing a short position | 24,988 | 5.5718 GBP |
32 17/19p ordinary | CFD | increasing a short position | 16,722 | 5.5724 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,290 | 5.5813 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,886 | 5.5826 GBP |
32 17/19p ordinary | CFD | increasing a short position | 395 | 5.5827 GBP |
32 17/19p ordinary | CFD | increasing a short position | 78 | 5.5879 GBP |
32 17/19p ordinary | CFD | increasing a short position | 7,872 | 5.5880 GBP |
32 17/19p ordinary | CFD | increasing a short position | 34 | 5.5880 GBP |
32 17/19p ordinary | CFD | increasing a short position | 215 | 5.5880 GBP |
32 17/19p ordinary | CFD | increasing a short position | 201 | 5.5886 GBP |
32 17/19p ordinary | CFD | increasing a short position | 59,400 | 5.5888 GBP |
32 17/19p ordinary | CFD | increasing a short position | 11,592 | 5.5898 GBP |
32 17/19p ordinary | CFD | increasing a short position | 9,568 | 5.5913 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,518 | 5.5916 GBP |
32 17/19p ordinary | CFD | increasing a short position | 602 | 5.5922 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,170 | 5.5697 GBP |
32 17/19p ordinary | CFD | reducing a long position | 636 | 5.5761 GBP |
32 17/19p ordinary | CFD | reducing a long position | 69,477 | 5.5826 GBP |
32 17/19p ordinary | CFD | reducing a long position | 130 | 5.5827 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,508 | 5.5870 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,205 | 5.5880 GBP |
32 17/19p ordinary | CFD | reducing a long position | 5,107 | 5.5880 GBP |
32 17/19p ordinary | CFD | reducing a long position | 9,902 | 5.5880 GBP |
32 17/19p ordinary | CFD | reducing a long position | 28,975 | 5.5880 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,742 | 5.5880 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1 | 5.5880 GBP |
32 17/19p ordinary | CFD | reducing a long position | 165 | 5.5881 GBP |
32 17/19p ordinary | CFD | reducing a long position | 2,350 | 5.5893 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,132 | 5.5897 GBP |
32 17/19p ordinary | CFD | reducing a long position | 330,767 | 5.5900 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,351 | 5.5909 GBP |
32 17/19p ordinary | CFD | reducing a long position | 6,810 | 5.5913 GBP |
32 17/19p ordinary | CFD | reducing a long position | 7,727 | 5.5939 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,038 | 5.5992 GBP |
32 17/19p ordinary | CFD | reducing a long position | 101 | 5.6016 GBP |
32 17/19p ordinary | CFD | reducing a long position | 315 | 5.6365 GBP |
32 17/19p ordinary | CFD | reducing a short position | 730 | 5.5508 GBP |
32 17/19p ordinary | CFD | reducing a short position | 14,579 | 5.5619 GBP |
32 17/19p ordinary | CFD | reducing a short position | 90,074 | 5.5689 GBP |
32 17/19p ordinary | CFD | reducing a short position | 170,020 | 5.5836 GBP |
32 17/19p ordinary | CFD | reducing a short position | 93,300 | 5.5856 GBP |
32 17/19p ordinary | CFD | reducing a short position | 276,900 | 5.5856 GBP |
32 17/19p ordinary | CFD | reducing a short position | 80,200 | 5.5856 GBP |
32 17/19p ordinary | CFD | reducing a short position | 700 | 5.5856 GBP |
32 17/19p ordinary | CFD | reducing a short position | 8,700 | 5.5856 GBP |
32 17/19p ordinary | CFD | reducing a short position | 39,500 | 5.5856 GBP |
32 17/19p ordinary | CFD | reducing a short position | 17 | 5.5859 GBP |
32 17/19p ordinary | CFD | reducing a short position | 300 | 5.5869 GBP |
32 17/19p ordinary | CFD | reducing a short position | 621 | 5.5876 GBP |
32 17/19p ordinary | CFD | reducing a short position | 90,854 | 5.5876 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,426 | 5.5876 GBP |
32 17/19p ordinary | CFD | reducing a short position | 124,773 | 5.5879 GBP |
32 17/19p ordinary | CFD | reducing a short position | 52,900 | 5.5884 GBP |
32 17/19p ordinary | CFD | reducing a short position | 121,689 | 5.5888 GBP |
32 17/19p ordinary | CFD | reducing a short position | 11,583 | 5.5889 GBP |
32 17/19p ordinary | CFD | reducing a short position | 39,267 | 5.5890 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,625 | 5.5890 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,329 | 5.5904 GBP |
32 17/19p ordinary | CFD | reducing a short position | 30 | 5.5917 GBP |
32 17/19p ordinary | CFD | reducing a short position | 25,248 | 5.5918 GBP |
32 17/19p ordinary | CFD | reducing a short position | 2,461 | 5.5920 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,480 | 5.5920 GBP |
32 17/19p ordinary | CFD | reducing a short position | 157 | 5.5923 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,267 | 5.5923 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,169 | 5.5923 GBP |
32 17/19p ordinary | CFD | reducing a short position | 66 | 5.5924 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7 | 5.5932 GBP |
32 17/19p ordinary | CFD | reducing a short position | 55,372 | 5.5947 GBP |
32 17/19p ordinary | CFD | reducing a short position | 63,572 | 5.5950 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,974 | 5.5954 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,368 | 5.5960 GBP |
32 17/19p ordinary | CFD | reducing a short position | 7,174 | 5.5962 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,886 | 5.6048 GBP |
32 17/19p ordinary | CFD | reducing a short position | 988 | 5.6137 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: | 24 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