Last checked at 5 Mar 2024 10:53
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: | 04 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 | 1,791,664 | 2.1550 GBP | 2.0760 GBP |
Ordinary 10 10/11p | PURCHASES | 1,610,164 | 2.1570 GBP | 2.0780 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 | 710 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 20,225 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 18,072 | 2.0987 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 10,615 | 2.0991 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 23,956 | 2.1038 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 3,990 | 2.1046 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 11,927 | 2.1103 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 11,766 | 2.1110 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 9,757 | 2.1203 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 1,121 | 2.1203 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 15,094 | 2.1204 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 733 | 2.1331 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 4,080 | 2.1403 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 1,100 | 2.1440 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,180 | 2.0887 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 34,948 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,698 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 400 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 75,321 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,970 | 2.0988 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 13,915 | 2.0999 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 5,233 | 2.1030 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 22,869 | 2.1061 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 46,204 | 2.1079 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 34,367 | 2.1097 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 13,382 | 2.1101 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 19,206 | 2.1138 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 13,389 | 2.1150 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 14,725 | 2.1164 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 53,793 | 2.1168 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 5,000 | 2.1190 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,057 | 2.1243 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 83,350 | 2.1262 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 17,210 | 2.1307 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,400 | 2.1482 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 100 | 2.1482 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 523 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 193 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 12,877 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 4,348 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 6,477 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 34,874 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 2,373 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,586 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 3,238 | 2.0988 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 18,072 | 2.0989 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 6,398 | 2.1043 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 17,161 | 2.1050 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,036 | 2.1112 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,820 | 2.1299 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,100 | 2.1470 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 16 | 2.0760 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 5,684 | 2.0778 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 539 | 2.0820 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 7,736 | 2.0834 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 605 | 2.0866 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,942 | 2.0933 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 17,138 | 2.0979 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 92 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 61,359 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,146 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,572 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 10,450 | 2.0987 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 11,499 | 2.0991 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 15,396 | 2.0991 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,107 | 2.1004 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 205,247 | 2.1006 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 369 | 2.1019 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 14,701 | 2.1022 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 157,475 | 2.1031 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 18 | 2.1038 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 36,135 | 2.1040 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 70,485 | 2.1048 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 467 | 2.1049 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,231 | 2.1074 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 26 | 2.1087 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,970 | 2.1103 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 32,144 | 2.1111 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 81,432 | 2.1155 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 21,319 | 2.1179 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.1220 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 8 | 2.1260 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 20,702 | 2.1278 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,504 | 2.1284 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 17,737 | 2.1408 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: | 05 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.