Source - LSE Regulatory
RNS Number : 7233A
Morgan Stanley & Co. Int'l plc
14 March 2025
 

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:

13 March 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

3,252,050

5.4560 GBP

5.3780 GBP

32 17/19p ordinary

SALES

4,200,250

5.4560 GBP

5.3780 GBP

32 17/19p ordinary

SALES

103,764

6.4805 EUR

6.4805 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

42,883

5.4347 GBP

32 17/19p ordinary

CFD

increasing a long position

773

5.4387 GBP

32 17/19p ordinary

CFD

increasing a long position

293

5.4387 GBP

32 17/19p ordinary

CFD

increasing a long position

2,926

5.4387 GBP

32 17/19p ordinary

CFD

increasing a long position

7,022

5.4387 GBP

32 17/19p ordinary

CFD

increasing a long position

21,504

5.4394 GBP

32 17/19p ordinary

CFD

increasing a long position

20,379

5.4395 GBP

32 17/19p ordinary

CFD

increasing a long position

1,124

5.4400 GBP

32 17/19p ordinary

CFD

increasing a long position

48,083

5.4400 GBP

32 17/19p ordinary

CFD

increasing a long position

45,133

5.4405 GBP

32 17/19p ordinary

CFD

increasing a long position

171,064

5.4407 GBP

32 17/19p ordinary

CFD

increasing a long position

1,200

5.4420 GBP

32 17/19p ordinary

CFD

increasing a long position

300

5.4420 GBP

32 17/19p ordinary

CFD

increasing a long position

1,567

5.4420 GBP

32 17/19p ordinary

CFD

increasing a long position

37,027

5.4420 GBP

32 17/19p ordinary

CFD

increasing a long position

60,651

5.4421 GBP

32 17/19p ordinary

CFD

increasing a long position

4,375

5.4421 GBP

32 17/19p ordinary

CFD

increasing a long position

20,703

5.4421 GBP

32 17/19p ordinary

CFD

increasing a long position

478

5.4430 GBP

32 17/19p ordinary

CFD

increasing a long position

18,003

5.4433 GBP

32 17/19p ordinary

CFD

increasing a long position

30,358

5.4436 GBP

32 17/19p ordinary

CFD

increasing a long position

10,672

5.4445 GBP

32 17/19p ordinary

CFD

increasing a long position

20,908

5.4459 GBP

32 17/19p ordinary

CFD

increasing a long position

73,799

5.4470 GBP

32 17/19p ordinary

CFD

increasing a long position

419

5.4489 GBP

32 17/19p ordinary

CFD

increasing a short position

5,479

5.3876 GBP

32 17/19p ordinary

CFD

increasing a short position

17,420

5.4008 GBP

32 17/19p ordinary

CFD

increasing a short position

3,326

5.4050 GBP

32 17/19p ordinary

CFD

increasing a short position

1,153

5.4272 GBP

32 17/19p ordinary

CFD

increasing a short position

1,190

5.4335 GBP

32 17/19p ordinary

CFD

increasing a short position

29,588

5.4343 GBP

32 17/19p ordinary

CFD

increasing a short position

25,216

5.4400 GBP

32 17/19p ordinary

CFD

increasing a short position

12,017

5.4400 GBP

32 17/19p ordinary

CFD

increasing a short position

377,181

5.4412 GBP

32 17/19p ordinary

CFD

increasing a short position

92,092

5.4422 GBP

32 17/19p ordinary

CFD

increasing a short position

23,910

5.4428 GBP

32 17/19p ordinary

CFD

increasing a short position

54,787

5.4473 GBP

32 17/19p ordinary

CFD

reducing a long position

36,854

5.4343 GBP

32 17/19p ordinary

CFD

reducing a long position

2,732

5.4396 GBP

32 17/19p ordinary

CFD

reducing a long position

59,614

5.4400 GBP

32 17/19p ordinary

CFD

reducing a long position

4,387

5.4454 GBP

32 17/19p ordinary

CFD

reducing a long position

1

5.4480 GBP

32 17/19p ordinary

CFD

reducing a short position

3,209

5.3780 GBP

32 17/19p ordinary

CFD

reducing a short position

5,479

5.3946 GBP

32 17/19p ordinary

CFD

reducing a short position

22

5.4002 GBP

32 17/19p ordinary

CFD

reducing a short position

401

5.4225 GBP

32 17/19p ordinary

CFD

reducing a short position

6

5.4233 GBP

32 17/19p ordinary

CFD

reducing a short position

498

5.4251 GBP

32 17/19p ordinary

CFD

reducing a short position

428

5.4251 GBP

32 17/19p ordinary

CFD

reducing a short position

496

5.4264 GBP

32 17/19p ordinary

CFD

reducing a short position

19,869

5.4338 GBP

32 17/19p ordinary

CFD

reducing a short position

6,538

5.4338 GBP

32 17/19p ordinary

CFD

reducing a short position

12,220

5.4377 GBP

32 17/19p ordinary

CFD

reducing a short position

13,910

5.4388 GBP

32 17/19p ordinary

CFD

reducing a short position

2,640

5.4388 GBP

32 17/19p ordinary

CFD

reducing a short position

114

5.4388 GBP

32 17/19p ordinary

CFD

reducing a short position

12

5.4388 GBP

32 17/19p ordinary

CFD

reducing a short position

46,580

5.4388 GBP

32 17/19p ordinary

CFD

reducing a short position

160

5.4388 GBP

32 17/19p ordinary

CFD

reducing a short position

3,686

5.4389 GBP

32 17/19p ordinary

CFD

reducing a short position

31,297

5.4389 GBP

32 17/19p ordinary

CFD

reducing a short position

395

5.4395 GBP

32 17/19p ordinary

CFD

reducing a short position

22,753

5.4396 GBP

32 17/19p ordinary

CFD

reducing a short position

83,739

5.4398 GBP

32 17/19p ordinary

CFD

reducing a short position

18,595

5.4398 GBP

32 17/19p ordinary

CFD

reducing a short position

23,941

5.4399 GBP

32 17/19p ordinary

CFD

reducing a short position

29,603

5.4400 GBP

32 17/19p ordinary

CFD

reducing a short position

312

5.4400 GBP

32 17/19p ordinary

CFD

reducing a short position

27,054

5.4400 GBP

32 17/19p ordinary

CFD

reducing a short position

12,017

5.4400 GBP

32 17/19p ordinary

CFD

reducing a short position

692

5.4400 GBP

32 17/19p ordinary

CFD

reducing a short position

19,745

5.4400 GBP

32 17/19p ordinary

CFD

reducing a short position

103,764

5.4404 GBP

32 17/19p ordinary

CFD

reducing a short position

628

5.4405 GBP

32 17/19p ordinary

CFD

reducing a short position

5

5.4406 GBP

32 17/19p ordinary

CFD

reducing a short position

69,400

5.4407 GBP

32 17/19p ordinary

CFD

reducing a short position

10,086

5.4410 GBP

32 17/19p ordinary

CFD

reducing a short position

54,962

5.4410 GBP

32 17/19p ordinary

CFD

reducing a short position

37,239

5.4419 GBP

32 17/19p ordinary

CFD

reducing a short position

34,903

5.4420 GBP

32 17/19p ordinary

CFD

reducing a short position

2,343

5.4421 GBP

32 17/19p ordinary

CFD

reducing a short position

29,588

5.4421 GBP

32 17/19p ordinary

CFD

reducing a short position

31,700

5.4429 GBP

32 17/19p ordinary

CFD

reducing a short position

22,381

5.4432 GBP

32 17/19p ordinary

CFD

reducing a short position

68,958

5.4440 GBP

32 17/19p ordinary

CFD

reducing a short position

67,566

5.4441 GBP

32 17/19p ordinary

CFD

reducing a short position

228

5.4442 GBP

32 17/19p ordinary

CFD

reducing a short position

6,731

5.4445 GBP

32 17/19p ordinary

CFD

reducing a short position

1,200

5.4450 GBP

32 17/19p ordinary

CFD

reducing a short position

310

5.4458 GBP

32 17/19p ordinary

CFD

reducing a short position

92,092

5.4463 GBP

32 17/19p ordinary

CFD

reducing a short position

176

5.4474 GBP

32 17/19p ordinary

CFD

reducing a short position

17,779

5.4477 GBP

32 17/19p ordinary

CFD

reducing a short position

105

5.4480 GBP

32 17/19p ordinary

CFD

reducing a short position

87,947

5.4493 GBP

32 17/19p ordinary

CFD

reducing a short position

25,216

5.4500 GBP

32 17/19p ordinary

CFD

reducing a short position

11

5.4533 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:

14 March 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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