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: | 19 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 | 2,031,563 | 4.6000 GBP | 4.5620 GBP |
| 32 17/19p ordinary | SALES | 3,059,185 | 4.6554 GBP | 4.5557 GBP |
| 32 17/19p ordinary | PURCHASES | 25,724 | 5.5453 EUR | 5.5453 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 | 6,600 | 4.5557 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 6,300 | 4.5557 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 900 | 4.5557 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 60,360 | 4.5557 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 492 | 4.5557 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 13,500 | 4.5557 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,819 | 4.5697 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,736 | 4.5742 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,349 | 4.5751 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 362,156 | 4.5751 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 4,200 | 4.5751 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 53,400 | 4.5751 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 39,300 | 4.5751 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 25,600 | 4.5751 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 10,123 | 4.5803 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,879 | 4.5819 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 164,493 | 4.5859 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 1,394 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 72 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 1,886,885 | 4.6000 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 300 | 4.6081 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 30,180 | 4.6081 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 196 | 4.6081 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 4,500 | 4.6081 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,100 | 4.6081 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 3,300 | 4.6081 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 17,900 | 4.6554 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 1,400 | 4.6554 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 784 | 4.6554 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 120,719 | 4.6554 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 8,500 | 4.6554 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 13,100 | 4.6554 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 35 | 4.5628 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 9,248 | 4.5684 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 17,900 | 4.5701 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 251 | 4.5708 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 754 | 4.5720 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 3,600 | 4.5722 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 83,730 | 4.5726 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 33,006 | 4.5726 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,642 | 4.5737 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 21,397 | 4.5737 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 40,219 | 4.5739 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 21,614 | 4.5739 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 13,126 | 4.5739 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 43,423 | 4.5742 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 5,241 | 4.5757 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 46,776 | 4.5758 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,787 | 4.5783 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 17,107 | 4.5788 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 7,905 | 4.5797 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 347 | 4.5798 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 2,810 | 4.5798 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 8 | 4.5799 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 18,854 | 4.5803 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 423 | 4.5824 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 254 | 4.5824 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 2,012 | 4.5831 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 25,724 | 4.5839 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 10 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,080 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 172 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,546 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,011 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 19,971 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 329 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 25,720 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 35,338 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 647 | 4.5869 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 638 | 4.6000 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 423 | 4.6000 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 14,791 | 4.5677 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 94 | 4.5693 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 2,736 | 4.5726 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 61,003 | 4.5726 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 1,243 | 4.5736 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 1,679 | 4.5739 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 84,989 | 4.5741 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 3,700 | 4.5751 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 12,235 | 4.5769 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 7,565 | 4.5769 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 4,090 | 4.5769 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 2,105 | 4.5769 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 36,542 | 4.5769 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 7,074 | 4.5783 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 5,996 | 4.5783 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 697 | 4.5824 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 2,828 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 4,655 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 10 | 4.5886 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 1,886,885 | 4.6000 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 1,418 | 4.6000 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 16,153 | 4.5721 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 251 | 4.5728 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 4,384 | 4.5741 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 86 | 4.5750 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 67,094 | 4.5760 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,642 | 4.5776 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 20,268 | 4.5779 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 19,600 | 4.5783 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 50,057 | 4.5790 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 31,078 | 4.5794 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 216,500 | 4.5806 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,239 | 4.5859 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,594 | 4.5859 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 638 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 19,971 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 12 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 42,254 | 4.5860 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 51 | 4.5951 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 730 | 4.6000 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 239 | 4.6000 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: | 23 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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