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

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

AMENDMENT(2(a), 2(b))

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:

11 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

1,780,588

2.2460 GBP

2.2060 GBP

Ordinary 10 10/11p

SALES

787,618

2.2560 GBP

2.2070 GBP

Ordinary 10 10/11p

SALES

6,865

2.8500 USD

2.8500 USD

 

(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

710

2.2100 GBP

Ordinary 10 10/11p

CFD

increasing a long position

88

2.2161 GBP

Ordinary 10 10/11p

CFD

increasing a long position

37

2.2183 GBP

Ordinary 10 10/11p

CFD

increasing a long position

68,198

2.2211 GBP

Ordinary 10 10/11p

CFD

increasing a long position

7,830

2.2211 GBP

Ordinary 10 10/11p

CFD

increasing a short position

50,000

2.2101 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,462

2.2142 GBP

Ordinary 10 10/11p

CFD

increasing a short position

800

2.2144 GBP

Ordinary 10 10/11p

CFD

increasing a short position

26,376

2.2152 GBP

Ordinary 10 10/11p

CFD

increasing a short position

24,556

2.2162 GBP

Ordinary 10 10/11p

CFD

increasing a short position

40,764

2.2165 GBP

Ordinary 10 10/11p

CFD

increasing a short position

100,000

2.2172 GBP

Ordinary 10 10/11p

CFD

increasing a short position

218

2.2173 GBP

Ordinary 10 10/11p

CFD

increasing a short position

372,435

2.2183 GBP

Ordinary 10 10/11p

CFD

increasing a short position

76,669

2.2208 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,121

2.2208 GBP

Ordinary 10 10/11p

CFD

increasing a short position

9,728

2.2212 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,581

2.2231 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,018

2.2238 GBP

Ordinary 10 10/11p

CFD

increasing a short position

791

2.2250 GBP

Ordinary 10 10/11p

CFD

increasing a short position

121,814

2.2250 GBP

Ordinary 10 10/11p

CFD

increasing a short position

247,945

2.2252 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,805

2.2257 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,920

2.2300 GBP

Ordinary 10 10/11p

CFD

reducing a long position

26,451

2.2150 GBP

Ordinary 10 10/11p

CFD

reducing a long position

41,895

2.2152 GBP

Ordinary 10 10/11p

CFD

reducing a long position

22,921

2.2163 GBP

Ordinary 10 10/11p

CFD

reducing a long position

17,925

2.2168 GBP

Ordinary 10 10/11p

CFD

reducing a long position

14,305

2.2223 GBP

Ordinary 10 10/11p

CFD

reducing a long position

49,696

2.2233 GBP

Ordinary 10 10/11p

CFD

reducing a long position

343

2.2250 GBP

Ordinary 10 10/11p

CFD

reducing a long position

150

2.2250 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,759

2.2252 GBP

Ordinary 10 10/11p

CFD

reducing a short position

170

2.2082 GBP

Ordinary 10 10/11p

CFD

reducing a short position

496

2.2093 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,483

2.2134 GBP

Ordinary 10 10/11p

CFD

reducing a short position

63,484

2.2140 GBP

Ordinary 10 10/11p

CFD

reducing a short position

40,764

2.2151 GBP

Ordinary 10 10/11p

CFD

reducing a short position

6,462

2.2161 GBP

Ordinary 10 10/11p

CFD

reducing a short position

51,182

2.2163 GBP

Ordinary 10 10/11p

CFD

reducing a short position

3,018

2.2207 GBP

Ordinary 10 10/11p

CFD

reducing a short position

878

2.2227 GBP

Ordinary 10 10/11p

CFD

reducing a short position

39,713

2.2244 GBP

Ordinary 10 10/11p

CFD

reducing a short position

29,660

2.2244 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,372

2.2245 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,184

2.2246 GBP

Ordinary 10 10/11p

CFD

reducing a short position

65

2.2248 GBP

Ordinary 10 10/11p

CFD

reducing a short position

80,006

2.2248 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,561

2.2248 GBP

Ordinary 10 10/11p

CFD

reducing a short position

509

2.2248 GBP

Ordinary 10 10/11p

CFD

reducing a short position

6,865

2.2250 GBP

Ordinary 10 10/11p

CFD

reducing a short position

3,737

2.2250 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,895

2.2250 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8,363

2.2255 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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