Last checked at 15 Mar 2024 10:20
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: | 14 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 | 3,444,783 | 2.1981 GBP | 2.0445 GBP |
Ordinary 10 10/11p | PURCHASES | 5,478,807 | 2.2000 GBP | 2.0410 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 | 3,109 | 2.0702 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 587 | 2.0849 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 15,034 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 76,089 | 2.1018 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 2,492 | 2.1050 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 3,842 | 2.1050 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 13,627 | 2.1131 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 4,884 | 2.1731 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 1,740 | 2.1746 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 671 | 2.1860 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 5,554 | 2.0610 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 469 | 2.0613 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 21,222 | 2.0623 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 21,142 | 2.0635 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,747 | 2.0647 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 166,130 | 2.0657 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 293 | 2.0667 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 19,900 | 2.0668 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 11,422 | 2.0697 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 29,432 | 2.0738 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 27,609 | 2.0775 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 47,940 | 2.0779 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,630 | 2.0780 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 19,748 | 2.0785 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 14,640 | 2.0786 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 54,500 | 2.0801 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 32,814 | 2.0823 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 43,383 | 2.0828 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 6,862 | 2.0837 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 16,878 | 2.0895 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 12,606 | 2.0895 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 164,834 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 180 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 11,183 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 78,214 | 2.0902 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 131,853 | 2.0910 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 6,613 | 2.0915 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 224,250 | 2.0917 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 44,048 | 2.0932 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 212,885 | 2.0970 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 59,132 | 2.0972 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,084 | 2.0985 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 338 | 2.0985 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,132 | 2.0985 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 323,575 | 2.1078 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 204,743 | 2.1125 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 141,471 | 2.1140 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 100 | 2.1330 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 77,000 | 2.1458 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 45,832 | 2.1782 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,000 | 2.1800 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4 | 2.1803 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,021 | 2.1820 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,453 | 2.1876 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 18,213 | 2.0635 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 13,909 | 2.0742 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 98,111 | 2.0753 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 8,522 | 2.0806 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,152 | 2.0823 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 642 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 3,109 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 587 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 10,200 | 2.0947 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 3,246 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 28,273 | 2.0981 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 13,627 | 2.1244 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 74,752 | 2.1340 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 4,884 | 2.1750 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 2,144 | 2.1811 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,500 | 2.0520 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 128 | 2.0559 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 546 | 2.0570 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.0598 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 679 | 2.0628 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 65,915 | 2.0680 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 123 | 2.0733 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 10,152 | 2.0831 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 43,356 | 2.0849 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 15,521 | 2.0865 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 10,996 | 2.0879 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 72,476 | 2.0898 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 15,209 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,924 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,618 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 20,410 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 7 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 20,703 | 2.0941 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,254 | 2.1123 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,151 | 2.1189 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 481 | 2.1189 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,446 | 2.1189 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 791 | 2.1189 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 11,635 | 2.1189 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 48,083 | 2.1189 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 65,406 | 2.1329 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 100 | 2.1500 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 77,000 | 2.1711 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,200 | 2.1766 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 900 | 2.1770 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 3 | 2.1791 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 6,854 | 2.1796 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,509 | 2.1927 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: | 15 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.