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

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

AMENDMENT(2(a), 2(b), 2(c)(i))

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:

06 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

6,404,117

2.1959 GBP

2.1452 GBP

Ordinary 10 10/11p

SALES

5,029,598

2.1960 GBP

2.1420 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

529

2.1630 GBP

Ordinary 10 10/11p

CFD

increasing a long position

13

2.1630 GBP

Ordinary 10 10/11p

CFD

increasing a long position

8,093

2.1665 GBP

Ordinary 10 10/11p

CFD

increasing a long position

12,715

2.1698 GBP

Ordinary 10 10/11p

CFD

increasing a long position

110,741

2.1698 GBP

Ordinary 10 10/11p

CFD

increasing a long position

14,164

2.1705 GBP

Ordinary 10 10/11p

CFD

increasing a long position

17,923

2.1726 GBP

Ordinary 10 10/11p

CFD

increasing a long position

30,955

2.1745 GBP

Ordinary 10 10/11p

CFD

increasing a long position

675

2.1770 GBP

Ordinary 10 10/11p

CFD

increasing a short position

223

2.1507 GBP

Ordinary 10 10/11p

CFD

increasing a short position

11

2.1599 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,993

2.1624 GBP

Ordinary 10 10/11p

CFD

increasing a short position

96,260

2.1630 GBP

Ordinary 10 10/11p

CFD

increasing a short position

23,488

2.1630 GBP

Ordinary 10 10/11p

CFD

increasing a short position

25,898

2.1636 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,207

2.1661 GBP

Ordinary 10 10/11p

CFD

increasing a short position

96,754

2.1662 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,576

2.1663 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,265

2.1672 GBP

Ordinary 10 10/11p

CFD

increasing a short position

400,863

2.1690 GBP

Ordinary 10 10/11p

CFD

increasing a short position

68,940

2.1690 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,710

2.1690 GBP

Ordinary 10 10/11p

CFD

increasing a short position

445,197

2.1690 GBP

Ordinary 10 10/11p

CFD

increasing a short position

859

2.1705 GBP

Ordinary 10 10/11p

CFD

increasing a short position

504

2.1709 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,387

2.1713 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,957

2.1719 GBP

Ordinary 10 10/11p

CFD

increasing a short position

10,796

2.1719 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,644

2.1719 GBP

Ordinary 10 10/11p

CFD

increasing a short position

58,127

2.1719 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,247

2.1719 GBP

Ordinary 10 10/11p

CFD

increasing a short position

239,759

2.1719 GBP

Ordinary 10 10/11p

CFD

increasing a short position

200

2.1722 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,076

2.1728 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,243

2.1733 GBP

Ordinary 10 10/11p

CFD

increasing a short position

239,759

2.1733 GBP

Ordinary 10 10/11p

CFD

increasing a short position

10,796

2.1733 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,952

2.1733 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,644

2.1733 GBP

Ordinary 10 10/11p

CFD

increasing a short position

58,121

2.1733 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,766

2.1736 GBP

Ordinary 10 10/11p

CFD

increasing a short position

463,685

2.1744 GBP

Ordinary 10 10/11p

CFD

increasing a short position

40,979

2.1752 GBP

Ordinary 10 10/11p

CFD

increasing a short position

528

2.1753 GBP

Ordinary 10 10/11p

CFD

increasing a short position

790

2.1753 GBP

Ordinary 10 10/11p

CFD

increasing a short position

47,952

2.1753 GBP

Ordinary 10 10/11p

CFD

increasing a short position

11,625

2.1753 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,160

2.1753 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1,449

2.1753 GBP

Ordinary 10 10/11p

CFD

increasing a short position

11,871

2.1762 GBP

Ordinary 10 10/11p

CFD

increasing a short position

174,376

2.1762 GBP

Ordinary 10 10/11p

CFD

increasing a short position

719,276

2.1762 GBP

Ordinary 10 10/11p

CFD

increasing a short position

21,740

2.1762 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,930

2.1762 GBP

Ordinary 10 10/11p

CFD

increasing a short position

32,386

2.1762 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1,500

2.1770 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,934

2.1775 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,166

2.1830 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,486

2.1846 GBP

Ordinary 10 10/11p

CFD

increasing a short position

50,217

2.1846 GBP

Ordinary 10 10/11p

CFD

increasing a short position

32,942

2.1850 GBP

Ordinary 10 10/11p

CFD

increasing a short position

10,355

2.1850 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,619

2.1959 GBP

Ordinary 10 10/11p

CFD

reducing a long position

8,320

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a long position

1,257

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a long position

8,618

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a long position

5,147

2.1775 GBP

Ordinary 10 10/11p

CFD

reducing a long position

28,456

2.1787 GBP

Ordinary 10 10/11p

CFD

reducing a long position

553

2.1860 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,259,275

2.1420 GBP

Ordinary 10 10/11p

CFD

reducing a short position

223

2.1493 GBP

Ordinary 10 10/11p

CFD

reducing a short position

100,000

2.1505 GBP

Ordinary 10 10/11p

CFD

reducing a short position

546

2.1628 GBP

Ordinary 10 10/11p

CFD

reducing a short position

64,101

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a short position

971

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,695

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,960

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a short position

873

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,014

2.1630 GBP

Ordinary 10 10/11p

CFD

reducing a short position

139,825

2.1673 GBP

Ordinary 10 10/11p

CFD

reducing a short position

76

2.1715 GBP

Ordinary 10 10/11p

CFD

reducing a short position

7,889

2.1715 GBP

Ordinary 10 10/11p

CFD

reducing a short position

30,600

2.1718 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,009

2.1720 GBP

Ordinary 10 10/11p

CFD

reducing a short position

59,195

2.1747 GBP

Ordinary 10 10/11p

CFD

reducing a short position

6,710

2.1798 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,535

2.1813 GBP

Ordinary 10 10/11p

CFD

reducing a short position

22,746

2.1814 GBP

Ordinary 10 10/11p

CFD

reducing a short position

92

2.1830 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,166

2.1876 GBP

Ordinary 10 10/11p

CFD

reducing a short position

357

2.1890 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

Ordinary 10 10/11p

CALL

PURCHASING

521,394

260.6420

E

05/06/2024

0.0335 GBP

 

(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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