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

Morgan Stanley & Co. Int'l plc
14 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:

13 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

12,943,415

2.3610 GBP

2.0650 GBP

Ordinary 10 10/11p

PURCHASES

3,346,158

2.3750 GBP

2.0650 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

6,000

2.0650 GBP

Ordinary 10 10/11p

CFD

increasing a long position

16,882

2.1298 GBP

Ordinary 10 10/11p

CFD

increasing a long position

21,920

2.1374 GBP

Ordinary 10 10/11p

CFD

increasing a long position

30,089

2.1416 GBP

Ordinary 10 10/11p

CFD

increasing a long position

499,345

2.1564 GBP

Ordinary 10 10/11p

CFD

increasing a long position

6,075

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,415

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a long position

3,179

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a long position

54,781

2.1611 GBP

Ordinary 10 10/11p

CFD

increasing a long position

4,010

2.1827 GBP

Ordinary 10 10/11p

CFD

increasing a long position

141,731

2.1887 GBP

Ordinary 10 10/11p

CFD

increasing a long position

423

2.2520 GBP

Ordinary 10 10/11p

CFD

increasing a long position

1,152

2.2543 GBP

Ordinary 10 10/11p

CFD

increasing a long position

7,034,625

2.2900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

502

2.1213 GBP

Ordinary 10 10/11p

CFD

increasing a short position

9,967

2.1230 GBP

Ordinary 10 10/11p

CFD

increasing a short position

15,940

2.1231 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7

2.1291 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,167

2.1301 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,332

2.1318 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1

2.1326 GBP

Ordinary 10 10/11p

CFD

increasing a short position

36,595

2.1333 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,398

2.1336 GBP

Ordinary 10 10/11p

CFD

increasing a short position

137,038

2.1354 GBP

Ordinary 10 10/11p

CFD

increasing a short position

85,823

2.1396 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1

2.1400 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,943

2.1424 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,064

2.1426 GBP

Ordinary 10 10/11p

CFD

increasing a short position

129

2.1430 GBP

Ordinary 10 10/11p

CFD

increasing a short position

420

2.1435 GBP

Ordinary 10 10/11p

CFD

increasing a short position

44,249

2.1447 GBP

Ordinary 10 10/11p

CFD

increasing a short position

74,178

2.1448 GBP

Ordinary 10 10/11p

CFD

increasing a short position

9,127

2.1469 GBP

Ordinary 10 10/11p

CFD

increasing a short position

36,012

2.1484 GBP

Ordinary 10 10/11p

CFD

increasing a short position

347,998

2.1488 GBP

Ordinary 10 10/11p

CFD

increasing a short position

18,830

2.1533 GBP

Ordinary 10 10/11p

CFD

increasing a short position

15,310

2.1538 GBP

Ordinary 10 10/11p

CFD

increasing a short position

423

2.1549 GBP

Ordinary 10 10/11p

CFD

increasing a short position

77,076

2.1554 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,571

2.1555 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,266

2.1585 GBP

Ordinary 10 10/11p

CFD

increasing a short position

41,682

2.1590 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,050

2.1592 GBP

Ordinary 10 10/11p

CFD

increasing a short position

21,907

2.1598 GBP

Ordinary 10 10/11p

CFD

increasing a short position

16,361

2.1598 GBP

Ordinary 10 10/11p

CFD

increasing a short position

33,545

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a short position

180

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a short position

10,627

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,203

2.1602 GBP

Ordinary 10 10/11p

CFD

increasing a short position

345,563

2.1613 GBP

Ordinary 10 10/11p

CFD

increasing a short position

170,796

2.1618 GBP

Ordinary 10 10/11p

CFD

increasing a short position

71,778

2.1619 GBP

Ordinary 10 10/11p

CFD

increasing a short position

45,182

2.1689 GBP

Ordinary 10 10/11p

CFD

increasing a short position

50,988

2.1809 GBP

Ordinary 10 10/11p

CFD

increasing a short position

30,927

2.1821 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,680

2.1950 GBP

Ordinary 10 10/11p

CFD

increasing a short position

88,132

2.2110 GBP

Ordinary 10 10/11p

CFD

increasing a short position

44,247

2.2207 GBP

Ordinary 10 10/11p

CFD

increasing a short position

151,117

2.2260 GBP

Ordinary 10 10/11p

CFD

increasing a short position

200

2.2565 GBP

Ordinary 10 10/11p

CFD

increasing a short position

359

2.2570 GBP

Ordinary 10 10/11p

CFD

increasing a short position

360

2.2590 GBP

Ordinary 10 10/11p

CFD

increasing a short position

13,515

2.3178 GBP

Ordinary 10 10/11p

CFD

reducing a long position

6,000

2.0709 GBP

Ordinary 10 10/11p

CFD

reducing a long position

38,032

2.1334 GBP

Ordinary 10 10/11p

CFD

reducing a long position

143,886

2.1348 GBP

Ordinary 10 10/11p

CFD

reducing a long position

54,781

2.1448 GBP

Ordinary 10 10/11p

CFD

reducing a long position

6,590

2.1529 GBP

Ordinary 10 10/11p

CFD

reducing a long position

816

2.1533 GBP

Ordinary 10 10/11p

CFD

reducing a long position

69

2.1599 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,010

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a long position

10,586

2.1615 GBP

Ordinary 10 10/11p

CFD

reducing a long position

1,216

2.1615 GBP

Ordinary 10 10/11p

CFD

reducing a long position

18,645

2.2092 GBP

Ordinary 10 10/11p

CFD

reducing a short position

115,428

2.0878 GBP

Ordinary 10 10/11p

CFD

reducing a short position

22,297

2.0878 GBP

Ordinary 10 10/11p

CFD

reducing a short position

174,673

2.0878 GBP

Ordinary 10 10/11p

CFD

reducing a short position

35,600

2.0878 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.1008 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,918

2.1096 GBP

Ordinary 10 10/11p

CFD

reducing a short position

22,156

2.1186 GBP

Ordinary 10 10/11p

CFD

reducing a short position

335,271

2.1190 GBP

Ordinary 10 10/11p

CFD

reducing a short position

399,898

2.1264 GBP

Ordinary 10 10/11p

CFD

reducing a short position

17,232

2.1267 GBP

Ordinary 10 10/11p

CFD

reducing a short position

347,000

2.1272 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,042

2.1298 GBP

Ordinary 10 10/11p

CFD

reducing a short position

363,680

2.1311 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,570

2.1359 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,859

2.1385 GBP

Ordinary 10 10/11p

CFD

reducing a short position

22,344

2.1416 GBP

Ordinary 10 10/11p

CFD

reducing a short position

698,610

2.1445 GBP

Ordinary 10 10/11p

CFD

reducing a short position

630,561

2.1445 GBP

Ordinary 10 10/11p

CFD

reducing a short position

108,442

2.1445 GBP

Ordinary 10 10/11p

CFD

reducing a short position

74,178

2.1466 GBP

Ordinary 10 10/11p

CFD

reducing a short position

127,591

2.1474 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,078

2.1535 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9,520

2.1598 GBP

Ordinary 10 10/11p

CFD

reducing a short position

204,156

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

16,803

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

847

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

144,803

2.1685 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.1700 GBP

Ordinary 10 10/11p

CFD

reducing a short position

42,218

2.1827 GBP

Ordinary 10 10/11p

CFD

reducing a short position

136,823

2.1833 GBP

Ordinary 10 10/11p

CFD

reducing a short position

15,295

2.1857 GBP

Ordinary 10 10/11p

CFD

reducing a short position

332,967

2.1857 GBP

Ordinary 10 10/11p

CFD

reducing a short position

81,175

2.1857 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,204

2.1857 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,677

2.1857 GBP

Ordinary 10 10/11p

CFD

reducing a short position

5,540

2.1857 GBP

Ordinary 10 10/11p

CFD

reducing a short position

151,117

2.2275 GBP

Ordinary 10 10/11p

CFD

reducing a short position

911

2.2448 GBP

Ordinary 10 10/11p

CFD

reducing a short position

78

2.2448 GBP

Ordinary 10 10/11p

CFD

reducing a short position

38,246

2.2448 GBP

Ordinary 10 10/11p

CFD

reducing a short position

231

2.2448 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8

2.2540 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.2540 GBP

Ordinary 10 10/11p

CFD

reducing a short position

14,731

2.2543 GBP

Ordinary 10 10/11p

CFD

reducing a short position

470

2.2549 GBP

Ordinary 10 10/11p

CFD

reducing a short position

300

2.2959 GBP

Ordinary 10 10/11p

CFD

reducing a short position

100

2.3648 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:

14 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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