RNS Number : 3444W
Morgan Stanley & Co. Int'l plc
07 February 2025
 

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:

06 February 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

1,682,601

5.1680 GBP

5.0980 GBP

32 17/19p ordinary

SALES

1,501,691

5.1680 GBP

5.0780 GBP

32 17/19p ordinary

PURCHASES

22,639

6.1666 EUR

6.1666 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

4,378

5.1291 GBP

32 17/19p ordinary

CFD

increasing a long position

19,258

5.1351 GBP

32 17/19p ordinary

CFD

increasing a long position

2,684

5.1373 GBP

32 17/19p ordinary

CFD

increasing a long position

717

5.1389 GBP

32 17/19p ordinary

CFD

increasing a long position

24,987

5.1433 GBP

32 17/19p ordinary

CFD

increasing a long position

6,131

5.1442 GBP

32 17/19p ordinary

CFD

increasing a long position

27,827

5.1447 GBP

32 17/19p ordinary

CFD

increasing a long position

5,610

5.1454 GBP

32 17/19p ordinary

CFD

increasing a long position

1,967

5.1458 GBP

32 17/19p ordinary

CFD

increasing a long position

4,250

5.1488 GBP

32 17/19p ordinary

CFD

increasing a long position

212

5.1501 GBP

32 17/19p ordinary

CFD

increasing a long position

3,755

5.1509 GBP

32 17/19p ordinary

CFD

increasing a long position

3,535

5.1525 GBP

32 17/19p ordinary

CFD

increasing a long position

29,000

5.1528 GBP

32 17/19p ordinary

CFD

increasing a long position

34,741

5.1540 GBP

32 17/19p ordinary

CFD

increasing a short position

3,561

5.1000 GBP

32 17/19p ordinary

CFD

increasing a short position

5,900

5.1366 GBP

32 17/19p ordinary

CFD

increasing a short position

4,006

5.1401 GBP

32 17/19p ordinary

CFD

increasing a short position

2,558

5.1414 GBP

32 17/19p ordinary

CFD

increasing a short position

394

5.1420 GBP

32 17/19p ordinary

CFD

increasing a short position

1,522

5.1420 GBP

32 17/19p ordinary

CFD

increasing a short position

11,777

5.1420 GBP

32 17/19p ordinary

CFD

increasing a short position

19,688

5.1420 GBP

32 17/19p ordinary

CFD

increasing a short position

9,037

5.1425 GBP

32 17/19p ordinary

CFD

increasing a short position

2,005

5.1427 GBP

32 17/19p ordinary

CFD

increasing a short position

20

5.1434 GBP

32 17/19p ordinary

CFD

increasing a short position

539

5.1434 GBP

32 17/19p ordinary

CFD

increasing a short position

55

5.1434 GBP

32 17/19p ordinary

CFD

increasing a short position

19,752

5.1434 GBP

32 17/19p ordinary

CFD

increasing a short position

13,939

5.1449 GBP

32 17/19p ordinary

CFD

increasing a short position

43,865

5.1450 GBP

32 17/19p ordinary

CFD

increasing a short position

1,281

5.1453 GBP

32 17/19p ordinary

CFD

increasing a short position

8,806

5.1456 GBP

32 17/19p ordinary

CFD

increasing a short position

33,978

5.1456 GBP

32 17/19p ordinary

CFD

increasing a short position

80,000

5.1461 GBP

32 17/19p ordinary

CFD

increasing a short position

991

5.1520 GBP

32 17/19p ordinary

CFD

increasing a short position

575

5.1536 GBP

32 17/19p ordinary

CFD

increasing a short position

106

5.1572 GBP

32 17/19p ordinary

CFD

reducing a long position

4,378

5.1277 GBP

32 17/19p ordinary

CFD

reducing a long position

2,684

5.1342 GBP

32 17/19p ordinary

CFD

reducing a long position

212

5.1401 GBP

32 17/19p ordinary

CFD

reducing a long position

10,578

5.1420 GBP

32 17/19p ordinary

CFD

reducing a long position

649

5.1420 GBP

32 17/19p ordinary

CFD

reducing a long position

594

5.1420 GBP

32 17/19p ordinary

CFD

reducing a long position

3,477

5.1420 GBP

32 17/19p ordinary

CFD

reducing a long position

6,725

5.1437 GBP

32 17/19p ordinary

CFD

reducing a long position

22,639

5.1442 GBP

32 17/19p ordinary

CFD

reducing a long position

717

5.1442 GBP

32 17/19p ordinary

CFD

reducing a long position

23,769

5.1446 GBP

32 17/19p ordinary

CFD

reducing a long position

6,595

5.1450 GBP

32 17/19p ordinary

CFD

reducing a long position

4,426

5.1465 GBP

32 17/19p ordinary

CFD

reducing a long position

241

5.1501 GBP

32 17/19p ordinary

CFD

reducing a long position

138

5.1520 GBP

32 17/19p ordinary

CFD

reducing a long position

1,627

5.1521 GBP

32 17/19p ordinary

CFD

reducing a long position

897

5.1581 GBP

32 17/19p ordinary

CFD

reducing a short position

43,865

5.1351 GBP

32 17/19p ordinary

CFD

reducing a short position

1,410

5.1405 GBP

32 17/19p ordinary

CFD

reducing a short position

1,139

5.1415 GBP

32 17/19p ordinary

CFD

reducing a short position

29,839

5.1419 GBP

32 17/19p ordinary

CFD

reducing a short position

1

5.1420 GBP

32 17/19p ordinary

CFD

reducing a short position

13,058

5.1420 GBP

32 17/19p ordinary

CFD

reducing a short position

363

5.1420 GBP

32 17/19p ordinary

CFD

reducing a short position

34,883

5.1420 GBP

32 17/19p ordinary

CFD

reducing a short position

573

5.1428 GBP

32 17/19p ordinary

CFD

reducing a short position

2,912

5.1440 GBP

32 17/19p ordinary

CFD

reducing a short position

342

5.1440 GBP

32 17/19p ordinary

CFD

reducing a short position

1,425

5.1446 GBP

32 17/19p ordinary

CFD

reducing a short position

991

5.1458 GBP

32 17/19p ordinary

CFD

reducing a short position

23,990

5.1493 GBP

32 17/19p ordinary

CFD

reducing a short position

823

5.1501 GBP

32 17/19p ordinary

CFD

reducing a short position

343

5.1504 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:

07 February 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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