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: | 16 December 2024 |
| (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 | 2,062,213 | 4.7590 GBP | 4.6991 GBP |
| 32 17/19p ordinary | SALES | 2,390,028 | 4.7590 GBP | 4.6999 GBP |
| 32 17/19p ordinary | PURCHASES | 4,089 | 5.6833 EUR | 5.6833 EUR |
| 32 17/19p ordinary | PURCHASES | 9,630 | 5.9645 USD | 5.9645 USD |
| 32 17/19p ordinary | SALES | 9,630 | 5.9645 USD | 5.9645 USD |
(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 | 17,629 | 4.6999 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 1,318 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 3,767 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 59 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 8,687 | 4.7033 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 44 | 4.7123 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 13,311 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 390 | 4.7216 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 6,417 | 4.7257 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,689 | 4.7259 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 71,675 | 4.7326 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 4,785 | 4.7346 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 100,715 | 4.7359 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 5,489 | 4.7005 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 3,261 | 4.7017 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,089 | 4.7029 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 2,913 | 4.7048 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 10,224 | 4.7062 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 191 | 4.7070 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 62 | 4.7070 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 22,053 | 4.7087 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 32,700 | 4.7088 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,618 | 4.7108 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 35,153 | 4.7116 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,330 | 4.7116 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 8,978 | 4.7123 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 2,106 | 4.7136 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 22,596 | 4.7172 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 5,114 | 4.7186 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 15,126 | 4.7212 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,936 | 4.7212 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 454 | 4.7218 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,587 | 4.7239 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 22,732 | 4.7259 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 96,399 | 4.7272 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 600 | 4.7282 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 7,287 | 4.7300 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 912 | 4.7316 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 10,984 | 4.7356 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 5,643 | 4.7406 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 811 | 4.7453 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 398 | 4.7590 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 39 | 4.6999 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 1,629 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 5,817 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 6,036 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 538 | 4.7061 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 17,590 | 4.7141 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 1,438 | 4.7186 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 12,449 | 4.7272 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 6,417 | 4.7288 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 141,739 | 4.7350 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 2,642 | 4.7590 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 31,690 | 4.6999 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 398 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 2,474 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 25 | 4.7000 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 147,955 | 4.7027 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,038 | 4.7119 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,833 | 4.7119 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 973 | 4.7119 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 148,500 | 4.7129 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 337 | 4.7147 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 3,875 | 4.7172 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 352 | 4.7183 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 741 | 4.7191 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,376 | 4.7203 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 43,983 | 4.7251 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 22,995 | 4.7263 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 4,944 | 4.7314 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 16,883 | 4.7330 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,429 | 4.7336 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 4,589 | 4.7348 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 37,473 | 4.7384 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 147 | 4.7589 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 337 | 4.7590 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: | 18 December 2024 |
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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