Last checked at 14 Mar 2024 09:44
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 | Direct Line Insurance Group 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 2024 |
(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- Ageas SA NV |
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 |
Ordinary 10 10/11p | SALES | 12,943,415 | 2.3610 GBP | 2.0650 GBP |
Ordinary 10 10/11p | PURCHASES | 3,346,158 | 2.3750 GBP | 2.0650 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 |
Ordinary 10 10/11p | CFD | increasing a long position | 6,000 | 2.0650 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 16,882 | 2.1298 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 21,920 | 2.1374 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 30,089 | 2.1416 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 499,345 | 2.1564 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 6,075 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 2,415 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 3,179 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 54,781 | 2.1611 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 4,010 | 2.1827 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 141,731 | 2.1887 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 423 | 2.2520 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 1,152 | 2.2543 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 7,034,625 | 2.2900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 502 | 2.1213 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 9,967 | 2.1230 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 15,940 | 2.1231 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7 | 2.1291 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,167 | 2.1301 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 6,332 | 2.1318 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1 | 2.1326 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 36,595 | 2.1333 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7,398 | 2.1336 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 137,038 | 2.1354 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 85,823 | 2.1396 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1 | 2.1400 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,943 | 2.1424 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,064 | 2.1426 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 129 | 2.1430 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 420 | 2.1435 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 44,249 | 2.1447 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 74,178 | 2.1448 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 9,127 | 2.1469 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 36,012 | 2.1484 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 347,998 | 2.1488 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 18,830 | 2.1533 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 15,310 | 2.1538 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 423 | 2.1549 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 77,076 | 2.1554 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4,571 | 2.1555 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,266 | 2.1585 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 41,682 | 2.1590 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,050 | 2.1592 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 21,907 | 2.1598 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 16,361 | 2.1598 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 33,545 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 180 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 10,627 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,203 | 2.1602 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 345,563 | 2.1613 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 170,796 | 2.1618 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 71,778 | 2.1619 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 45,182 | 2.1689 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 50,988 | 2.1809 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 30,927 | 2.1821 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,680 | 2.1950 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 88,132 | 2.2110 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 44,247 | 2.2207 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 151,117 | 2.2260 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 200 | 2.2565 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 359 | 2.2570 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 360 | 2.2590 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 13,515 | 2.3178 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 6,000 | 2.0709 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 38,032 | 2.1334 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 143,886 | 2.1348 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 54,781 | 2.1448 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 6,590 | 2.1529 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 816 | 2.1533 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 69 | 2.1599 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 4,010 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 10,586 | 2.1615 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,216 | 2.1615 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 18,645 | 2.2092 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 115,428 | 2.0878 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 22,297 | 2.0878 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 174,673 | 2.0878 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 35,600 | 2.0878 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.1008 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 10,918 | 2.1096 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 22,156 | 2.1186 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 335,271 | 2.1190 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 399,898 | 2.1264 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 17,232 | 2.1267 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 347,000 | 2.1272 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,042 | 2.1298 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 363,680 | 2.1311 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,570 | 2.1359 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,859 | 2.1385 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 22,344 | 2.1416 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 698,610 | 2.1445 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 630,561 | 2.1445 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 108,442 | 2.1445 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 74,178 | 2.1466 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 127,591 | 2.1474 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,078 | 2.1535 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 9,520 | 2.1598 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 204,156 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 16,803 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 847 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.1600 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 144,803 | 2.1685 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.1700 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 42,218 | 2.1827 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 136,823 | 2.1833 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 15,295 | 2.1857 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 332,967 | 2.1857 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 81,175 | 2.1857 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 10,204 | 2.1857 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,677 | 2.1857 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 5,540 | 2.1857 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 151,117 | 2.2275 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 911 | 2.2448 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 78 | 2.2448 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 38,246 | 2.2448 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 231 | 2.2448 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 8 | 2.2540 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.2540 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 14,731 | 2.2543 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 470 | 2.2549 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 300 | 2.2959 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 100 | 2.3648 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 2024 |
| 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.