RNS Number : 6689W
Morgan Stanley & Co. Int'l plc
11 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

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:

10 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- Aviva 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

10 10/11p ordinary

SALES

2,050,478

2.6926 GBP

2.6620 GBP

10 10/11p ordinary

PURCHASES

359,920

2.6940 GBP

2.6580 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

10 10/11p ordinary

CFD

increasing a long position

201

2.6620 GBP

10 10/11p ordinary

CFD

increasing a long position

119

2.6620 GBP

10 10/11p ordinary

CFD

increasing a long position

9,125

2.6631 GBP

10 10/11p ordinary

CFD

increasing a long position

11,704

2.6706 GBP

10 10/11p ordinary

CFD

increasing a short position

3,486

2.6621 GBP

10 10/11p ordinary

CFD

increasing a short position

16,513

2.6621 GBP

10 10/11p ordinary

CFD

increasing a short position

5,299

2.6621 GBP

10 10/11p ordinary

CFD

increasing a short position

1,726

2.6622 GBP

10 10/11p ordinary

CFD

increasing a short position

33,532

2.6629 GBP

10 10/11p ordinary

CFD

increasing a short position

303

2.6653 GBP

10 10/11p ordinary

CFD

increasing a short position

1,434

2.6653 GBP

10 10/11p ordinary

CFD

increasing a short position

461

2.6653 GBP

10 10/11p ordinary

CFD

increasing a short position

514

2.6658 GBP

10 10/11p ordinary

CFD

increasing a short position

2,432

2.6658 GBP

10 10/11p ordinary

CFD

increasing a short position

375

2.6658 GBP

10 10/11p ordinary

CFD

increasing a short position

781

2.6658 GBP

10 10/11p ordinary

CFD

increasing a short position

6,812

2.6708 GBP

10 10/11p ordinary

CFD

increasing a short position

1,438

2.6708 GBP

10 10/11p ordinary

CFD

increasing a short position

2,185

2.6708 GBP

10 10/11p ordinary

CFD

increasing a short position

575

2.6720 GBP

10 10/11p ordinary

CFD

increasing a short position

2,724

2.6720 GBP

10 10/11p ordinary

CFD

increasing a short position

873

2.6720 GBP

10 10/11p ordinary

CFD

increasing a short position

580

2.6723 GBP

10 10/11p ordinary

CFD

increasing a short position

185

2.6723 GBP

10 10/11p ordinary

CFD

increasing a short position

122

2.6723 GBP

10 10/11p ordinary

CFD

increasing a short position

38

2.6739 GBP

10 10/11p ordinary

CFD

increasing a short position

121

2.6740 GBP

10 10/11p ordinary

CFD

increasing a short position

25

2.6740 GBP

10 10/11p ordinary

CFD

increasing a short position

123

2.6771 GBP

10 10/11p ordinary

CFD

increasing a short position

579

2.6771 GBP

10 10/11p ordinary

CFD

increasing a short position

188

2.6771 GBP

10 10/11p ordinary

CFD

increasing a short position

2,165

2.6789 GBP

10 10/11p ordinary

CFD

increasing a short position

695

2.6789 GBP

10 10/11p ordinary

CFD

increasing a short position

458

2.6789 GBP

10 10/11p ordinary

CFD

increasing a short position

595

2.6794 GBP

10 10/11p ordinary

CFD

increasing a short position

2,814

2.6794 GBP

10 10/11p ordinary

CFD

increasing a short position

904

2.6794 GBP

10 10/11p ordinary

CFD

increasing a short position

677

2.6862 GBP

10 10/11p ordinary

CFD

increasing a short position

142

2.6862 GBP

10 10/11p ordinary

CFD

increasing a short position

217

2.6862 GBP

10 10/11p ordinary

CFD

reducing a long position

3

2.6620 GBP

10 10/11p ordinary

CFD

reducing a long position

3,986

2.6623 GBP

10 10/11p ordinary

CFD

reducing a long position

3

2.6633 GBP

10 10/11p ordinary

CFD

reducing a long position

15,823

2.6680 GBP

10 10/11p ordinary

CFD

reducing a long position

13,546

2.6680 GBP

10 10/11p ordinary

CFD

reducing a long position

3,028

2.6688 GBP

10 10/11p ordinary

CFD

reducing a long position

5,587

2.6692 GBP

10 10/11p ordinary

CFD

reducing a long position

18,836

2.6706 GBP

10 10/11p ordinary

CFD

reducing a short position

123

2.6620 GBP

10 10/11p ordinary

CFD

reducing a short position

33,532

2.6620 GBP

10 10/11p ordinary

CFD

reducing a short position

172,569

2.6629 GBP

10 10/11p ordinary

CFD

reducing a short position

26,910

2.6636 GBP

10 10/11p ordinary

CFD

reducing a short position

1,426

2.6638 GBP

10 10/11p ordinary

CFD

reducing a short position

9,607

2.6658 GBP

10 10/11p ordinary

CFD

reducing a short position

552

2.6660 GBP

10 10/11p ordinary

CFD

reducing a short position

71,811

2.6751 GBP

10 10/11p ordinary

CFD

reducing a short position

1,494,508

2.6838 GBP

10 10/11p ordinary

CFD

reducing a short position

541

2.6927 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 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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