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: | 22 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 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 | 3,097,129 | 5.1360 GBP | 4.9698 GBP |
32 17/19p ordinary | SALES | 5,011,372 | 5.1394 GBP | 4.9770 GBP |
32 17/19p ordinary | SALES | 124,698 | 6.0414 EUR | 6.0414 EUR |
32 17/19p ordinary | PURCHASES | 67,336 | 6.0463 EUR | 6.0463 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 | 282 | 4.9700 GBP |
32 17/19p ordinary | CFD | increasing a long position | 862 | 4.9700 GBP |
32 17/19p ordinary | CFD | increasing a long position | 10,448 | 5.0128 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,120 | 5.0190 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,632 | 5.0190 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,266 | 5.0190 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,881 | 5.0190 GBP |
32 17/19p ordinary | CFD | increasing a long position | 8,081 | 5.0190 GBP |
32 17/19p ordinary | CFD | increasing a long position | 15,597 | 5.0190 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,811 | 5.0190 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,447 | 5.0410 GBP |
32 17/19p ordinary | CFD | increasing a long position | 60,920 | 5.0999 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,488 | 5.0999 GBP |
32 17/19p ordinary | CFD | increasing a long position | 43,213 | 5.1041 GBP |
32 17/19p ordinary | CFD | increasing a long position | 14,126 | 5.1041 GBP |
32 17/19p ordinary | CFD | increasing a long position | 69,767 | 5.1044 GBP |
32 17/19p ordinary | CFD | increasing a long position | 1,807 | 5.1047 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,322 | 5.1060 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,429 | 5.1089 GBP |
32 17/19p ordinary | CFD | increasing a long position | 124,698 | 5.1091 GBP |
32 17/19p ordinary | CFD | increasing a long position | 80,726 | 5.1101 GBP |
32 17/19p ordinary | CFD | increasing a long position | 4,221 | 5.1104 GBP |
32 17/19p ordinary | CFD | increasing a long position | 40,650 | 5.1111 GBP |
32 17/19p ordinary | CFD | increasing a long position | 19,312 | 5.1117 GBP |
32 17/19p ordinary | CFD | increasing a long position | 62,814 | 5.1118 GBP |
32 17/19p ordinary | CFD | increasing a long position | 609,328 | 5.1119 GBP |
32 17/19p ordinary | CFD | increasing a long position | 196 | 5.1120 GBP |
32 17/19p ordinary | CFD | increasing a long position | 12,235 | 5.1149 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,597 | 5.1173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,634 | 5.1173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 11,579 | 5.1173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 27,053 | 5.1173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 3,247 | 5.1173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 16,667 | 5.1173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 22,349 | 5.1173 GBP |
32 17/19p ordinary | CFD | increasing a long position | 232,741 | 5.1206 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,716 | 5.1269 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,683 | 5.1269 GBP |
32 17/19p ordinary | CFD | increasing a long position | 9,729 | 5.1269 GBP |
32 17/19p ordinary | CFD | increasing a long position | 22,623 | 5.1269 GBP |
32 17/19p ordinary | CFD | increasing a long position | 18,690 | 5.1269 GBP |
32 17/19p ordinary | CFD | increasing a long position | 13,938 | 5.1269 GBP |
32 17/19p ordinary | CFD | increasing a long position | 2,173 | 5.1269 GBP |
32 17/19p ordinary | CFD | increasing a long position | 433 | 5.1280 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,385 | 4.9765 GBP |
32 17/19p ordinary | CFD | increasing a short position | 5,250 | 4.9830 GBP |
32 17/19p ordinary | CFD | increasing a short position | 30,000 | 4.9907 GBP |
32 17/19p ordinary | CFD | increasing a short position | 4,491 | 5.0193 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,337 | 5.1031 GBP |
32 17/19p ordinary | CFD | increasing a short position | 719 | 5.1041 GBP |
32 17/19p ordinary | CFD | increasing a short position | 379 | 5.1048 GBP |
32 17/19p ordinary | CFD | increasing a short position | 9,861 | 5.1056 GBP |
32 17/19p ordinary | CFD | increasing a short position | 11,405 | 5.1078 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,360 | 5.1078 GBP |
32 17/19p ordinary | CFD | increasing a short position | 8,730 | 5.1083 GBP |
32 17/19p ordinary | CFD | increasing a short position | 19,985 | 5.1083 GBP |
32 17/19p ordinary | CFD | increasing a short position | 122,406 | 5.1084 GBP |
32 17/19p ordinary | CFD | increasing a short position | 1,365 | 5.1094 GBP |
32 17/19p ordinary | CFD | increasing a short position | 162,499 | 5.1104 GBP |
32 17/19p ordinary | CFD | increasing a short position | 5,132 | 5.1114 GBP |
32 17/19p ordinary | CFD | increasing a short position | 14,454 | 5.1120 GBP |
32 17/19p ordinary | CFD | increasing a short position | 77,301 | 5.1120 GBP |
32 17/19p ordinary | CFD | increasing a short position | 405 | 5.1128 GBP |
32 17/19p ordinary | CFD | increasing a short position | 23,784 | 5.1129 GBP |
32 17/19p ordinary | CFD | increasing a short position | 45,207 | 5.1142 GBP |
32 17/19p ordinary | CFD | increasing a short position | 6,483 | 5.1181 GBP |
32 17/19p ordinary | CFD | increasing a short position | 8,300 | 5.1191 GBP |
32 17/19p ordinary | CFD | increasing a short position | 3,100 | 5.1191 GBP |
32 17/19p ordinary | CFD | increasing a short position | 285 | 5.1204 GBP |
32 17/19p ordinary | CFD | increasing a short position | 228 | 5.1204 GBP |
32 17/19p ordinary | CFD | reducing a long position | 3,447 | 5.0410 GBP |
32 17/19p ordinary | CFD | reducing a long position | 10,448 | 5.0885 GBP |
32 17/19p ordinary | CFD | reducing a long position | 57 | 5.1011 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,807 | 5.1048 GBP |
32 17/19p ordinary | CFD | reducing a long position | 17,698 | 5.1085 GBP |
32 17/19p ordinary | CFD | reducing a long position | 725 | 5.1094 GBP |
32 17/19p ordinary | CFD | reducing a long position | 46 | 5.1106 GBP |
32 17/19p ordinary | CFD | reducing a long position | 12,741 | 5.1106 GBP |
32 17/19p ordinary | CFD | reducing a long position | 4,165 | 5.1106 GBP |
32 17/19p ordinary | CFD | reducing a long position | 433 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a long position | 14,557 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a long position | 521 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,171 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a long position | 1,858 | 5.1138 GBP |
32 17/19p ordinary | CFD | reducing a long position | 196 | 5.1160 GBP |
32 17/19p ordinary | CFD | reducing a short position | 707 | 5.0084 GBP |
32 17/19p ordinary | CFD | reducing a short position | 30,000 | 5.0110 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,250 | 5.0300 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,784 | 5.0666 GBP |
32 17/19p ordinary | CFD | reducing a short position | 170,969 | 5.0835 GBP |
32 17/19p ordinary | CFD | reducing a short position | 186,697 | 5.0870 GBP |
32 17/19p ordinary | CFD | reducing a short position | 12,795 | 5.0987 GBP |
32 17/19p ordinary | CFD | reducing a short position | 181,808 | 5.1044 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,299 | 5.1047 GBP |
32 17/19p ordinary | CFD | reducing a short position | 6,107 | 5.1047 GBP |
32 17/19p ordinary | CFD | reducing a short position | 65,415 | 5.1053 GBP |
32 17/19p ordinary | CFD | reducing a short position | 236 | 5.1060 GBP |
32 17/19p ordinary | CFD | reducing a short position | 379 | 5.1060 GBP |
32 17/19p ordinary | CFD | reducing a short position | 306,074 | 5.1066 GBP |
32 17/19p ordinary | CFD | reducing a short position | 21,243 | 5.1084 GBP |
32 17/19p ordinary | CFD | reducing a short position | 234,635 | 5.1093 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,407 | 5.1094 GBP |
32 17/19p ordinary | CFD | reducing a short position | 3,200 | 5.1095 GBP |
32 17/19p ordinary | CFD | reducing a short position | 1,100 | 5.1095 GBP |
32 17/19p ordinary | CFD | reducing a short position | 27,185 | 5.1112 GBP |
32 17/19p ordinary | CFD | reducing a short position | 719 | 5.1118 GBP |
32 17/19p ordinary | CFD | reducing a short position | 17,795 | 5.1119 GBP |
32 17/19p ordinary | CFD | reducing a short position | 225 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a short position | 5,429 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a short position | 4,385 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a short position | 83,784 | 5.1120 GBP |
32 17/19p ordinary | CFD | reducing a short position | 42,368 | 5.1126 GBP |
32 17/19p ordinary | CFD | reducing a short position | 52 | 5.1133 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 January 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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