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

Morgan Stanley & Co. Int'l plc
19 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:

18 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

6,271,413

2.1089 GBP

2.0730 GBP

Ordinary 10 10/11p

PURCHASES

3,401,183

2.1150 GBP

2.0720 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

29,868

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a long position

1,543

2.0930 GBP

Ordinary 10 10/11p

CFD

increasing a long position

40,923

2.0994 GBP

Ordinary 10 10/11p

CFD

increasing a long position

10,286

2.0995 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,939

2.1053 GBP

Ordinary 10 10/11p

CFD

increasing a long position

4,859,770

2.1060 GBP

Ordinary 10 10/11p

CFD

increasing a long position

5,479

2.1082 GBP

Ordinary 10 10/11p

CFD

increasing a short position

35,026

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,312

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

17,566

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

110,529

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

13,739

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,514

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

55,247

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

85,586

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

456,791

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,571

2.0900 GBP

Ordinary 10 10/11p

CFD

increasing a short position

390,523

2.0902 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,179

2.0925 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,981

2.0929 GBP

Ordinary 10 10/11p

CFD

increasing a short position

114,814

2.0930 GBP

Ordinary 10 10/11p

CFD

increasing a short position

102,743

2.0932 GBP

Ordinary 10 10/11p

CFD

increasing a short position

16,137

2.0936 GBP

Ordinary 10 10/11p

CFD

increasing a short position

56,546

2.0943 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7

2.0966 GBP

Ordinary 10 10/11p

CFD

increasing a short position

157,000

2.0973 GBP

Ordinary 10 10/11p

CFD

increasing a short position

21,257

2.0982 GBP

Ordinary 10 10/11p

CFD

increasing a short position

25,190

2.0982 GBP

Ordinary 10 10/11p

CFD

increasing a short position

933

2.0984 GBP

Ordinary 10 10/11p

CFD

increasing a short position

587

2.0990 GBP

Ordinary 10 10/11p

CFD

increasing a short position

25

2.1002 GBP

Ordinary 10 10/11p

CFD

increasing a short position

18,858

2.1011 GBP

Ordinary 10 10/11p

CFD

increasing a short position

950,298

2.1018 GBP

Ordinary 10 10/11p

CFD

increasing a short position

61,231

2.1034 GBP

Ordinary 10 10/11p

CFD

increasing a short position

83,362

2.1036 GBP

Ordinary 10 10/11p

CFD

increasing a short position

15,604

2.1038 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1,215

2.1063 GBP

Ordinary 10 10/11p

CFD

increasing a short position

38,215

2.1064 GBP

Ordinary 10 10/11p

CFD

reducing a long position

1,093

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a long position

44,338

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a long position

116

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a long position

15

2.0911 GBP

Ordinary 10 10/11p

CFD

reducing a long position

22,641

2.0928 GBP

Ordinary 10 10/11p

CFD

reducing a long position

83,475

2.0967 GBP

Ordinary 10 10/11p

CFD

reducing a long position

9,584

2.0967 GBP

Ordinary 10 10/11p

CFD

reducing a long position

7,700

2.0980 GBP

Ordinary 10 10/11p

CFD

reducing a long position

10,286

2.0984 GBP

Ordinary 10 10/11p

CFD

reducing a long position

74,296

2.0989 GBP

Ordinary 10 10/11p

CFD

reducing a long position

3,963

2.0990 GBP

Ordinary 10 10/11p

CFD

reducing a long position

6,057

2.0990 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,939

2.1024 GBP

Ordinary 10 10/11p

CFD

reducing a long position

5,363

2.1042 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,467

2.1063 GBP

Ordinary 10 10/11p

CFD

reducing a short position

7,514

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

572,806

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,571

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

171

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

110,529

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

431

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,238

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,254

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

13,739

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

456,791

2.0900 GBP

Ordinary 10 10/11p

CFD

reducing a short position

12,834

2.0906 GBP

Ordinary 10 10/11p

CFD

reducing a short position

17,184

2.0906 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8,275

2.0923 GBP

Ordinary 10 10/11p

CFD

reducing a short position

237,064

2.0953 GBP

Ordinary 10 10/11p

CFD

reducing a short position

23,420

2.0964 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,114

2.0965 GBP

Ordinary 10 10/11p

CFD

reducing a short position

443

2.0976 GBP

Ordinary 10 10/11p

CFD

reducing a short position

45,600

2.0989 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,420

2.0997 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.1000 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,908

2.1003 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9,501

2.1011 GBP

Ordinary 10 10/11p

CFD

reducing a short position

717

2.1028 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8,836

2.1056 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,302

2.1064 GBP

Ordinary 10 10/11p

CFD

reducing a short position

38,491

2.1075 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,085

2.1082 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.1121 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:

19 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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