Last checked at 8 Mar 2024 15:54
AMENDMENT(2(a), 2(b), 2(c)(i))
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: | 06 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 | 5,436,538 | 2.1959 GBP | 2.1452 GBP |
Ordinary 10 10/11p | SALES | 5,029,598 | 2.1960 GBP | 2.1420 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 | 529 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 13 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 8,093 | 2.1665 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 12,715 | 2.1698 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 110,741 | 2.1698 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 14,164 | 2.1705 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 17,923 | 2.1726 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 30,955 | 2.1745 GBP |
Ordinary 10 10/11p | CFD | increasing a long position | 675 | 2.1770 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 223 | 2.1507 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 11 | 2.1599 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,993 | 2.1624 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 96,260 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 23,488 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 25,898 | 2.1636 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,207 | 2.1661 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,576 | 2.1663 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,265 | 2.1672 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 400,863 | 2.1690 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 68,940 | 2.1690 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 6,710 | 2.1690 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 445,197 | 2.1690 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 859 | 2.1705 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 504 | 2.1709 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4,387 | 2.1713 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,957 | 2.1719 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 10,796 | 2.1719 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,644 | 2.1719 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 58,127 | 2.1719 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7,247 | 2.1719 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 239,759 | 2.1719 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 200 | 2.1722 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 8,076 | 2.1728 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 7,243 | 2.1733 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 239,759 | 2.1733 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 10,796 | 2.1733 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 3,952 | 2.1733 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,644 | 2.1733 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 58,121 | 2.1733 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4,766 | 2.1736 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 463,685 | 2.1744 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 40,979 | 2.1752 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 528 | 2.1753 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 790 | 2.1753 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 47,952 | 2.1753 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 11,625 | 2.1753 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,160 | 2.1753 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,449 | 2.1753 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 967,579 | 2.1762 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 1,500 | 2.1770 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 4,934 | 2.1775 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,166 | 2.1830 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 6,486 | 2.1846 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 50,217 | 2.1846 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 32,942 | 2.1850 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 10,355 | 2.1850 GBP |
Ordinary 10 10/11p | CFD | increasing a short position | 2,619 | 2.1959 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 8,320 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 1,257 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 8,618 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 5,147 | 2.1775 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 28,456 | 2.1787 GBP |
Ordinary 10 10/11p | CFD | reducing a long position | 553 | 2.1860 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,259,275 | 2.1420 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 223 | 2.1493 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 100,000 | 2.1505 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 546 | 2.1628 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 64,101 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 971 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,695 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 1,960 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 873 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,014 | 2.1630 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 139,825 | 2.1673 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 76 | 2.1715 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 7,889 | 2.1715 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 30,600 | 2.1718 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 4,009 | 2.1720 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 59,195 | 2.1747 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 6,710 | 2.1798 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,535 | 2.1813 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 22,746 | 2.1814 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 92 | 2.1830 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 2,166 | 2.1876 GBP |
Ordinary 10 10/11p | CFD | reducing a short position | 357 | 2.1890 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 |
Ordinary 10 10/11p | CALL | PURCHASING | 521,394 | 260.6420 | E | 05/06/2024 | 0.0335 GBP |
(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: | 08 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.