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

Morgan Stanley & Co. Int'l plc
05 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:

28 February 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

10,096,169

2.0800 GBP

1.5609 GBP

Ordinary 10 10/11p

SALES

16,143,360

2.1050 GBP

1.5618 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

38,430

1.5703 GBP

Ordinary 10 10/11p

CFD

increasing a long position

1,396

1.5836 GBP

Ordinary 10 10/11p

CFD

increasing a long position

17,584

1.5845 GBP

Ordinary 10 10/11p

CFD

increasing a long position

9,648

1.5852 GBP

Ordinary 10 10/11p

CFD

increasing a long position

45,746

1.5875 GBP

Ordinary 10 10/11p

CFD

increasing a long position

13,872

1.5879 GBP

Ordinary 10 10/11p

CFD

increasing a long position

9

1.5921 GBP

Ordinary 10 10/11p

CFD

increasing a long position

145,067

1.5960 GBP

Ordinary 10 10/11p

CFD

increasing a long position

37,706

1.6017 GBP

Ordinary 10 10/11p

CFD

increasing a long position

25,908

1.6441 GBP

Ordinary 10 10/11p

CFD

increasing a long position

47,041

1.6486 GBP

Ordinary 10 10/11p

CFD

increasing a long position

49,408

1.6506 GBP

Ordinary 10 10/11p

CFD

increasing a long position

18,602

1.6607 GBP

Ordinary 10 10/11p

CFD

increasing a long position

3,606

1.6705 GBP

Ordinary 10 10/11p

CFD

increasing a long position

48,498

1.6839 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,283

1.7373 GBP

Ordinary 10 10/11p

CFD

increasing a long position

35

1.7632 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,022

1.8275 GBP

Ordinary 10 10/11p

CFD

increasing a long position

4,566

1.8275 GBP

Ordinary 10 10/11p

CFD

increasing a long position

10,639

1.9136 GBP

Ordinary 10 10/11p

CFD

increasing a long position

56,994

1.9206 GBP

Ordinary 10 10/11p

CFD

increasing a long position

89,265

1.9277 GBP

Ordinary 10 10/11p

CFD

increasing a long position

10,512

1.9451 GBP

Ordinary 10 10/11p

CFD

increasing a long position

373,739

1.9530 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,112

1.9653 GBP

Ordinary 10 10/11p

CFD

increasing a long position

15,619

1.9886 GBP

Ordinary 10 10/11p

CFD

increasing a long position

53,285

1.9972 GBP

Ordinary 10 10/11p

CFD

increasing a long position

58,340

2.0080 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,682

2.0080 GBP

Ordinary 10 10/11p

CFD

increasing a long position

7,190

2.0080 GBP

Ordinary 10 10/11p

CFD

increasing a long position

3,985

2.0080 GBP

Ordinary 10 10/11p

CFD

increasing a long position

10,722

2.0080 GBP

Ordinary 10 10/11p

CFD

increasing a long position

342

2.0119 GBP

Ordinary 10 10/11p

CFD

increasing a long position

618

2.0119 GBP

Ordinary 10 10/11p

CFD

increasing a long position

5,013

2.0119 GBP

Ordinary 10 10/11p

CFD

increasing a long position

921

2.0119 GBP

Ordinary 10 10/11p

CFD

increasing a long position

231

2.0119 GBP

Ordinary 10 10/11p

CFD

increasing a long position

21,444

2.0180 GBP

Ordinary 10 10/11p

CFD

increasing a long position

7,971

2.0180 GBP

Ordinary 10 10/11p

CFD

increasing a long position

14,380

2.0180 GBP

Ordinary 10 10/11p

CFD

increasing a long position

5,364

2.0180 GBP

Ordinary 10 10/11p

CFD

increasing a long position

116,684

2.0180 GBP

Ordinary 10 10/11p

CFD

increasing a long position

37,658

2.0186 GBP

Ordinary 10 10/11p

CFD

increasing a long position

5,362

2.0212 GBP

Ordinary 10 10/11p

CFD

increasing a long position

119,581

2.0212 GBP

Ordinary 10 10/11p

CFD

increasing a long position

1,995

2.0212 GBP

Ordinary 10 10/11p

CFD

increasing a long position

1,342

2.0212 GBP

Ordinary 10 10/11p

CFD

increasing a long position

29,170

2.0212 GBP

Ordinary 10 10/11p

CFD

increasing a long position

3,596

2.0212 GBP

Ordinary 10 10/11p

CFD

increasing a long position

26,053

2.0220 GBP

Ordinary 10 10/11p

CFD

increasing a long position

76,492

2.0220 GBP

Ordinary 10 10/11p

CFD

increasing a long position

16,222

2.0221 GBP

Ordinary 10 10/11p

CFD

increasing a long position

2,454

2.0227 GBP

Ordinary 10 10/11p

CFD

increasing a long position

85,804

2.0239 GBP

Ordinary 10 10/11p

CFD

increasing a long position

3,468

2.0247 GBP

Ordinary 10 10/11p

CFD

increasing a long position

169,394

2.0270 GBP

Ordinary 10 10/11p

CFD

increasing a long position

51,900

2.0275 GBP

Ordinary 10 10/11p

CFD

increasing a long position

14,834

2.0281 GBP

Ordinary 10 10/11p

CFD

increasing a long position

6

2.0339 GBP

Ordinary 10 10/11p

CFD

increasing a long position

21,444

2.0380 GBP

Ordinary 10 10/11p

CFD

increasing a long position

14,378

2.0380 GBP

Ordinary 10 10/11p

CFD

increasing a long position

116,679

2.0380 GBP

Ordinary 10 10/11p

CFD

increasing a long position

7,969

2.0380 GBP

Ordinary 10 10/11p

CFD

increasing a long position

5,366

2.0380 GBP

Ordinary 10 10/11p

CFD

increasing a long position

6,491

2.0647 GBP

Ordinary 10 10/11p

CFD

increasing a long position

95,367

2.0803 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,200

1.5659 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1,500

1.5681 GBP

Ordinary 10 10/11p

CFD

increasing a short position

5,635

1.5684 GBP

Ordinary 10 10/11p

CFD

increasing a short position

4,648

1.5700 GBP

Ordinary 10 10/11p

CFD

increasing a short position

17,303

1.5812 GBP

Ordinary 10 10/11p

CFD

increasing a short position

20,244

1.5816 GBP

Ordinary 10 10/11p

CFD

increasing a short position

10,833

1.5880 GBP

Ordinary 10 10/11p

CFD

increasing a short position

52

1.5959 GBP

Ordinary 10 10/11p

CFD

increasing a short position

7,025

1.6410 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,546

1.6825 GBP

Ordinary 10 10/11p

CFD

increasing a short position

943

1.6919 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,334

1.7363 GBP

Ordinary 10 10/11p

CFD

increasing a short position

6,177

1.7546 GBP

Ordinary 10 10/11p

CFD

increasing a short position

414,898

1.7610 GBP

Ordinary 10 10/11p

CFD

increasing a short position

86,756

1.7630 GBP

Ordinary 10 10/11p

CFD

increasing a short position

95,492

1.7815 GBP

Ordinary 10 10/11p

CFD

increasing a short position

60,000

1.7856 GBP

Ordinary 10 10/11p

CFD

increasing a short position

150,000

1.8000 GBP

Ordinary 10 10/11p

CFD

increasing a short position

8,225

1.8492 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1,487

1.8497 GBP

Ordinary 10 10/11p

CFD

increasing a short position

81,982

1.8525 GBP

Ordinary 10 10/11p

CFD

increasing a short position

80,185

1.8572 GBP

Ordinary 10 10/11p

CFD

increasing a short position

3,158

1.8592 GBP

Ordinary 10 10/11p

CFD

increasing a short position

177,870

1.8842 GBP

Ordinary 10 10/11p

CFD

increasing a short position

968

1.8891 GBP

Ordinary 10 10/11p

CFD

increasing a short position

1,213,905

1.9119 GBP

Ordinary 10 10/11p

CFD

increasing a short position

401,292

1.9139 GBP

Ordinary 10 10/11p

CFD

increasing a short position

401,248

1.9199 GBP

Ordinary 10 10/11p

CFD

increasing a short position

899

1.9331 GBP

Ordinary 10 10/11p

CFD

increasing a short position

100,718

1.9503 GBP

Ordinary 10 10/11p

CFD

increasing a short position

113,719

1.9645 GBP

Ordinary 10 10/11p

CFD

increasing a short position

169,730

1.9960 GBP

Ordinary 10 10/11p

CFD

increasing a short position

703

1.9961 GBP

Ordinary 10 10/11p

CFD

increasing a short position

2,270

2.0223 GBP

Ordinary 10 10/11p

CFD

reducing a long position

26,203

1.5735 GBP

Ordinary 10 10/11p

CFD

reducing a long position

121

1.5880 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,818

1.5919 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,881

1.6054 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,667

1.6926 GBP

Ordinary 10 10/11p

CFD

reducing a long position

309

1.6926 GBP

Ordinary 10 10/11p

CFD

reducing a long position

6,968

1.7561 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,022

1.7629 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,566

1.7630 GBP

Ordinary 10 10/11p

CFD

reducing a long position

13,872

1.8000 GBP

Ordinary 10 10/11p

CFD

reducing a long position

38,430

1.8457 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2

1.8735 GBP

Ordinary 10 10/11p

CFD

reducing a long position

53,180

1.8842 GBP

Ordinary 10 10/11p

CFD

reducing a long position

292,611

1.8905 GBP

Ordinary 10 10/11p

CFD

reducing a long position

10,460

1.8905 GBP

Ordinary 10 10/11p

CFD

reducing a long position

105

1.9001 GBP

Ordinary 10 10/11p

CFD

reducing a long position

236,095

1.9119 GBP

Ordinary 10 10/11p

CFD

reducing a long position

7,573

1.9259 GBP

Ordinary 10 10/11p

CFD

reducing a long position

5,222

1.9303 GBP

Ordinary 10 10/11p

CFD

reducing a long position

101,858

1.9410 GBP

Ordinary 10 10/11p

CFD

reducing a long position

11,589

1.9645 GBP

Ordinary 10 10/11p

CFD

reducing a long position

67,902

1.9870 GBP

Ordinary 10 10/11p

CFD

reducing a long position

3,468

2.0003 GBP

Ordinary 10 10/11p

CFD

reducing a long position

7,924

2.0212 GBP

Ordinary 10 10/11p

CFD

reducing a long position

15,272

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a long position

443

2.0222 GBP

Ordinary 10 10/11p

CFD

reducing a long position

106,553

2.0223 GBP

Ordinary 10 10/11p

CFD

reducing a long position

16,720

2.0225 GBP

Ordinary 10 10/11p

CFD

reducing a long position

52,369

2.0238 GBP

Ordinary 10 10/11p

CFD

reducing a long position

8,933

2.0240 GBP

Ordinary 10 10/11p

CFD

reducing a long position

4,278

2.0242 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,606

2.0247 GBP

Ordinary 10 10/11p

CFD

reducing a long position

18

2.0250 GBP

Ordinary 10 10/11p

CFD

reducing a long position

3,286

2.0266 GBP

Ordinary 10 10/11p

CFD

reducing a long position

2,288

2.0307 GBP

Ordinary 10 10/11p

CFD

reducing a long position

145,155

2.0321 GBP

Ordinary 10 10/11p

CFD

reducing a long position

41,943

2.0369 GBP

Ordinary 10 10/11p

CFD

reducing a long position

17,453

2.0440 GBP

Ordinary 10 10/11p

CFD

reducing a long position

5,167

2.0451 GBP

Ordinary 10 10/11p

CFD

reducing a long position

156,149

2.0499 GBP

Ordinary 10 10/11p

CFD

reducing a long position

219,384

2.0502 GBP

Ordinary 10 10/11p

CFD

reducing a long position

10,720

2.0513 GBP

Ordinary 10 10/11p

CFD

reducing a long position

93,568

2.0535 GBP

Ordinary 10 10/11p

CFD

reducing a long position

3,900

2.0545 GBP

Ordinary 10 10/11p

CFD

reducing a long position

927,847

2.0578 GBP

Ordinary 10 10/11p

CFD

reducing a long position

19,919

2.0784 GBP

Ordinary 10 10/11p

CFD

reducing a long position

241

2.0822 GBP

Ordinary 10 10/11p

CFD

reducing a short position

5,129,764

1.5880 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8,334

1.7542 GBP

Ordinary 10 10/11p

CFD

reducing a short position

95,492

1.7817 GBP

Ordinary 10 10/11p

CFD

reducing a short position

64,515

1.7821 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,284

1.7911 GBP

Ordinary 10 10/11p

CFD

reducing a short position

27

1.8000 GBP

Ordinary 10 10/11p

CFD

reducing a short position

79,352

1.8266 GBP

Ordinary 10 10/11p

CFD

reducing a short position

75,136

1.8275 GBP

Ordinary 10 10/11p

CFD

reducing a short position

33,286

1.8275 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,833

1.8831 GBP

Ordinary 10 10/11p

CFD

reducing a short position

1,207

1.8861 GBP

Ordinary 10 10/11p

CFD

reducing a short position

399,898

1.8887 GBP

Ordinary 10 10/11p

CFD

reducing a short position

60,000

1.9021 GBP

Ordinary 10 10/11p

CFD

reducing a short position

401,248

1.9107 GBP

Ordinary 10 10/11p

CFD

reducing a short position

100,362

1.9277 GBP

Ordinary 10 10/11p

CFD

reducing a short position

62,202

1.9437 GBP

Ordinary 10 10/11p

CFD

reducing a short position

21,016

1.9653 GBP

Ordinary 10 10/11p

CFD

reducing a short position

33,162

1.9939 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,270

1.9972 GBP

Ordinary 10 10/11p

CFD

reducing a short position

169,730

1.9990 GBP

Ordinary 10 10/11p

CFD

reducing a short position

161,935

2.0075 GBP

Ordinary 10 10/11p

CFD

reducing a short position

10,439

2.0169 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,000

2.0190 GBP

Ordinary 10 10/11p

CFD

reducing a short position

51,436

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

2,200

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

300

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

12,095

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

6,875

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

11,275

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9,680

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

562,284

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

18,200

2.0220 GBP

Ordinary 10 10/11p

CFD

reducing a short position

38,487

2.0222 GBP

Ordinary 10 10/11p

CFD

reducing a short position

28,459

2.0222 GBP

Ordinary 10 10/11p

CFD

reducing a short position

19,415

2.0239 GBP

Ordinary 10 10/11p

CFD

reducing a short position

206,708

2.0258 GBP

Ordinary 10 10/11p

CFD

reducing a short position

38,874

2.0261 GBP

Ordinary 10 10/11p

CFD

reducing a short position

8,556

2.0268 GBP

Ordinary 10 10/11p

CFD

reducing a short position

78,668

2.0270 GBP

Ordinary 10 10/11p

CFD

reducing a short position

4,975

2.0274 GBP

Ordinary 10 10/11p

CFD

reducing a short position

165,630

2.0275 GBP

Ordinary 10 10/11p

CFD

reducing a short position

9,656

2.0297 GBP

Ordinary 10 10/11p

CFD

reducing a short position

6,856

2.0313 GBP

Ordinary 10 10/11p

CFD

reducing a short position

48

2.0320 GBP

Ordinary 10 10/11p

CFD

reducing a short position

12,916

2.0467 GBP

Ordinary 10 10/11p

CFD

reducing a short position

139,222

2.0542 GBP

Ordinary 10 10/11p

CFD

reducing a short position

89,018

2.0647 GBP

Ordinary 10 10/11p

CFD

reducing a short position

15,000

2.0700 GBP

Ordinary 10 10/11p

CFD

reducing a short position

412,992

2.0760 GBP

Ordinary 10 10/11p

CFD

reducing a short position

339

2.0960 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:

05 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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