Form 8.5 (EPT/RI)-Replacement of Direct Line

Morgan Stanley & Co. Int'l plc
07 March 2024
 

AMENDMENT(2(a))

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:

05 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

3,998,977

2.1600 GBP

2.0905 GBP

Ordinary 10 10/11p

SALES

2,552,005

2.1601 GBP

2.0875 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

4,751

2.1017 GBP

Ordinary 10 10/11p

CFD

increasing a long position

6,284

2.1046 GBP

Ordinary 10 10/11p

CFD

increasing a long position

37

2.1203 GBP

Ordinary 10 10/11p

CFD

increasing a long position

1,633

2.1204 GBP

Ordinary 10 10/11p

CFD

increasing a long position

209

2.1221 GBP

Ordinary 10 10/11p

CFD

increasing a long position

47,145

2.1298 GBP

Ordinary 10 10/11p

CFD

increasing a long position

5,412

2.1298 GBP

Ordinary 10 10/11p

CFD

increasing a long position

258

2.1320 GBP

Ordinary 10 10/11p

CFD

increasing a long position

278

2.1323 GBP

Ordinary 10 10/11p

CFD

increasing a long position

4,802

2.1386 GBP

Ordinary 10 10/11p

CFD

increasing a long position

21,678

2.1464 GBP

Ordinary 10 10/11p

CFD

increasing a long position

9,591

2.1518 GBP

Ordinary 10 10/11p

CFD

increasing a long position

15,282

2.1557 GBP

Ordinary 10 10/11p

CFD

increasing a long position

13,534

2.1559 GBP

Ordinary 10 10/11p

CFD

increasing a long position

929

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a long position

8,618

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a long position

12,545

2.1600 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,335

2.0910 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,706

2.0914 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,970

2.0958 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,300

2.0965 GBP

Ordinary 10 10/11p

CFD

increasing a short position

93,964

2.0979 GBP

Ordinary 10 10/11p

CFD

increasing a short position

100,000

2.0980 GBP

Ordinary 10 10/11p

CFD

increasing a short position

20,655

2.0994 GBP

Ordinary 10 10/11p

CFD

increasing a short position

300

2.1001 GBP

Ordinary 10 10/11p

CFD

increasing a short position

13,905

2.1002 GBP

Ordinary 10 10/11p

CFD

increasing a short position

21,229

2.1005 GBP

Ordinary 10 10/11p

CFD

increasing a short position

229,698

2.1026 GBP

Ordinary 10 10/11p

CFD

increasing a short position

39,502

2.1026 GBP

Ordinary 10 10/11p

CFD

increasing a short position

253,413

2.1026 GBP

Ordinary 10 10/11p

CFD

increasing a short position

16,668

2.1043 GBP

Ordinary 10 10/11p

CFD

increasing a short position

23,685

2.1044 GBP

Ordinary 10 10/11p

CFD

increasing a short position

69

2.1045 GBP

Ordinary 10 10/11p

CFD

increasing a short position

50,217

2.1084 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,486

2.1084 GBP

Ordinary 10 10/11p

CFD

increasing a short position

32,942

2.1089 GBP

Ordinary 10 10/11p

CFD

increasing a short position

10,355

2.1089 GBP

Ordinary 10 10/11p

CFD

increasing a short position

30,888

2.1117 GBP

Ordinary 10 10/11p

CFD

increasing a short position

101

2.1131 GBP

Ordinary 10 10/11p

CFD

increasing a short position

39,491

2.1138 GBP

Ordinary 10 10/11p

CFD

increasing a short position

235

2.1164 GBP

Ordinary 10 10/11p

CFD

increasing a short position

16,901

2.1198 GBP

Ordinary 10 10/11p

CFD

increasing a short position

372,144

2.1268 GBP

Ordinary 10 10/11p

CFD

increasing a short position

68,621

2.1336 GBP

Ordinary 10 10/11p

CFD

increasing a short position

19,300

2.1361 GBP

Ordinary 10 10/11p

CFD

increasing a short position

15,552

2.1365 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,997

2.1427 GBP

Ordinary 10 10/11p

CFD

increasing a short position

246

2.1439 GBP

Ordinary 10 10/11p

CFD

increasing a short position

35,044

2.1451 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,268

2.1480 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,109

2.1494 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,323

2.1587 GBP

Ordinary 10 10/11p

CFD

increasing a short position

820

2.1595 GBP

Ordinary 10 10/11p

CFD

increasing a short position

60,929

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a long position

11,997

2.1065 GBP

Ordinary 10 10/11p

CFD

reducing a long position

6,284

2.1127 GBP

Ordinary 10 10/11p

CFD

reducing a long position

3,166

2.1192 GBP

Ordinary 10 10/11p

CFD

reducing a long position

46,499

2.1192 GBP

Ordinary 10 10/11p

CFD

reducing a long position

17,168

2.1192 GBP

Ordinary 10 10/11p

CFD

reducing a long position

8,636

2.1192 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,115

2.1192 GBP

Ordinary 10 10/11p

CFD

reducing a long position

5,797

2.1192 GBP

Ordinary 10 10/11p

CFD

reducing a long position

3,114

2.1202 GBP

Ordinary 10 10/11p

CFD

reducing a long position

25,278

2.1202 GBP

Ordinary 10 10/11p

CFD

reducing a long position

68,462

2.1202 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,660

2.1202 GBP

Ordinary 10 10/11p

CFD

reducing a long position

12,716

2.1202 GBP

Ordinary 10 10/11p

CFD

reducing a long position

8,534

2.1202 GBP

Ordinary 10 10/11p

CFD

reducing a long position

11,531

2.1234 GBP

Ordinary 10 10/11p

CFD

reducing a long position

1,633

2.1263 GBP

Ordinary 10 10/11p

CFD

reducing a long position

64

2.1280 GBP

Ordinary 10 10/11p

CFD

reducing a long position

17,672

2.1309 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,405

2.1341 GBP

Ordinary 10 10/11p

CFD

reducing a long position

1,549

2.1341 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,882

2.1370 GBP

Ordinary 10 10/11p

CFD

reducing a long position

34,931

2.1438 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,514

2.1500 GBP

Ordinary 10 10/11p

CFD

reducing a long position

16,307

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

575

2.0968 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.0980 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9,408

2.0991 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10

2.1078 GBP

Ordinary 10 10/11p

CFD

reducing a short position

18,343

2.1146 GBP

Ordinary 10 10/11p

CFD

reducing a short position

7,273

2.1228 GBP

Ordinary 10 10/11p

CFD

reducing a short position

23,791

2.1409 GBP

Ordinary 10 10/11p

CFD

reducing a short position

30,024

2.1416 GBP

Ordinary 10 10/11p

CFD

reducing a short position

3,289

2.1433 GBP

Ordinary 10 10/11p

CFD

reducing a short position

159,876

2.1488 GBP

Ordinary 10 10/11p

CFD

reducing a short position

714

2.1515 GBP

Ordinary 10 10/11p

CFD

reducing a short position

3,921

2.1520 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9

2.1532 GBP

Ordinary 10 10/11p

CFD

reducing a short position

12,153

2.1596 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9,076

2.1596 GBP

Ordinary 10 10/11p

CFD

reducing a short position

275

2.1598 GBP

Ordinary 10 10/11p

CFD

reducing a short position

7,975

2.1599 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,684

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

23

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

104

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

873

2.1600 GBP

Ordinary 10 10/11p

CFD

reducing a short position

35,607

2.1600 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:

07 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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