9th Apr 2025 15:26
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 | Direct Line Insurance Group 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: | 07 April 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 - Aviva 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 |
10 10/11p ordinary | SALES | 2,083,871 | 2.6560 GBP | 2.5500 GBP |
10 10/11p ordinary | PURCHASES | 4,118,991 | 2.6780 GBP | 2.5443 GBP |
(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 |
10 10/11p ordinary | CFD | increasing a long position | 7,133 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a long position | 2,738 | 2.5817 GBP |
10 10/11p ordinary | CFD | increasing a long position | 17,129 | 2.5836 GBP |
10 10/11p ordinary | CFD | increasing a long position | 69,278 | 2.5914 GBP |
10 10/11p ordinary | CFD | increasing a short position | 846 | 2.5502 GBP |
10 10/11p ordinary | CFD | increasing a short position | 16,076 | 2.5502 GBP |
10 10/11p ordinary | CFD | increasing a short position | 2,242 | 2.5602 GBP |
10 10/11p ordinary | CFD | increasing a short position | 156 | 2.5602 GBP |
10 10/11p ordinary | CFD | increasing a short position | 1,732 | 2.5602 GBP |
10 10/11p ordinary | CFD | increasing a short position | 11,794 | 2.5602 GBP |
10 10/11p ordinary | CFD | increasing a short position | 1,328 | 2.5602 GBP |
10 10/11p ordinary | CFD | increasing a short position | 1,265 | 2.5606 GBP |
10 10/11p ordinary | CFD | increasing a short position | 2,424 | 2.5640 GBP |
10 10/11p ordinary | CFD | increasing a short position | 538 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a short position | 27,093 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a short position | 41,114 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a short position | 375 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a short position | 103 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a short position | 23,505 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a short position | 26,527 | 2.5660 GBP |
10 10/11p ordinary | CFD | increasing a short position | 487 | 2.5661 GBP |
10 10/11p ordinary | CFD | increasing a short position | 54,222 | 2.5670 GBP |
10 10/11p ordinary | CFD | increasing a short position | 61,405 | 2.5674 GBP |
10 10/11p ordinary | CFD | increasing a short position | 36,285 | 2.5674 GBP |
10 10/11p ordinary | CFD | increasing a short position | 94,900 | 2.5674 GBP |
10 10/11p ordinary | CFD | increasing a short position | 27,912 | 2.5674 GBP |
10 10/11p ordinary | CFD | increasing a short position | 5,582 | 2.5675 GBP |
10 10/11p ordinary | CFD | increasing a short position | 5,582 | 2.5675 GBP |
10 10/11p ordinary | CFD | increasing a short position | 69,305 | 2.5681 GBP |
10 10/11p ordinary | CFD | increasing a short position | 4,814 | 2.5681 GBP |
10 10/11p ordinary | CFD | increasing a short position | 53,534 | 2.5681 GBP |
10 10/11p ordinary | CFD | increasing a short position | 364,569 | 2.5681 GBP |
10 10/11p ordinary | CFD | increasing a short position | 41,016 | 2.5681 GBP |
10 10/11p ordinary | CFD | increasing a short position | 300 | 2.5704 GBP |
10 10/11p ordinary | CFD | increasing a short position | 1,050 | 2.5726 GBP |
10 10/11p ordinary | CFD | increasing a short position | 443 | 2.5761 GBP |
10 10/11p ordinary | CFD | increasing a short position | 2,054 | 2.5761 GBP |
10 10/11p ordinary | CFD | increasing a short position | 2,906 | 2.5761 GBP |
10 10/11p ordinary | CFD | increasing a short position | 545 | 2.5761 GBP |
10 10/11p ordinary | CFD | increasing a short position | 670 | 2.5761 GBP |
10 10/11p ordinary | CFD | increasing a short position | 13,206 | 2.5782 GBP |
10 10/11p ordinary | CFD | increasing a short position | 1,102 | 2.5788 GBP |
10 10/11p ordinary | CFD | increasing a short position | 57,751 | 2.5797 GBP |
10 10/11p ordinary | CFD | increasing a short position | 585 | 2.5806 GBP |
10 10/11p ordinary | CFD | increasing a short position | 3,273 | 2.5825 GBP |
10 10/11p ordinary | CFD | increasing a short position | 1,871 | 2.5825 GBP |
10 10/11p ordinary | CFD | increasing a short position | 2,111 | 2.5825 GBP |
10 10/11p ordinary | CFD | increasing a short position | 38 | 2.5826 GBP |
10 10/11p ordinary | CFD | increasing a short position | 165,000 | 2.5833 GBP |
10 10/11p ordinary | CFD | increasing a short position | 140,317 | 2.5850 GBP |
10 10/11p ordinary | CFD | increasing a short position | 265 | 2.5860 GBP |
10 10/11p ordinary | CFD | increasing a short position | 12,616 | 2.5864 GBP |
10 10/11p ordinary | CFD | increasing a short position | 12,006 | 2.5875 GBP |
10 10/11p ordinary | CFD | increasing a short position | 13,549 | 2.5875 GBP |
10 10/11p ordinary | CFD | increasing a short position | 53,534 | 2.5880 GBP |
10 10/11p ordinary | CFD | increasing a short position | 4,814 | 2.5880 GBP |
10 10/11p ordinary | CFD | increasing a short position | 364,568 | 2.5880 GBP |
10 10/11p ordinary | CFD | increasing a short position | 41,016 | 2.5880 GBP |
10 10/11p ordinary | CFD | increasing a short position | 69,305 | 2.5880 GBP |
10 10/11p ordinary | CFD | increasing a short position | 33,503 | 2.5888 GBP |
10 10/11p ordinary | CFD | increasing a short position | 17,940 | 2.5899 GBP |
10 10/11p ordinary | CFD | increasing a short position | 3 | 2.5900 GBP |
10 10/11p ordinary | CFD | increasing a short position | 21,833 | 2.5902 GBP |
10 10/11p ordinary | CFD | increasing a short position | 24,641 | 2.5902 GBP |
10 10/11p ordinary | CFD | increasing a short position | 68 | 2.5910 GBP |
10 10/11p ordinary | CFD | increasing a short position | 76 | 2.5911 GBP |
10 10/11p ordinary | CFD | increasing a short position | 118 | 2.5911 GBP |
10 10/11p ordinary | CFD | increasing a short position | 9,824 | 2.5934 GBP |
10 10/11p ordinary | CFD | increasing a short position | 8,705 | 2.5934 GBP |
10 10/11p ordinary | CFD | increasing a short position | 1,506 | 2.5935 GBP |
10 10/11p ordinary | CFD | increasing a short position | 17 | 2.5935 GBP |
10 10/11p ordinary | CFD | increasing a short position | 860 | 2.5935 GBP |
10 10/11p ordinary | CFD | increasing a short position | 971 | 2.5935 GBP |
10 10/11p ordinary | CFD | increasing a short position | 344 | 2.5953 GBP |
10 10/11p ordinary | CFD | increasing a short position | 38,322 | 2.5955 GBP |
10 10/11p ordinary | CFD | increasing a short position | 4,682 | 2.5961 GBP |
10 10/11p ordinary | CFD | increasing a short position | 4,507 | 2.5979 GBP |
10 10/11p ordinary | CFD | increasing a short position | 15,193 | 2.5999 GBP |
10 10/11p ordinary | CFD | increasing a short position | 13,462 | 2.5999 GBP |
10 10/11p ordinary | CFD | increasing a short position | 25,044 | 2.6005 GBP |
10 10/11p ordinary | CFD | increasing a short position | 3,133 | 2.6011 GBP |
10 10/11p ordinary | CFD | increasing a short position | 3,535 | 2.6011 GBP |
10 10/11p ordinary | CFD | increasing a short position | 12,847 | 2.6048 GBP |
10 10/11p ordinary | CFD | increasing a short position | 14,499 | 2.6048 GBP |
10 10/11p ordinary | CFD | increasing a short position | 387 | 2.6051 GBP |
10 10/11p ordinary | CFD | increasing a short position | 31,873 | 2.6060 GBP |
10 10/11p ordinary | CFD | increasing a short position | 20,221 | 2.6066 GBP |
10 10/11p ordinary | CFD | increasing a short position | 17,917 | 2.6066 GBP |
10 10/11p ordinary | CFD | increasing a short position | 62 | 2.6412 GBP |
10 10/11p ordinary | CFD | reducing a long position | 582 | 2.5660 GBP |
10 10/11p ordinary | CFD | reducing a long position | 1,746 | 2.5865 GBP |
10 10/11p ordinary | CFD | reducing a long position | 1,242 | 2.5870 GBP |
10 10/11p ordinary | CFD | reducing a long position | 92,722 | 2.5880 GBP |
10 10/11p ordinary | CFD | reducing a long position | 93,128 | 2.5956 GBP |
10 10/11p ordinary | CFD | reducing a short position | 1,102 | 2.5505 GBP |
10 10/11p ordinary | CFD | reducing a short position | 998 | 2.5620 GBP |
10 10/11p ordinary | CFD | reducing a short position | 110,839 | 2.5660 GBP |
10 10/11p ordinary | CFD | reducing a short position | 62 | 2.5691 GBP |
10 10/11p ordinary | CFD | reducing a short position | 31,781 | 2.5748 GBP |
10 10/11p ordinary | CFD | reducing a short position | 4,497 | 2.5795 GBP |
10 10/11p ordinary | CFD | reducing a short position | 831 | 2.5817 GBP |
10 10/11p ordinary | CFD | reducing a short position | 64,018 | 2.5846 GBP |
10 10/11p ordinary | CFD | reducing a short position | 75,532 | 2.5926 GBP |
10 10/11p ordinary | CFD | reducing a short position | 9,248 | 2.5984 GBP |
10 10/11p ordinary | CFD | reducing a short position | 416 | 2.6060 GBP |
10 10/11p ordinary | CFD | reducing a short position | 89 | 2.6145 GBP |
10 10/11p ordinary | CFD | reducing a short position | 11,441 | 2.6266 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: | 09 April 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:
Direct Line