Last checked at 18 Mar 2024 11:10
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: | 15 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 | PURCHASES | 7,071,178 | 2.1660 GBP | 2.0490 GBP |
Ordinary 10 10/11p | SALES | 4,632,484 | 2.1670 GBP | 2.0495 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 | 300,000 | 2.0533 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 2,953 | 2.0731 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 2,902 | 2.0829 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 9,722 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 39,568 | 2.1002 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 250,000 | 2.1030 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 4,820 | 2.1086 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 4,467 | 2.1145 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 13,498 | 2.1316 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 18,016 | 2.1442 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 1,378 | 2.1469 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 2,763 | 2.1476 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 36,407 | 2.1488 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 250,000 | 2.0510 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,322 | 2.0515 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 24,898 | 2.0647 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 47,580 | 2.0700 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 300 | 2.0710 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 863 | 2.0712 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 33,682 | 2.0734 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7,840 | 2.0754 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7,840 | 2.0754 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 16,356 | 2.0775 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 9,218 | 2.0786 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 5,000 | 2.0800 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,013 | 2.0814 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 5,985 | 2.0814 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 53,033 | 2.0821 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 518,912 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 58,068 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 9,358 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 12,053 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 94,625 | 2.0831 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 216,404 | 2.0832 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,944 | 2.0836 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 50,000 | 2.0840 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,500 | 2.0843 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,718 | 2.0845 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 17,428 | 2.0869 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7,752 | 2.0876 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 60,190 | 2.0915 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 77,684 | 2.0915 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 964,384 | 2.0948 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,205 | 2.0968 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 104,400 | 2.0970 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 781 | 2.0978 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 849 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 70,875 | 2.0983 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 253,093 | 2.0991 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 124,910 | 2.1002 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 37,851 | 2.1067 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 44,471 | 2.1081 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,815 | 2.1122 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 477 | 2.1206 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 9,874 | 2.1264 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 80,897 | 2.1286 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 203,955 | 2.1293 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,322,621 | 2.1301 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 20,038 | 2.1333 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 23,122 | 2.1373 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1 | 2.1375 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 5,766 | 2.1384 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 45,545 | 2.1395 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 45,981 | 2.1396 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 35,000 | 2.1461 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 27,950 | 2.1467 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 79,608 | 2.1485 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,224 | 2.1512 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 40 | 2.1530 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,939 | 2.1538 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 22,167 | 2.0696 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 15,926 | 2.0790 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 128,361 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 887 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 278 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,025 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 173 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 33,134 | 2.0915 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 46,926 | 2.0968 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 40,089 | 2.0996 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 349,166 | 2.0996 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 5,175 | 2.1002 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 12,439 | 2.1031 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 8,076 | 2.0626 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 933 | 2.0686 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 94,625 | 2.0688 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 8 | 2.0715 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 7,910 | 2.0750 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 14,463 | 2.0750 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 21,502 | 2.0750 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,811 | 2.0750 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 480,833 | 2.0750 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 116,346 | 2.0750 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 376,477 | 2.0769 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 6,679 | 2.0773 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 233 | 2.0786 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 25,860 | 2.0828 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 125 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 143,121 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 5,278 | 2.0830 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 250,000 | 2.1018 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 110,168 | 2.1145 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 20,038 | 2.1321 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 23,122 | 2.1337 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 5,547 | 2.1390 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 180 | 2.1488 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 |
Ordinary 10 10/11p | PUT | Exercising | 28,000 | 190.0000 GBP |
(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: | 18 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.