Form 8.5 (EPT/RI)- Direct Line Insurance Group plc

Morgan Stanley & Co. Int'l plc

05 March 2024

 

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:	04 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	SALES	1,791,664	2.1550 GBP	2.0760 GBP
Ordinary 10 10/11p	PURCHASES	1,610,164	2.1570 GBP	2.0780 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	710	2.0980 GBP
Ordinary 10 10/11p	CFD	increasing a long position	20,225	2.0980 GBP
Ordinary 10 10/11p	CFD	increasing a long position	18,072	2.0987 GBP
Ordinary 10 10/11p	CFD	increasing a long position	10,615	2.0991 GBP
Ordinary 10 10/11p	CFD	increasing a long position	23,956	2.1038 GBP
Ordinary 10 10/11p	CFD	increasing a long position	3,990	2.1046 GBP
Ordinary 10 10/11p	CFD	increasing a long position	11,927	2.1103 GBP
Ordinary 10 10/11p	CFD	increasing a long position	11,766	2.1110 GBP
Ordinary 10 10/11p	CFD	increasing a long position	9,757	2.1203 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,121	2.1203 GBP
Ordinary 10 10/11p	CFD	increasing a long position	15,094	2.1204 GBP
Ordinary 10 10/11p	CFD	increasing a long position	733	2.1331 GBP
Ordinary 10 10/11p	CFD	increasing a long position	4,080	2.1403 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,100	2.1440 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,180	2.0887 GBP
Ordinary 10 10/11p	CFD	increasing a short position	34,948	2.0980 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,698	2.0980 GBP
Ordinary 10 10/11p	CFD	increasing a short position	400	2.0980 GBP
Ordinary 10 10/11p	CFD	increasing a short position	75,321	2.0980 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,970	2.0988 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,915	2.0999 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,233	2.1030 GBP
Ordinary 10 10/11p	CFD	increasing a short position	22,869	2.1061 GBP
Ordinary 10 10/11p	CFD	increasing a short position	46,204	2.1079 GBP
Ordinary 10 10/11p	CFD	increasing a short position	34,367	2.1097 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,382	2.1101 GBP
Ordinary 10 10/11p	CFD	increasing a short position	19,206	2.1138 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,389	2.1150 GBP
Ordinary 10 10/11p	CFD	increasing a short position	14,725	2.1164 GBP
Ordinary 10 10/11p	CFD	increasing a short position	53,793	2.1168 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,000	2.1190 GBP
Ordinary 10 10/11p	CFD	increasing a short position	8,057	2.1243 GBP
Ordinary 10 10/11p	CFD	increasing a short position	83,350	2.1262 GBP
Ordinary 10 10/11p	CFD	increasing a short position	17,210	2.1307 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,400	2.1482 GBP
Ordinary 10 10/11p	CFD	increasing a short position	100	2.1482 GBP
Ordinary 10 10/11p	CFD	reducing a long position	523	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a long position	193	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a long position	12,877	2.0981 GBP
Ordinary 10 10/11p	CFD	reducing a long position	4,348	2.0981 GBP
Ordinary 10 10/11p	CFD	reducing a long position	6,477	2.0981 GBP
Ordinary 10 10/11p	CFD	reducing a long position	34,874	2.0981 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,373	2.0981 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,586	2.0981 GBP
Ordinary 10 10/11p	CFD	reducing a long position	3,238	2.0988 GBP
Ordinary 10 10/11p	CFD	reducing a long position	18,072	2.0989 GBP
Ordinary 10 10/11p	CFD	reducing a long position	6,398	2.1043 GBP
Ordinary 10 10/11p	CFD	reducing a long position	17,161	2.1050 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,036	2.1112 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,820	2.1299 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,100	2.1470 GBP
Ordinary 10 10/11p	CFD	reducing a short position	16	2.0760 GBP
Ordinary 10 10/11p	CFD	reducing a short position	5,684	2.0778 GBP
Ordinary 10 10/11p	CFD	reducing a short position	539	2.0820 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,736	2.0834 GBP
Ordinary 10 10/11p	CFD	reducing a short position	605	2.0866 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,942	2.0933 GBP
Ordinary 10 10/11p	CFD	reducing a short position	17,138	2.0979 GBP
Ordinary 10 10/11p	CFD	reducing a short position	92	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a short position	61,359	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,146	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,572	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10,450	2.0987 GBP
Ordinary 10 10/11p	CFD	reducing a short position	11,499	2.0991 GBP
Ordinary 10 10/11p	CFD	reducing a short position	15,396	2.0991 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,107	2.1004 GBP
Ordinary 10 10/11p	CFD	reducing a short position	205,247	2.1006 GBP
Ordinary 10 10/11p	CFD	reducing a short position	369	2.1019 GBP
Ordinary 10 10/11p	CFD	reducing a short position	14,701	2.1022 GBP
Ordinary 10 10/11p	CFD	reducing a short position	157,475	2.1031 GBP
Ordinary 10 10/11p	CFD	reducing a short position	18	2.1038 GBP
Ordinary 10 10/11p	CFD	reducing a short position	36,135	2.1040 GBP
Ordinary 10 10/11p	CFD	reducing a short position	70,485	2.1048 GBP
Ordinary 10 10/11p	CFD	reducing a short position	467	2.1049 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,231	2.1074 GBP
Ordinary 10 10/11p	CFD	reducing a short position	26	2.1087 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,970	2.1103 GBP
Ordinary 10 10/11p	CFD	reducing a short position	32,144	2.1111 GBP
Ordinary 10 10/11p	CFD	reducing a short position	81,432	2.1155 GBP
Ordinary 10 10/11p	CFD	reducing a short position	21,319	2.1179 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.1220 GBP
Ordinary 10 10/11p	CFD	reducing a short position	8	2.1260 GBP
Ordinary 10 10/11p	CFD	reducing a short position	20,702	2.1278 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,504	2.1284 GBP
Ordinary 10 10/11p	CFD	reducing a short position	17,737	2.1408 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:	05 March 2024
Contact name:	Craig Horsley
Telephone number:	[phone]

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 [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END