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

Morgan Stanley & Co. Int'l plc
13 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:

12 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

PURCHASES

888,093

2.2590 GBP

2.2260 GBP

Ordinary 10 10/11p

SALES

461,689

2.2600 GBP

2.2250 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

1,710

2.2334 GBP

Ordinary 10 10/11p

CFD

increasing a long position

32

2.2370 GBP

Ordinary 10 10/11p

CFD

increasing a long position

42

2.2515 GBP

Ordinary 10 10/11p

CFD

increasing a long position

333

2.2549 GBP

Ordinary 10 10/11p

CFD

increasing a short position

65,884

2.2362 GBP

Ordinary 10 10/11p

CFD

increasing a short position

100,433

2.2362 GBP

Ordinary 10 10/11p

CFD

increasing a short position

12,972

2.2362 GBP

Ordinary 10 10/11p

CFD

increasing a short position

20,711

2.2362 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,764

2.2405 GBP

Ordinary 10 10/11p

CFD

increasing a short position

21,274

2.2406 GBP

Ordinary 10 10/11p

CFD

increasing a short position

300

2.2452 GBP

Ordinary 10 10/11p

CFD

increasing a short position

250,089

2.2459 GBP

Ordinary 10 10/11p

CFD

increasing a short position

66

2.2464 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1,813

2.2469 GBP

Ordinary 10 10/11p

CFD

increasing a short position

112,467

2.2470 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,005

2.2473 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,258

2.2491 GBP

Ordinary 10 10/11p

CFD

increasing a short position

193,691

2.2508 GBP

Ordinary 10 10/11p

CFD

increasing a short position

249

2.2513 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,480

2.2538 GBP

Ordinary 10 10/11p

CFD

increasing a short position

127

2.2559 GBP

Ordinary 10 10/11p

CFD

increasing a short position

189

2.2566 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,698

2.2580 GBP

Ordinary 10 10/11p

CFD

increasing a short position

16,115

2.2580 GBP

Ordinary 10 10/11p

CFD

increasing a short position

56,421

2.2580 GBP

Ordinary 10 10/11p

CFD

increasing a short position

103,133

2.2582 GBP

Ordinary 10 10/11p

CFD

reducing a long position

15,648

2.2448 GBP

Ordinary 10 10/11p

CFD

reducing a long position

1,710

2.2467 GBP

Ordinary 10 10/11p

CFD

reducing a long position

88

2.2473 GBP

Ordinary 10 10/11p

CFD

reducing a long position

35,645

2.2476 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,600

2.2499 GBP

Ordinary 10 10/11p

CFD

reducing a long position

22,650

2.2499 GBP

Ordinary 10 10/11p

CFD

reducing a long position

17,127

2.2537 GBP

Ordinary 10 10/11p

CFD

reducing a long position

11,410

2.2574 GBP

Ordinary 10 10/11p

CFD

reducing a long position

316

2.2580 GBP

Ordinary 10 10/11p

CFD

reducing a long position

667

2.2580 GBP

Ordinary 10 10/11p

CFD

reducing a long position

105

2.2580 GBP

Ordinary 10 10/11p

CFD

reducing a short position

15,252

2.2329 GBP

Ordinary 10 10/11p

CFD

reducing a short position

567

2.2337 GBP

Ordinary 10 10/11p

CFD

reducing a short position

3,983

2.2370 GBP

Ordinary 10 10/11p

CFD

reducing a short position

7,916

2.2378 GBP

Ordinary 10 10/11p

CFD

reducing a short position

987

2.2393 GBP

Ordinary 10 10/11p

CFD

reducing a short position

6,789

2.2394 GBP

Ordinary 10 10/11p

CFD

reducing a short position

14,666

2.2409 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8,928

2.2419 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,500

2.2424 GBP

Ordinary 10 10/11p

CFD

reducing a short position

11

2.2427 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,630

2.2436 GBP

Ordinary 10 10/11p

CFD

reducing a short position

56

2.2459 GBP

Ordinary 10 10/11p

CFD

reducing a short position

14,721

2.2477 GBP

Ordinary 10 10/11p

CFD

reducing a short position

626

2.2503 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,017

2.2524 GBP

Ordinary 10 10/11p

CFD

reducing a short position

117,505

2.2534 GBP

Ordinary 10 10/11p

CFD

reducing a short position

619

2.2549 GBP

Ordinary 10 10/11p

CFD

reducing a short position

3,503

2.2563 GBP

Ordinary 10 10/11p

CFD

reducing a short position

7,622

2.2580 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,924

2.2580 GBP

Ordinary 10 10/11p

CFD

reducing a short position

626

2.2580 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,947

2.2580 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,454

2.2580 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:

13 March 2024

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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