RNS Number : 5183D
Morgan Stanley & Co. Int'l plc
03 April 2025
 

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:

02 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

PURCHASES

669,462

2.8440 GBP

2.8060 GBP

10 10/11p ordinary

SALES

621,705

2.8441 GBP

2.8080 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

48,311

2.8056 GBP

10 10/11p ordinary

CFD

increasing a short position

17,326

2.8089 GBP

10 10/11p ordinary

CFD

increasing a short position

91,142

2.8089 GBP

10 10/11p ordinary

CFD

increasing a short position

10,254

2.8089 GBP

10 10/11p ordinary

CFD

increasing a short position

1,204

2.8089 GBP

10 10/11p ordinary

CFD

increasing a short position

13,384

2.8089 GBP

10 10/11p ordinary

CFD

increasing a short position

5,257

2.8094 GBP

10 10/11p ordinary

CFD

increasing a short position

16,286

2.8124 GBP

10 10/11p ordinary

CFD

increasing a short position

498

2.8124 GBP

10 10/11p ordinary

CFD

increasing a short position

3

2.8133 GBP

10 10/11p ordinary

CFD

increasing a short position

94

2.8143 GBP

10 10/11p ordinary

CFD

increasing a short position

1,746

2.8169 GBP

10 10/11p ordinary

CFD

increasing a short position

53

2.8170 GBP

10 10/11p ordinary

CFD

increasing a short position

12,333

2.8193 GBP

10 10/11p ordinary

CFD

increasing a short position

378

2.8193 GBP

10 10/11p ordinary

CFD

increasing a short position

7,820

2.8223 GBP

10 10/11p ordinary

CFD

increasing a short position

239

2.8223 GBP

10 10/11p ordinary

CFD

increasing a short position

193

2.8232 GBP

10 10/11p ordinary

CFD

increasing a short position

5

2.8240 GBP

10 10/11p ordinary

CFD

increasing a short position

3,867

2.8258 GBP

10 10/11p ordinary

CFD

increasing a short position

1,202

2.8280 GBP

10 10/11p ordinary

CFD

increasing a short position

17,023

2.8315 GBP

10 10/11p ordinary

CFD

increasing a short position

93

2.8345 GBP

10 10/11p ordinary

CFD

increasing a short position

2,465

2.8361 GBP

10 10/11p ordinary

CFD

increasing a short position

110,839

2.8436 GBP

10 10/11p ordinary

CFD

reducing a long position

803

2.8191 GBP

10 10/11p ordinary

CFD

reducing a long position

2,133

2.8248 GBP

10 10/11p ordinary

CFD

reducing a long position

22,660

2.8359 GBP

10 10/11p ordinary

CFD

reducing a long position

387

2.8440 GBP

10 10/11p ordinary

CFD

reducing a long position

8,787

2.8440 GBP

10 10/11p ordinary

CFD

reducing a long position

3,162

2.8440 GBP

10 10/11p ordinary

CFD

reducing a short position

59,133

2.8117 GBP

10 10/11p ordinary

CFD

reducing a short position

7,626

2.8183 GBP

10 10/11p ordinary

CFD

reducing a short position

2,743

2.8187 GBP

10 10/11p ordinary

CFD

reducing a short position

2,092

2.8231 GBP

10 10/11p ordinary

CFD

reducing a short position

796

2.8240 GBP

10 10/11p ordinary

CFD

reducing a short position

314

2.8242 GBP

10 10/11p ordinary

CFD

reducing a short position

19,757

2.8289 GBP

10 10/11p ordinary

CFD

reducing a short position

82,949

2.8356 GBP

10 10/11p ordinary

CFD

reducing a short position

5,433

2.8369 GBP

10 10/11p ordinary

CFD

reducing a short position

4,188

2.8440 GBP

10 10/11p ordinary

CFD

reducing a short position

57

2.8440 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:

03 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.

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