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

Morgan Stanley & Co. Int'l plc
02 April 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:

21 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

4,424,419

2.1940 GBP

2.0570 GBP

Ordinary 10 10/11p

SALES

13,605,612

2.1962 GBP

2.0820 GBP

Ordinary 10 10/11p

SALES

10,964

2.6811 USD

2.6811 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

10,447,340

2.1101 GBP

Ordinary 10 10/11p

CFD

increasing a long position

119

2.1170 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,801

2.1205 GBP

Ordinary 10 10/11p

CFD

increasing a long position

1,550

2.1300 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,576

2.1765 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,994

2.1929 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,000

2.0790 GBP

Ordinary 10 10/11p

CFD

increasing a short position

399

2.0820 GBP

Ordinary 10 10/11p

CFD

increasing a short position

13,334

2.0953 GBP

Ordinary 10 10/11p

CFD

increasing a short position

108,393

2.0956 GBP

Ordinary 10 10/11p

CFD

increasing a short position

18,694

2.1063 GBP

Ordinary 10 10/11p

CFD

increasing a short position

19,873

2.1073 GBP

Ordinary 10 10/11p

CFD

increasing a short position

36,671

2.1096 GBP

Ordinary 10 10/11p

CFD

increasing a short position

12,706

2.1114 GBP

Ordinary 10 10/11p

CFD

increasing a short position

13,914

2.1130 GBP

Ordinary 10 10/11p

CFD

increasing a short position

316

2.1151 GBP

Ordinary 10 10/11p

CFD

increasing a short position

97,111

2.1170 GBP

Ordinary 10 10/11p

CFD

increasing a short position

94,952

2.1170 GBP

Ordinary 10 10/11p

CFD

increasing a short position

48,189

2.1170 GBP

Ordinary 10 10/11p

CFD

increasing a short position

40

2.1170 GBP

Ordinary 10 10/11p

CFD

increasing a short position

229,845

2.1173 GBP

Ordinary 10 10/11p

CFD

increasing a short position

165,133

2.1187 GBP

Ordinary 10 10/11p

CFD

increasing a short position

74

2.1188 GBP

Ordinary 10 10/11p

CFD

increasing a short position

28,972

2.1210 GBP

Ordinary 10 10/11p

CFD

increasing a short position

105,932

2.1219 GBP

Ordinary 10 10/11p

CFD

increasing a short position

128,531

2.1221 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,025

2.1222 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,958

2.1243 GBP

Ordinary 10 10/11p

CFD

increasing a short position

60,602

2.1243 GBP

Ordinary 10 10/11p

CFD

increasing a short position

12,008

2.1243 GBP

Ordinary 10 10/11p

CFD

increasing a short position

26,100

2.1246 GBP

Ordinary 10 10/11p

CFD

increasing a short position

13,773

2.1256 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,631

2.1258 GBP

Ordinary 10 10/11p

CFD

increasing a short position

641

2.1270 GBP

Ordinary 10 10/11p

CFD

increasing a short position

479

2.1270 GBP

Ordinary 10 10/11p

CFD

increasing a short position

80

2.1288 GBP

Ordinary 10 10/11p

CFD

increasing a short position

156,159

2.1302 GBP

Ordinary 10 10/11p

CFD

increasing a short position

285,669

2.1310 GBP

Ordinary 10 10/11p

CFD

increasing a short position

178,460

2.1322 GBP

Ordinary 10 10/11p

CFD

increasing a short position

30,000

2.1363 GBP

Ordinary 10 10/11p

CFD

increasing a short position

18,864

2.1388 GBP

Ordinary 10 10/11p

CFD

increasing a short position

224,221

2.1400 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,443

2.1401 GBP

Ordinary 10 10/11p

CFD

increasing a short position

131

2.1418 GBP

Ordinary 10 10/11p

CFD

increasing a short position

25

2.1426 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,500

2.1435 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,576

2.0534 GBP

Ordinary 10 10/11p

CFD

reducing a long position

21

2.1182 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,994

2.1199 GBP

Ordinary 10 10/11p

CFD

reducing a long position

45,332

2.1261 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,722

2.1363 GBP

Ordinary 10 10/11p

CFD

reducing a short position

16,322

2.1129 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,901

2.1140 GBP

Ordinary 10 10/11p

CFD

reducing a short position

170

2.1160 GBP

Ordinary 10 10/11p

CFD

reducing a short position

748,000

2.1165 GBP

Ordinary 10 10/11p

CFD

reducing a short position

40,429

2.1168 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8,520

2.1170 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,964

2.1170 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,436

2.1175 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1

2.1190 GBP

Ordinary 10 10/11p

CFD

reducing a short position

26,775

2.1190 GBP

Ordinary 10 10/11p

CFD

reducing a short position

11,519

2.1209 GBP

Ordinary 10 10/11p

CFD

reducing a short position

37

2.1220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

35,000

2.1240 GBP

Ordinary 10 10/11p

CFD

reducing a short position

312,349

2.1242 GBP

Ordinary 10 10/11p

CFD

reducing a short position

3,113

2.1242 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9,332

2.1242 GBP

Ordinary 10 10/11p

CFD

reducing a short position

75,324

2.1242 GBP

Ordinary 10 10/11p

CFD

reducing a short position

13,844

2.1242 GBP

Ordinary 10 10/11p

CFD

reducing a short position

5,137

2.1242 GBP

Ordinary 10 10/11p

CFD

reducing a short position

106

2.1256 GBP

Ordinary 10 10/11p

CFD

reducing a short position

21,491

2.1264 GBP

Ordinary 10 10/11p

CFD

reducing a short position

74,580

2.1264 GBP

Ordinary 10 10/11p

CFD

reducing a short position

36,908

2.1283 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,118

2.1288 GBP

Ordinary 10 10/11p

CFD

reducing a short position

362,140

2.1290 GBP

Ordinary 10 10/11p

CFD

reducing a short position

13,505

2.1314 GBP

Ordinary 10 10/11p

CFD

reducing a short position

44

2.1391 GBP

Ordinary 10 10/11p

CFD

reducing a short position

36,282

2.1406 GBP

Ordinary 10 10/11p

CFD

reducing a short position

757

2.1440 GBP

Ordinary 10 10/11p

CFD

reducing a short position

186

2.1441 GBP

Ordinary 10 10/11p

CFD

reducing a short position

624

2.1442 GBP

Ordinary 10 10/11p

CFD

reducing a short position

5,524

2.1449 GBP

Ordinary 10 10/11p

CFD

reducing a short position

5,443

2.1451 GBP

Ordinary 10 10/11p

CFD

reducing a short position

7,500

2.1814 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:

02 April 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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