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: | (GS) GOLDMAN SACHS INTERNATIONAL |
| (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: | AVIVA PLC |
| (d) Date dealing undertaken: | 15 January 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 the offer? If it is a cash offer or possible cash offer, state "N/A" | YES - disclosing today for 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 | 1,939,193 | 4.8587 GBP | 4.7260 GBP |
| 32 17/19p ordinary | Sales | 1,606,610 | 4.8580 GBP | 4.7260 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 |
| 32 17/19p ordinary | CFD | Reducing a short position | 99 | 4.6870 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 99 | 4.6870 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 616 | 4.7256 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 265 | 4.7260 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 416 | 4.7266 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1 | 4.7500 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 63 | 4.7587 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 58 | 4.7602 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 6,637 | 4.7607 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 3,100 | 4.7664 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,923 | 4.7671 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 416 | 4.7681 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 486 | 4.7726 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 561 | 4.7730 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 794 | 4.7730 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 8,521 | 4.7732 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 176 | 4.7738 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 45,872 | 4.7752 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 19,395 | 4.7756 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 10,847 | 4.7758 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 10,751 | 4.7758 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,312 | 4.7760 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 115 | 4.7765 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 10,600 | 4.7766 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 88 | 4.7766 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 16 | 4.7766 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 7,014 | 4.7807 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,988 | 4.7808 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 3,069 | 4.7828 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 14,723 | 4.7837 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 14,297 | 4.7837 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 10,007 | 4.7902 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 23,454 | 4.7908 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 12,182 | 4.7908 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 12,252 | 4.7913 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,778 | 4.7956 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 17,025 | 4.7958 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 13,965 | 4.7961 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,912 | 4.7969 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 838 | 4.7970 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,981 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,531 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,713 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 59,963 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 3,807 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 36,888 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 30,196 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,799 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 5,332 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 8,499 | 4.8000 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 13,276 | 4.8002 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 3,929 | 4.8003 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 4,501 | 4.8004 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,022 | 4.8060 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 18,044 | 4.8062 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 31,721 | 4.8067 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 169,164 | 4.8107 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 26,823 | 4.8107 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 13,699 | 4.8152 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 9,804 | 4.8156 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 231 | 4.8161 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 76 | 4.8171 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 62 | 4.8171 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 20 | 4.8171 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 52 | 4.8171 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 865 | 4.8171 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 3,676 | 4.8171 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 865 | 4.8245 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 571 | 4.8245 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 579 | 4.8251 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 3 | 4.8269 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,924 | 4.8279 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,283 | 4.8280 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 70 | 4.8299 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 4,208 | 4.8314 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,123 | 4.8325 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 33,476 | 4.8326 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 5,809 | 4.8326 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 31,331 | 4.8331 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 53,900 | 4.8332 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 1,777 | 4.8352 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 3 | 4.8433 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 250 | 4.8453 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,049 | 4.8464 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,156 | 4.8469 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 18,044 | 4.8472 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 52 | 4.8479 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 6,295 | 4.8480 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 928 | 4.8482 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 137,000 | 4.8482 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 54 | 4.8485 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 44 | 4.8485 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 14 | 4.8485 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 148 | 4.8485 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 36 | 4.8485 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 77,604 | 4.8550 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 13,467 | 4.8555 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 16,269 | 4.8556 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 8,850 | 4.8575 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 3,884 | 4.8575 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 64,100 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 7,487 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 12,477 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 139,438 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 3,676 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 24,088 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 238 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 139,438 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 24,088 | 4.8580 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 5,202 | 4.8581 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 2,902 | 4.8587 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 |
| | | | | | | | |
(ii) Exercise
| Class of relevant security | Product description e.g. call option | Exercising / exercised against | Number of securities | Exercise price per unit |
| | | | | |
(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) |
| |
| | |
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: | 16 January 2025 |
Contact name: | Papa Lette and Andrzej Szyszka |
Telephone number: | +33(1) 4212 1459 / +48(22) 317 4817 |
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 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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