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: | 23 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 | SALES | 5,411,504 | 4.6243 GBP | 4.5542 GBP |
| 32 17/19p ordinary | PURCHASES | 7,995,470 | 4.6244 GBP | 4.5480 GBP |
| 32 17/19p ordinary | PURCHASES | 15,782 | 5.5652 EUR | 5.5652 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 | 157,831 | 4.5591 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 42,489 | 4.5591 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 106,142 | 4.5713 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 97,402 | 4.5713 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 4,632 | 4.5832 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 23,933 | 4.5832 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 76,318 | 4.5832 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 11,002 | 4.5832 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 73,344 | 4.5832 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 9,651 | 4.5832 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 5,790 | 4.5832 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 4,632 | 4.5842 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 5,790 | 4.5847 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 11,002 | 4.5847 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 9,651 | 4.5847 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 860,100 | 4.5861 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 105,025 | 4.5985 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,078 | 4.6022 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 281 | 4.6030 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 4,169 | 4.6051 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 36,301 | 4.6058 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 548,864 | 4.6071 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 40,522 | 4.6073 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 2,088 | 4.6100 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 92 | 4.6117 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 923 | 4.6123 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 35 | 4.6173 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 38,727 | 4.6186 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 4,470 | 4.6228 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 517 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | increasing a long position | 94 | 4.6241 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 128 | 4.5539 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 391 | 4.5540 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 684 | 4.5675 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 223 | 4.5675 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 3,630 | 4.5697 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 8,890 | 4.5711 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,808 | 4.5732 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,182 | 4.5807 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 17,135 | 4.5857 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 11,589 | 4.5881 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 19,069 | 4.5940 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 477 | 4.5943 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 31,720 | 4.5978 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 25,600 | 4.5993 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,200 | 4.5997 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 658 | 4.6003 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 5,598 | 4.6028 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 3,248 | 4.6045 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 6,438 | 4.6057 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 740 | 4.6101 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 53 | 4.6102 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 2,311 | 4.6103 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 18,761 | 4.6103 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 15,842 | 4.6117 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 11,302 | 4.6118 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 7,377 | 4.6121 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,579 | 4.6122 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 125,000 | 4.6127 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 4,433 | 4.6140 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 193 | 4.6151 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 632 | 4.6151 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 15,782 | 4.6209 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 111,848 | 4.6231 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 8,195 | 4.6232 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,085 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 91 | 4.6241 GBP |
| 32 17/19p ordinary | CFD | increasing a short position | 1,500 | 4.6244 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 2,139 | 4.5971 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 6,247 | 4.6003 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 39,265 | 4.6012 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 7,168 | 4.6021 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 34,987 | 4.6036 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 482,876 | 4.6036 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 3,203 | 4.6036 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 73,205 | 4.6036 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 5,696 | 4.6036 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 52,460 | 4.6036 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 5,117 | 4.6055 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 2,644 | 4.6059 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 17,504 | 4.6093 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 20,654 | 4.6093 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 7,343 | 4.6200 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 92 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 689,766 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 281 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 9 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a long position | 331 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 3,630 | 4.5714 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 4,182 | 4.5795 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 15,194 | 4.6009 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 458,720 | 4.6014 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 8,817 | 4.6018 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 2,777 | 4.6030 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 14,855 | 4.6046 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 115,829 | 4.6057 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 21,060 | 4.6067 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 36,225 | 4.6084 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 11,823 | 4.6084 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 6,794 | 4.6094 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 17,348 | 4.6099 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 18,512 | 4.6099 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 9,044 | 4.6117 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 1,972 | 4.6117 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 15,942 | 4.6120 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 471 | 4.6125 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 68,296 | 4.6130 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 6,967 | 4.6134 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 82,894 | 4.6143 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 9,887 | 4.6174 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 324,523 | 4.6202 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 6,595 | 4.6237 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 26,382 | 4.6238 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 3,950 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 27,192 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 19,727 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 29,449 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 4,592 | 4.6240 GBP |
| 32 17/19p ordinary | CFD | reducing a short position | 466 | 4.6240 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: | 27 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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