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: | 17 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 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 | 2,182,828 | 5.5820 GBP | 5.4800 GBP |
| 32 17/19p ordinary | Sales | 3,052,539 | 5.5770 GBP | 5.4760 GBP |
| ADR / (1.00 : 2.00) | Purchases | 96 | 14.6080 USD | 14.6080 USD |
| ADR / (1.00 : 2.00) | Sales | 48 | 0.0000* USD | 0.0000* USD |
*Please note that the zero price represents an ETF redemption.
(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 short position | 136 | 5.4760 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 248,812 | 5.4760 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 26 | 5.4760 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 86 | 5.4760 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 7 | 5.4760 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 17 | 5.4760 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 3,388 | 5.4860 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 141 | 5.5052 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 5,200 | 5.5070 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 25 | 5.5073 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 82 | 5.5073 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 6 | 5.5073 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 16 | 5.5073 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 294 | 5.5098 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 640 | 5.5098 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 6,485 | 5.5106 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 2,881 | 5.5106 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 41 | 5.5132 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 7,657 | 5.5203 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 813 | 5.5250 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 48,496 | 5.5289 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 42 | 5.5312 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 62 | 5.5312 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 11 | 5.5312 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 26 | 5.5312 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 17,300 | 5.5342 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 52,305 | 5.5465 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 8,382 | 5.5522 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 39 | 5.5523 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 53 | 5.5560 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 102 | 5.5560 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 15 | 5.5560 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 34 | 5.5560 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 11 | 5.5600 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 48 | 5.5603 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 3,140 | 5.5656 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 6,249 | 5.5656 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 8,200 | 5.5658 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 347 | 5.5666 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 60,139 | 5.5679 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 147 | 5.5682 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,591 | 5.5692 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 27,145 | 5.5693 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 13,640 | 5.5693 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,553 | 5.5696 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,733 | 5.5696 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 8 | 5.5699 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 8 | 5.5699 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 48,496 | 5.5699 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 39,564 | 5.5700 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,798 | 5.5700 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 640 | 5.5700 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,342 | 5.5701 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 2,798 | 5.5702 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 280,276 | 5.5703 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 6,155 | 5.5704 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 2,631 | 5.5704 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 413 | 5.5711 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 27,383 | 5.5734 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 294 | 5.5742 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: | 18 March 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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