Last checked at 20 Mar 2024 16:01
AMENDMENT(2(a), 2(b))
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: | 18 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 | 7,024,813 | 2.1089 GBP | 2.0730 GBP |
Ordinary 10 10/11p | PURCHASES | 3,577,750 | 2.1150 GBP | 2.0720 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 | 1,543 | 2.0930 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 40,923 | 2.0994 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 10,286 | 2.0995 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 2,939 | 2.1053 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 4,859,770 | 2.1060 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 5,479 | 2.1082 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 35,026 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4,312 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 17,566 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 110,529 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 13,739 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7,514 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 85,586 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 456,791 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4,571 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 390,523 | 2.0902 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4,179 | 2.0925 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 5,981 | 2.0929 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 114,814 | 2.0930 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 102,743 | 2.0932 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 16,137 | 2.0936 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 56,546 | 2.0943 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7 | 2.0966 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 157,000 | 2.0973 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 21,257 | 2.0982 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 25,190 | 2.0982 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 933 | 2.0984 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 587 | 2.0990 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 25 | 2.1002 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 18,858 | 2.1011 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 950,298 | 2.1018 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 61,231 | 2.1034 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 83,362 | 2.1036 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 15,604 | 2.1038 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,215 | 2.1063 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 38,215 | 2.1064 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,093 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 44,338 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 116 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 15 | 2.0911 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 22,641 | 2.0928 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 83,475 | 2.0967 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 9,584 | 2.0967 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 7,700 | 2.0980 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 10,286 | 2.0984 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 74,296 | 2.0989 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 3,963 | 2.0990 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 6,057 | 2.0990 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 2,939 | 2.1024 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 5,363 | 2.1042 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 4,467 | 2.1063 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 7,514 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 572,806 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,571 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 171 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 110,529 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 431 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 10,238 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,254 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 13,739 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 456,791 | 2.0900 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 12,834 | 2.0906 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 17,184 | 2.0906 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 8,275 | 2.0923 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 237,064 | 2.0953 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 23,420 | 2.0964 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,114 | 2.0965 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 443 | 2.0976 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 45,600 | 2.0989 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,420 | 2.0997 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.1000 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 10,908 | 2.1003 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 9,501 | 2.1011 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 717 | 2.1028 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 8,836 | 2.1056 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,302 | 2.1064 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 38,491 | 2.1075 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,085 | 2.1082 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1 | 2.1121 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: | 20 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.