RNS Number : 2411A
Morgan Stanley & Co. Int'l plc
11 March 2025
 

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

Aviva 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:

05 March 2025

(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 - Direct Line Insurance Group plc

 

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

32 17/19p ordinary

PURCHASES

3,222,823

5.4320 GBP

5.3560 GBP

32 17/19p ordinary

SALES

4,484,801

5.4340 GBP

5.1574 GBP

32 17/19p ordinary

PURCHASES

214,504

6.4778 EUR

6.4778 EUR

 

(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

32 17/19p ordinary

CFD

increasing a long position

71,675

5.1574 GBP

32 17/19p ordinary

CFD

increasing a long position

7,454

5.3891 GBP

32 17/19p ordinary

CFD

increasing a long position

14,315

5.4035 GBP

32 17/19p ordinary

CFD

increasing a long position

67,451

5.4059 GBP

32 17/19p ordinary

CFD

increasing a long position

20,814

5.4062 GBP

32 17/19p ordinary

CFD

increasing a long position

600

5.4067 GBP

32 17/19p ordinary

CFD

increasing a long position

55,746

5.4081 GBP

32 17/19p ordinary

CFD

increasing a long position

23,387

5.4081 GBP

32 17/19p ordinary

CFD

increasing a long position

12,234

5.4088 GBP

32 17/19p ordinary

CFD

increasing a long position

5,485

5.4108 GBP

32 17/19p ordinary

CFD

increasing a long position

7,405

5.4114 GBP

32 17/19p ordinary

CFD

increasing a long position

36,225

5.4132 GBP

32 17/19p ordinary

CFD

increasing a long position

7,001

5.4132 GBP

32 17/19p ordinary

CFD

increasing a long position

3,988

5.4132 GBP

32 17/19p ordinary

CFD

increasing a long position

15,788

5.4132 GBP

32 17/19p ordinary

CFD

increasing a long position

951

5.4136 GBP

32 17/19p ordinary

CFD

increasing a long position

1,100

5.4144 GBP

32 17/19p ordinary

CFD

increasing a long position

9,245

5.4179 GBP

32 17/19p ordinary

CFD

increasing a long position

1,411

5.4180 GBP

32 17/19p ordinary

CFD

increasing a long position

1,890

5.4206 GBP

32 17/19p ordinary

CFD

increasing a long position

10,610

5.4206 GBP

32 17/19p ordinary

CFD

increasing a long position

2,291

5.4206 GBP

32 17/19p ordinary

CFD

increasing a long position

13,879

5.4206 GBP

32 17/19p ordinary

CFD

increasing a long position

345

5.4212 GBP

32 17/19p ordinary

CFD

increasing a long position

822

5.4212 GBP

32 17/19p ordinary

CFD

increasing a long position

1,461

5.4232 GBP

32 17/19p ordinary

CFD

increasing a long position

1,310

5.4282 GBP

32 17/19p ordinary

CFD

increasing a long position

585

5.4282 GBP

32 17/19p ordinary

CFD

increasing a long position

2,805

5.4286 GBP

32 17/19p ordinary

CFD

increasing a long position

1,249

5.4286 GBP

32 17/19p ordinary

CFD

increasing a short position

2,974

5.3560 GBP

32 17/19p ordinary

CFD

increasing a short position

572

5.3560 GBP

32 17/19p ordinary

CFD

increasing a short position

188

5.3560 GBP

32 17/19p ordinary

CFD

increasing a short position

4,882

5.3888 GBP

32 17/19p ordinary

CFD

increasing a short position

6,330

5.3956 GBP

32 17/19p ordinary

CFD

increasing a short position

2,816

5.3956 GBP

32 17/19p ordinary

CFD

increasing a short position

178,906

5.4027 GBP

32 17/19p ordinary

CFD

increasing a short position

8,510

5.4033 GBP

32 17/19p ordinary

CFD

increasing a short position

3,674

5.4050 GBP

32 17/19p ordinary

CFD

increasing a short position

1,210

5.4050 GBP

32 17/19p ordinary

CFD

increasing a short position

66,285

5.4137 GBP

32 17/19p ordinary

CFD

increasing a short position

29,796

5.4140 GBP

32 17/19p ordinary

CFD

increasing a short position

56,727

5.4146 GBP

32 17/19p ordinary

CFD

increasing a short position

6,681

5.4146 GBP

32 17/19p ordinary

CFD

increasing a short position

63,434

5.4150 GBP

32 17/19p ordinary

CFD

increasing a short position

37,927

5.4154 GBP

32 17/19p ordinary

CFD

increasing a short position

23,237

5.4154 GBP

32 17/19p ordinary

CFD

increasing a short position

10,032

5.4154 GBP

32 17/19p ordinary

CFD

increasing a short position

32,033

5.4154 GBP

32 17/19p ordinary

CFD

increasing a short position

196

5.4179 GBP

32 17/19p ordinary

CFD

increasing a short position

443

5.4179 GBP

32 17/19p ordinary

CFD

increasing a short position

8,968

5.4180 GBP

32 17/19p ordinary

CFD

increasing a short position

1,184

5.4180 GBP

32 17/19p ordinary

CFD

increasing a short position

5,224

5.4208 GBP

32 17/19p ordinary

CFD

increasing a short position

80,508

5.4211 GBP

32 17/19p ordinary

CFD

increasing a short position

92

5.4220 GBP

32 17/19p ordinary

CFD

reducing a long position

2,377,257

5.3560 GBP

32 17/19p ordinary

CFD

reducing a long position

1,411

5.3560 GBP

32 17/19p ordinary

CFD

reducing a long position

1,310

5.3956 GBP

32 17/19p ordinary

CFD

reducing a long position

585

5.3956 GBP

32 17/19p ordinary

CFD

reducing a long position

12,815

5.3968 GBP

32 17/19p ordinary

CFD

reducing a long position

6,682

5.3973 GBP

32 17/19p ordinary

CFD

reducing a long position

11,359

5.4109 GBP

32 17/19p ordinary

CFD

reducing a long position

35,133

5.4150 GBP

32 17/19p ordinary

CFD

reducing a long position

2,139

5.4157 GBP

32 17/19p ordinary

CFD

reducing a long position

9,072

5.4160 GBP

32 17/19p ordinary

CFD

reducing a long position

1,869

5.4174 GBP

32 17/19p ordinary

CFD

reducing a long position

12,859

5.4177 GBP

32 17/19p ordinary

CFD

reducing a long position

2,814

5.4180 GBP

32 17/19p ordinary

CFD

reducing a long position

24,680

5.4180 GBP

32 17/19p ordinary

CFD

reducing a long position

5,757

5.4185 GBP

32 17/19p ordinary

CFD

reducing a long position

424

5.4209 GBP

32 17/19p ordinary

CFD

reducing a long position

214,504

5.4213 GBP

32 17/19p ordinary

CFD

reducing a long position

732

5.4216 GBP

32 17/19p ordinary

CFD

reducing a long position

16,546

5.4216 GBP

32 17/19p ordinary

CFD

reducing a long position

13,260

5.4220 GBP

32 17/19p ordinary

CFD

reducing a long position

54,809

5.4222 GBP

32 17/19p ordinary

CFD

reducing a short position

564

5.3560 GBP

32 17/19p ordinary

CFD

reducing a short position

427

5.3770 GBP

32 17/19p ordinary

CFD

reducing a short position

19

5.3863 GBP

32 17/19p ordinary

CFD

reducing a short position

97,733

5.4001 GBP

32 17/19p ordinary

CFD

reducing a short position

2,114

5.4002 GBP

32 17/19p ordinary

CFD

reducing a short position

17,322

5.4005 GBP

32 17/19p ordinary

CFD

reducing a short position

66,285

5.4042 GBP

32 17/19p ordinary

CFD

reducing a short position

22

5.4059 GBP

32 17/19p ordinary

CFD

reducing a short position

63,434

5.4059 GBP

32 17/19p ordinary

CFD

reducing a short position

7

5.4059 GBP

32 17/19p ordinary

CFD

reducing a short position

6,200

5.4067 GBP

32 17/19p ordinary

CFD

reducing a short position

65,200

5.4067 GBP

32 17/19p ordinary

CFD

reducing a short position

33,800

5.4067 GBP

32 17/19p ordinary

CFD

reducing a short position

900

5.4067 GBP

32 17/19p ordinary

CFD

reducing a short position

72,200

5.4067 GBP

32 17/19p ordinary

CFD

reducing a short position

7,800

5.4067 GBP

32 17/19p ordinary

CFD

reducing a short position

248,400

5.4067 GBP

32 17/19p ordinary

CFD

reducing a short position

9,759

5.4115 GBP

32 17/19p ordinary

CFD

reducing a short position

168,000

5.4126 GBP

32 17/19p ordinary

CFD

reducing a short position

25,601

5.4127 GBP

32 17/19p ordinary

CFD

reducing a short position

224,395

5.4132 GBP

32 17/19p ordinary

CFD

reducing a short position

1,212

5.4132 GBP

32 17/19p ordinary

CFD

reducing a short position

2,567

5.4132 GBP

32 17/19p ordinary

CFD

reducing a short position

298

5.4132 GBP

32 17/19p ordinary

CFD

reducing a short position

253,048

5.4135 GBP

32 17/19p ordinary

CFD

reducing a short position

600

5.4144 GBP

32 17/19p ordinary

CFD

reducing a short position

14,875

5.4179 GBP

32 17/19p ordinary

CFD

reducing a short position

4,882

5.4179 GBP

32 17/19p ordinary

CFD

reducing a short position

2,978

5.4180 GBP

32 17/19p ordinary

CFD

reducing a short position

14,267

5.4180 GBP

32 17/19p ordinary

CFD

reducing a short position

39,166

5.4180 GBP

32 17/19p ordinary

CFD

reducing a short position

1,200

5.4183 GBP

32 17/19p ordinary

CFD

reducing a short position

27,485

5.4241 GBP

32 17/19p ordinary

CFD

reducing a short position

2,779

5.4282 GBP

32 17/19p ordinary

CFD

reducing a short position

1,235

5.4282 GBP

32 17/19p ordinary

CFD

reducing a short position

6,330

5.4286 GBP

32 17/19p ordinary

CFD

reducing a short position

2,816

5.4286 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:

11 March 2025
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.

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