Source - LSE Regulatory
RNS Number : 3347C
BNP Paribas London
26 March 2025
 

FORM 8.3

 

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

 

1.         KEY INFORMATION

 

(a) Full name of discloser:

BNP Paribas SA

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

     The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.


(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

     Use a separate form for each offeror/offeree

Aviva plc

(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:


(e) Date position held/dealing undertaken:

     For an opening position disclosure, state the latest practicable date prior to the disclosure

25/03/2025

(f)  In addition to the company in 1(c) above, is the discloser 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

If YES, specify which:

Direct Line Insurance Group plc

 

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

 

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

 

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

 

Class of relevant security:

 

GB00BPQY8M80 (32 17/19p ordinary)

 

 

Interests

Short positions

 

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

12,581,396

0.4698

-25,405,762

-0.9487

(2) Cash-settled derivatives:

10,841,201

0.4048

-6,834,527

-0.2552

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

586,000

0.0219

+0

+0.0000

TOTAL:

24,008,597

0.8965

-32,240,289

-1.2039

 

All interests and all short positions should be disclosed.

 

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

 

(b)        Rights to subscribe for new securities (including directors' and other employee options)

 

Class of relevant security in relation to which subscription right exists:


Details, including nature of the rights concerned and relevant percentages:

 

 

 

3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

 

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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

Purchase/sale

 

Number of securities

Price per unit

GB00BPQY8M80

Purchase

1

5.5780 GBP

GB00BPQY8M80

Purchase

1

5.5893 GBP

GB00BPQY8M80

Purchase

1

5.5970 GBP

GB00BPQY8M80

Purchase

1

5.5970 GBP

GB00BPQY8M80

Purchase

1

5.6062 GBP

GB00BPQY8M80

Purchase

1

5.6100 GBP

GB00BPQY8M80

Purchase

1

5.6129 GBP

GB00BPQY8M80

Purchase

2

5.5747 GBP

GB00BPQY8M80

Purchase

2

5.5885 GBP

GB00BPQY8M80

Purchase

3

5.5885 GBP

GB00BPQY8M80

Purchase

3

5.5921 GBP

GB00BPQY8M80

Purchase

3

5.6002 GBP

GB00BPQY8M80

Purchase

3

5.6060 GBP

GB00BPQY8M80

Purchase

3

5.6085 GBP

GB00BPQY8M80

Purchase

4

5.6019 GBP

GB00BPQY8M80

Purchase

10

5.6136 GBP

GB00BPQY8M80

Purchase

11

5.5940 GBP

GB00BPQY8M80

Purchase

18

5.6071 GBP

GB00BPQY8M80

Purchase

19

5.5954 GBP

GB00BPQY8M80

Purchase

19

5.5969 GBP

GB00BPQY8M80

Purchase

20

5.5894 GBP

GB00BPQY8M80

Purchase

20

5.5933 GBP

GB00BPQY8M80

Purchase

22

5.6092 GBP

GB00BPQY8M80

Purchase

24

5.5956 GBP

GB00BPQY8M80

Purchase

31

5.5983 GBP

GB00BPQY8M80

Purchase

35

5.5983 GBP

GB00BPQY8M80

Purchase

36

5.6140 GBP

GB00BPQY8M80

Purchase

40

5.5956 GBP

GB00BPQY8M80

Purchase

43

5.5988 GBP

GB00BPQY8M80

Purchase

43

5.6041 GBP

GB00BPQY8M80

Purchase

46

5.5961 GBP

GB00BPQY8M80

Purchase

47

5.5923 GBP

GB00BPQY8M80

Purchase

56

5.5861 GBP

GB00BPQY8M80

Purchase

57

5.5804 GBP

GB00BPQY8M80

Purchase

57

5.5989 GBP

GB00BPQY8M80

Purchase

63

5.6005 GBP

GB00BPQY8M80

Purchase

65

5.5938 GBP

GB00BPQY8M80

Purchase

66

5.5823 GBP

GB00BPQY8M80

Purchase

83

5.5902 GBP

GB00BPQY8M80

Purchase

100

5.5944 GBP

GB00BPQY8M80

Purchase

100

5.5990 GBP

GB00BPQY8M80

Purchase

139

5.5740 GBP

GB00BPQY8M80

Purchase

155

5.5993 GBP

GB00BPQY8M80

Purchase

175

5.5945 GBP

GB00BPQY8M80

Purchase

175

5.5992 GBP

GB00BPQY8M80

Purchase

211

5.5978 GBP

GB00BPQY8M80

Purchase

248

5.5952 GBP

GB00BPQY8M80

Purchase

468

5.5890 GBP

GB00BPQY8M80

Purchase

1,138

5.5750 GBP

GB00BPQY8M80

Purchase

1,153

5.5750 GBP

GB00BPQY8M80

Purchase

1,218

5.5820 GBP

GB00BPQY8M80

Purchase

1,268

5.5750 GBP

GB00BPQY8M80

Purchase

1,433

5.5820 GBP

GB00BPQY8M80

Purchase

1,607

5.5907 GBP

GB00BPQY8M80

Purchase

2,072

5.5980 GBP

GB00BPQY8M80

Purchase

2,131

5.5892 GBP

GB00BPQY8M80

Purchase

2,549

5.5760 GBP

GB00BPQY8M80

Purchase

2,859

5.5818 GBP

GB00BPQY8M80

Purchase

3,077

5.5790 GBP

GB00BPQY8M80

Purchase

3,423

5.5770 GBP

GB00BPQY8M80

Purchase

4,198

5.5710 GBP

GB00BPQY8M80

Purchase

4,230

5.5750 GBP

GB00BPQY8M80

Purchase

4,342

5.5750 GBP

GB00BPQY8M80

Purchase

4,707

5.5730 GBP

GB00BPQY8M80

Purchase

5,393

5.5750 GBP

GB00BPQY8M80

Purchase

5,961

5.6109 GBP

GB00BPQY8M80

Purchase

6,486

5.5937 GBP

GB00BPQY8M80

Purchase

10,717

5.5710 GBP

GB00BPQY8M80

Purchase

11,631

5.5710 GBP

GB00BPQY8M80

Purchase

13,106

5.5840 GBP

GB00BPQY8M80

Purchase

15,026

5.5841 GBP

GB00BPQY8M80

Purchase

17,400

5.5816 GBP

GB00BPQY8M80

Purchase

21,483

5.5710 GBP

GB00BPQY8M80

Purchase

37,849

5.5797 GBP

GB00BPQY8M80

Purchase

44,115

5.5775 GBP

GB00BPQY8M80

Purchase

47,134

5.5840 GBP

GB00BPQY8M80

Purchase

56,780

5.5980 GBP

GB00BPQY8M80

Purchase

60,611

5.5987 GBP

GB00BPQY8M80

Purchase

62,394

5.5890 GBP

GB00BPQY8M80

Purchase

111,149

5.5840 GBP

GB00BPQY8M80

Purchase

128,958

5.5840 GBP

GB00BPQY8M80

Purchase

149,701

5.5819 GBP

GB00BPQY8M80

Purchase

170,735

5.5840 GBP

GB00BPQY8M80

Purchase

174,402

5.5963 GBP

GB00BPQY8M80

Purchase

251,440

5.5840 GBP

GB00BPQY8M80

Purchase

509,462

5.5886 GBP

GB00BPQY8M80

Purchase

3,462,325

5.5890 GBP

GB00BPQY8M80

Sale

-3,279,583

5.5831 GBP

GB00BPQY8M80

Sale

-2,525,480

5.5831 GBP

GB00BPQY8M80

Sale

-1,381,442

5.5831 GBP

GB00BPQY8M80

Sale

-726,530

5.5831 GBP

GB00BPQY8M80

Sale

-409,693

5.5841 GBP

GB00BPQY8M80

Sale

-363,541

5.6040 GBP

GB00BPQY8M80

Sale

-170,735

5.5840 GBP

GB00BPQY8M80

Sale

-170,735

5.5840 GBP

GB00BPQY8M80

Sale

-139,623

5.6000 GBP

GB00BPQY8M80

Sale

-80,901

5.5840 GBP

GB00BPQY8M80

Sale

-80,705

5.5840 GBP

GB00BPQY8M80

Sale

-80,678

5.5831 GBP

GB00BPQY8M80

Sale

-70,867

5.5872 GBP

GB00BPQY8M80

Sale

-66,556

5.5831 GBP

GB00BPQY8M80

Sale

-64,733

5.5836 GBP

GB00BPQY8M80

Sale

-58,751

5.5891 GBP

GB00BPQY8M80

Sale

-50,274

5.5831 GBP

GB00BPQY8M80

Sale

-34,400

5.5877 GBP

GB00BPQY8M80

Sale

-34,140

5.5831 GBP

GB00BPQY8M80

Sale

-31,980

5.5831 GBP

GB00BPQY8M80

Sale

-30,248

5.5840 GBP

GB00BPQY8M80

Sale

-23,804

5.5939 GBP

GB00BPQY8M80

Sale

-20,225

5.5839 GBP

GB00BPQY8M80

Sale

-17,088

5.5867 GBP

GB00BPQY8M80

Sale

-15,965

5.5836 GBP

GB00BPQY8M80

Sale

-14,500

5.5824 GBP

GB00BPQY8M80

Sale

-9,467

5.5831 GBP

GB00BPQY8M80

Sale

-9,452

5.5831 GBP

GB00BPQY8M80

Sale

-8,500

5.5840 GBP

GB00BPQY8M80

Sale

-6,183

5.5826 GBP

GB00BPQY8M80

Sale

-5,269

5.5891 GBP

GB00BPQY8M80

Sale

-4,897

5.5842 GBP

GB00BPQY8M80

Sale

-4,418

5.5831 GBP

GB00BPQY8M80

Sale

-4,394

5.5840 GBP

GB00BPQY8M80

Sale

-3,178

5.6030 GBP

GB00BPQY8M80

Sale

-2,884

5.5894 GBP

GB00BPQY8M80

Sale

-2,078

5.5740 GBP

GB00BPQY8M80

Sale

-2,005

5.5926 GBP

GB00BPQY8M80

Sale

-1,394

5.6030 GBP

GB00BPQY8M80

Sale

-1,335

5.5800 GBP

GB00BPQY8M80

Sale

-1,248

5.5936 GBP

GB00BPQY8M80

Sale

-1,227

5.5820 GBP

GB00BPQY8M80

Sale

-1,160

5.5841 GBP

GB00BPQY8M80

Sale

-1,151

5.5912 GBP

GB00BPQY8M80

Sale

-1,052

5.5917 GBP

GB00BPQY8M80

Sale

-848

5.5980 GBP

GB00BPQY8M80

Sale

-778

5.5960 GBP

GB00BPQY8M80

Sale

-778

5.5960 GBP

GB00BPQY8M80

Sale

-755

5.5893 GBP

GB00BPQY8M80

Sale

-706

5.5860 GBP

GB00BPQY8M80

Sale

-522

5.5778 GBP

GB00BPQY8M80

Sale

-388

5.5901 GBP

GB00BPQY8M80

Sale

-359

5.5980 GBP

GB00BPQY8M80

Sale

-342

5.5980 GBP

GB00BPQY8M80

Sale

-333

5.5980 GBP

GB00BPQY8M80

Sale

-300

5.5960 GBP

GB00BPQY8M80

Sale

-297

5.5880 GBP

GB00BPQY8M80

Sale

-253

5.5980 GBP

GB00BPQY8M80

Sale

-248

5.5952 GBP

GB00BPQY8M80

Sale

-245

5.5880 GBP

GB00BPQY8M80

Sale

-226

5.5960 GBP

GB00BPQY8M80

Sale

-191

5.5880 GBP

GB00BPQY8M80

Sale

-175

5.5945 GBP

GB00BPQY8M80

Sale

-175

5.5992 GBP

GB00BPQY8M80

Sale

-155

5.5993 GBP

GB00BPQY8M80

Sale

-133

5.5890 GBP

GB00BPQY8M80

Sale

-100

5.5944 GBP

GB00BPQY8M80

Sale

-100

5.5990 GBP

GB00BPQY8M80

Sale

-94

5.5980 GBP

GB00BPQY8M80

Sale

-93

5.5880 GBP

GB00BPQY8M80

Sale

-83

5.5902 GBP

GB00BPQY8M80

Sale

-81

5.6000 GBP

GB00BPQY8M80

Sale

-79

5.6056 GBP

GB00BPQY8M80

Sale

-66

5.5823 GBP

GB00BPQY8M80

Sale

-65

5.5938 GBP

GB00BPQY8M80

Sale

-63

5.6005 GBP

GB00BPQY8M80

Sale

-57

5.5804 GBP

GB00BPQY8M80

Sale

-57

5.5989 GBP

GB00BPQY8M80

Sale

-56

5.5861 GBP

GB00BPQY8M80

Sale

-54

5.5960 GBP

GB00BPQY8M80

Sale

-47

5.5923 GBP

GB00BPQY8M80

Sale

-46

5.5961 GBP

GB00BPQY8M80

Sale

-43

5.5988 GBP

GB00BPQY8M80

Sale

-43

5.6041 GBP

GB00BPQY8M80

Sale

-40

5.5956 GBP

GB00BPQY8M80

Sale

-35

5.5983 GBP

GB00BPQY8M80

Sale

-31

5.5983 GBP

GB00BPQY8M80

Sale

-29

5.5880 GBP

GB00BPQY8M80

Sale

-24

5.5956 GBP

GB00BPQY8M80

Sale

-22

5.6092 GBP

GB00BPQY8M80

Sale

-20

5.5894 GBP

GB00BPQY8M80

Sale

-20

5.5933 GBP

GB00BPQY8M80

Sale

-19

5.5954 GBP

GB00BPQY8M80

Sale

-19

5.5969 GBP

GB00BPQY8M80

Sale

-18

5.6071 GBP

GB00BPQY8M80

Sale

-10

5.6136 GBP

GB00BPQY8M80

Sale

-4

5.6019 GBP

GB00BPQY8M80

Sale

-3

5.5885 GBP

GB00BPQY8M80

Sale

-3

5.5921 GBP

GB00BPQY8M80

Sale

-3

5.6002 GBP

GB00BPQY8M80

Sale

-3

5.6085 GBP

GB00BPQY8M80

Sale

-2

5.5747 GBP

GB00BPQY8M80

Sale

-2

5.5885 GBP

GB00BPQY8M80

Sale

-1

5.5780 GBP

GB00BPQY8M80

Sale

-1

5.5893 GBP

GB00BPQY8M80

Sale

-1

5.5970 GBP

GB00BPQY8M80

Sale

-1

5.5970 GBP

GB00BPQY8M80

Sale

-1

5.6062 GBP

GB00BPQY8M80

Sale

-1

5.6100 GBP

GB00BPQY8M80

Sale

-1

5.6129 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

GB00BPQY8M80

Contract for Difference

Opening Short Position

-60,748

5.5840

GB00BPQY8M80

Contract for Difference

Opening Short Position

-95,715

5.5840 GBP

GB00BPQY8M80

Contract for Difference

Closing Long Position

-13,176

5.5840 GBP

GB00BPQY8M80

Contract for Difference

Closing Short Position

26,037

5.5840

GB00BPQY8M80

Contract for Difference

Closing Short Position

133

5.5840

GB00BPQY8M80

Contract for Difference

Increasing Long Position

101

5.5840

GB00BPQY8M80

Contract for Difference

Increasing Long Position

149,899

5.5840

GB00BPQY8M80

Contract for Difference

Increasing Long Position

26,078

5.5840

GB00BPQY8M80

Contract for Difference

Increasing Long Position

2,204

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Long Position

-111,149

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Long Position

-3

5.5840 GBP

GB00BPQY8M80

Contract for Difference

Reducing Short Position

111,149

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Short Position

27,267

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Short Position

19,494

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Short Position

28

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Short Position

1,225

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Short Position

2,258

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Short Position

135,600

5.5840

GB00BPQY8M80

Contract for Difference

Reducing Short Position

363,541

5.5840

 

(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)

 

 

 

 

 

 

4.         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 person 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 person 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

 

 

(c)        Attachments

 

Is a Supplemental Form 8 (Open Positions) attached?

Yes

 

 

Date of disclosure:

26/03/2025

Contact name:

Compliance Control Room

Telephone number*:

0207 595 9695

 

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.

 

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

 

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

 

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS,

AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

 

1.

KEY INFORMATION


 

 Full name of person making disclosure:

 

BNP Paribas SA

 Name of offeror/offeree in relation to whose

 relevant securities the disclosure relates:

Aviva plc

 

2.

STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)


 

Class of

relevant

security

Product

description

e.g. call

option

Written or

purchased

Number of

securities

to which

option or

derivative

relates

Exercise

price

per unit

Type

e.g.

American,

European

etc.

Expiry

date

32 17/19p ordinary (GB00BPQY8M80)

Put Option

W

500000

5.584

american

18/12/2026

32 17/19p ordinary (GB00BPQY8M80)

Call Option

P

86000

5.584

american

19/12/2025

 

3.

AGREEMENTS TO PURCHASE OR SELL ETC.


 

Full details should be given so that the nature of the interest or position can be fully understood:

 

 

 

 

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.


 

The currency of all prices and other monetary amounts should be stated.


 

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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