RNS Number : 6692W
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

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:

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- 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

3,137,894

5.1440 GBP

5.0620 GBP

32 17/19p ordinary

SALES

2,785,548

5.1440 GBP

5.0626 GBP

32 17/19p ordinary

PURCHASES

112,150

6.0924 EUR

6.0924 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

1,057

5.0705 GBP

32 17/19p ordinary

CFD

increasing a long position

504

5.0705 GBP

32 17/19p ordinary

CFD

increasing a long position

1,684

5.0705 GBP

32 17/19p ordinary

CFD

increasing a long position

3,234

5.0705 GBP

32 17/19p ordinary

CFD

increasing a long position

12,089

5.0705 GBP

32 17/19p ordinary

CFD

increasing a long position

2,560

5.0709 GBP

32 17/19p ordinary

CFD

increasing a long position

4,543

5.0712 GBP

32 17/19p ordinary

CFD

increasing a long position

8,726

5.0712 GBP

32 17/19p ordinary

CFD

increasing a long position

1,360

5.0712 GBP

32 17/19p ordinary

CFD

increasing a long position

2,852

5.0712 GBP

32 17/19p ordinary

CFD

increasing a long position

32,609

5.0712 GBP

32 17/19p ordinary

CFD

increasing a long position

3,631

5.0716 GBP

32 17/19p ordinary

CFD

increasing a long position

566

5.0716 GBP

32 17/19p ordinary

CFD

increasing a long position

1,187

5.0716 GBP

32 17/19p ordinary

CFD

increasing a long position

13,567

5.0716 GBP

32 17/19p ordinary

CFD

increasing a long position

1,891

5.0716 GBP

32 17/19p ordinary

CFD

increasing a long position

1,371

5.0721 GBP

32 17/19p ordinary

CFD

increasing a long position

861

5.0721 GBP

32 17/19p ordinary

CFD

increasing a long position

2,633

5.0721 GBP

32 17/19p ordinary

CFD

increasing a long position

410

5.0721 GBP

32 17/19p ordinary

CFD

increasing a long position

9,843

5.0721 GBP

32 17/19p ordinary

CFD

increasing a long position

4,163

5.0741 GBP

32 17/19p ordinary

CFD

increasing a long position

15,560

5.0741 GBP

32 17/19p ordinary

CFD

increasing a long position

649

5.0741 GBP

32 17/19p ordinary

CFD

increasing a long position

1,360

5.0741 GBP

32 17/19p ordinary

CFD

increasing a long position

2,167

5.0741 GBP

32 17/19p ordinary

CFD

increasing a long position

2,327

5.0743 GBP

32 17/19p ordinary

CFD

increasing a long position

7,766

5.0743 GBP

32 17/19p ordinary

CFD

increasing a long position

14,913

5.0743 GBP

32 17/19p ordinary

CFD

increasing a long position

55,724

5.0743 GBP

32 17/19p ordinary

CFD

increasing a long position

4,875

5.0743 GBP

32 17/19p ordinary

CFD

increasing a long position

134

5.0756 GBP

32 17/19p ordinary

CFD

increasing a long position

1,538

5.0756 GBP

32 17/19p ordinary

CFD

increasing a long position

214

5.0756 GBP

32 17/19p ordinary

CFD

increasing a long position

411

5.0756 GBP

32 17/19p ordinary

CFD

increasing a long position

64

5.0756 GBP

32 17/19p ordinary

CFD

increasing a long position

2,632

5.0757 GBP

32 17/19p ordinary

CFD

increasing a long position

788

5.0757 GBP

32 17/19p ordinary

CFD

increasing a long position

1,652

5.0757 GBP

32 17/19p ordinary

CFD

increasing a long position

18,890

5.0757 GBP

32 17/19p ordinary

CFD

increasing a long position

5,055

5.0757 GBP

32 17/19p ordinary

CFD

increasing a long position

1,170

5.0781 GBP

32 17/19p ordinary

CFD

increasing a long position

8,398

5.0781 GBP

32 17/19p ordinary

CFD

increasing a long position

2,247

5.0781 GBP

32 17/19p ordinary

CFD

increasing a long position

350

5.0781 GBP

32 17/19p ordinary

CFD

increasing a long position

734

5.0781 GBP

32 17/19p ordinary

CFD

increasing a long position

636

5.0787 GBP

32 17/19p ordinary

CFD

increasing a long position

26

5.0787 GBP

32 17/19p ordinary

CFD

increasing a long position

170

5.0787 GBP

32 17/19p ordinary

CFD

increasing a long position

55

5.0787 GBP

32 17/19p ordinary

CFD

increasing a long position

88

5.0787 GBP

32 17/19p ordinary

CFD

increasing a long position

3,964

5.0857 GBP

32 17/19p ordinary

CFD

increasing a long position

2,063

5.0857 GBP

32 17/19p ordinary

CFD

increasing a long position

1,295

5.0857 GBP

32 17/19p ordinary

CFD

increasing a long position

14,813

5.0857 GBP

32 17/19p ordinary

CFD

increasing a long position

618

5.0857 GBP

32 17/19p ordinary

CFD

increasing a long position

13,667

5.0867 GBP

32 17/19p ordinary

CFD

increasing a long position

51,073

5.0867 GBP

32 17/19p ordinary

CFD

increasing a long position

4,467

5.0867 GBP

32 17/19p ordinary

CFD

increasing a long position

2,130

5.0867 GBP

32 17/19p ordinary

CFD

increasing a long position

7,115

5.0867 GBP

32 17/19p ordinary

CFD

increasing a long position

2,562

5.0895 GBP

32 17/19p ordinary

CFD

increasing a long position

9,578

5.0895 GBP

32 17/19p ordinary

CFD

increasing a long position

1,334

5.0895 GBP

32 17/19p ordinary

CFD

increasing a long position

837

5.0895 GBP

32 17/19p ordinary

CFD

increasing a long position

399

5.0895 GBP

32 17/19p ordinary

CFD

increasing a short position

65

5.0694 GBP

32 17/19p ordinary

CFD

increasing a short position

1,082

5.0720 GBP

32 17/19p ordinary

CFD

increasing a short position

118,650

5.0720 GBP

32 17/19p ordinary

CFD

increasing a short position

493

5.0720 GBP

32 17/19p ordinary

CFD

increasing a short position

1,495

5.0720 GBP

32 17/19p ordinary

CFD

increasing a short position

14,931

5.0720 GBP

32 17/19p ordinary

CFD

increasing a short position

4,865

5.0720 GBP

32 17/19p ordinary

CFD

increasing a short position

35,016

5.0723 GBP

32 17/19p ordinary

CFD

increasing a short position

286

5.0744 GBP

32 17/19p ordinary

CFD

increasing a short position

1,149

5.0746 GBP

32 17/19p ordinary

CFD

increasing a short position

81

5.0763 GBP

32 17/19p ordinary

CFD

increasing a short position

256,326

5.0763 GBP

32 17/19p ordinary

CFD

increasing a short position

3,433

5.0763 GBP

32 17/19p ordinary

CFD

increasing a short position

2,034

5.0778 GBP

32 17/19p ordinary

CFD

increasing a short position

32,580

5.0824 GBP

32 17/19p ordinary

CFD

increasing a short position

14,727

5.0836 GBP

32 17/19p ordinary

CFD

increasing a short position

66,168

5.0874 GBP

32 17/19p ordinary

CFD

increasing a short position

1,740

5.0881 GBP

32 17/19p ordinary

CFD

increasing a short position

16,585

5.0896 GBP

32 17/19p ordinary

CFD

increasing a short position

50,289

5.0896 GBP

32 17/19p ordinary

CFD

increasing a short position

33,647

5.0932 GBP

32 17/19p ordinary

CFD

increasing a short position

6,916

5.0963 GBP

32 17/19p ordinary

CFD

increasing a short position

136

5.1009 GBP

32 17/19p ordinary

CFD

increasing a short position

2,757

5.1012 GBP

32 17/19p ordinary

CFD

increasing a short position

6,699

5.1042 GBP

32 17/19p ordinary

CFD

increasing a short position

788

5.1042 GBP

32 17/19p ordinary

CFD

increasing a short position

39,059

5.1078 GBP

32 17/19p ordinary

CFD

increasing a short position

1,060

5.1087 GBP

32 17/19p ordinary

CFD

increasing a short position

289

5.1120 GBP

32 17/19p ordinary

CFD

increasing a short position

3,301

5.1120 GBP

32 17/19p ordinary

CFD

increasing a short position

40,000

5.1124 GBP

32 17/19p ordinary

CFD

increasing a short position

5,019

5.1190 GBP

32 17/19p ordinary

CFD

increasing a short position

7,300

5.1204 GBP

32 17/19p ordinary

CFD

increasing a short position

1,394

5.1331 GBP

32 17/19p ordinary

CFD

increasing a short position

3,048

5.1331 GBP

32 17/19p ordinary

CFD

increasing a short position

1,232

5.1340 GBP

32 17/19p ordinary

CFD

reducing a long position

581

5.0720 GBP

32 17/19p ordinary

CFD

reducing a long position

112,150

5.0726 GBP

32 17/19p ordinary

CFD

reducing a long position

25,275

5.0742 GBP

32 17/19p ordinary

CFD

reducing a long position

2,480

5.0749 GBP

32 17/19p ordinary

CFD

reducing a long position

45,859

5.0788 GBP

32 17/19p ordinary

CFD

reducing a long position

28,151

5.0874 GBP

32 17/19p ordinary

CFD

reducing a long position

155

5.1326 GBP

32 17/19p ordinary

CFD

reducing a short position

1,668

5.0705 GBP

32 17/19p ordinary

CFD

reducing a short position

4,499

5.0712 GBP

32 17/19p ordinary

CFD

reducing a short position

1,872

5.0716 GBP

32 17/19p ordinary

CFD

reducing a short position

412

5.0716 GBP

32 17/19p ordinary

CFD

reducing a short position

4,340

5.0720 GBP

32 17/19p ordinary

CFD

reducing a short position

2,509

5.0720 GBP

32 17/19p ordinary

CFD

reducing a short position

16,671

5.0720 GBP

32 17/19p ordinary

CFD

reducing a short position

1,060

5.0720 GBP

32 17/19p ordinary

CFD

reducing a short position

1,358

5.0721 GBP

32 17/19p ordinary

CFD

reducing a short position

115

5.0734 GBP

32 17/19p ordinary

CFD

reducing a short position

2,147

5.0741 GBP

32 17/19p ordinary

CFD

reducing a short position

26,719

5.0741 GBP

32 17/19p ordinary

CFD

reducing a short position

7,688

5.0743 GBP

32 17/19p ordinary

CFD

reducing a short position

13,900

5.0747 GBP

32 17/19p ordinary

CFD

reducing a short position

212

5.0756 GBP

32 17/19p ordinary

CFD

reducing a short position

2,606

5.0757 GBP

32 17/19p ordinary

CFD

reducing a short position

1,158

5.0781 GBP

32 17/19p ordinary

CFD

reducing a short position

88

5.0787 GBP

32 17/19p ordinary

CFD

reducing a short position

25,754

5.0792 GBP

32 17/19p ordinary

CFD

reducing a short position

289

5.0820 GBP

32 17/19p ordinary

CFD

reducing a short position

505

5.0848 GBP

32 17/19p ordinary

CFD

reducing a short position

2,044

5.0857 GBP

32 17/19p ordinary

CFD

reducing a short position

7,047

5.0867 GBP

32 17/19p ordinary

CFD

reducing a short position

1,321

5.0895 GBP

32 17/19p ordinary

CFD

reducing a short position

6,582

5.0898 GBP

32 17/19p ordinary

CFD

reducing a short position

2,770

5.0924 GBP

32 17/19p ordinary

CFD

reducing a short position

2,757

5.0991 GBP

32 17/19p ordinary

CFD

reducing a short position

1,752

5.1171 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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