Form 8.3 - Direct Line Insurance Group PLC

Citadel Group

03 December 2024

 

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Full name of discloser:	Citadel Group
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):      The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.	N/A
(c) 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
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:	N/A
(e) Date position held/dealing undertaken:      For an opening position disclosure, state the latest practicable date prior to the disclosure	2 December 2024
(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?      If it is a cash offer or possible cash offer, state "N/A"	Yes, Aviva PLC

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security: Common Stock	ISIN GB00BY9D0Y18 10 10/11p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	23,836	0.00	93,799	0.00
(2) Cash-settled derivatives:	19,547,185	1.49	62,517	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00	0	0.00
TOTAL:	19,571,021	1.49	156,316	0.01

Class of relevant security:	ISIN XS1728036366 Restricted Tier 1 Note
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00	0	0.00
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00	0	0.00
TOTAL:	0	0.00	0	0.00

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)        Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:	N/A
Details, including nature of the rights concerned and relevant percentages:	N/A

3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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	Purchase/sale	Number of securities	Price per unit
Common	Buy Transaction	1	2.2960 GBP
Common	Buy Transaction	3,222	2.3000 GBP
Common	Buy Transaction	20,962	2.3020 GBP
Common	Buy Transaction	572	2.3040 GBP
Common	Buy Transaction	2,635	2.3060 GBP
Common	Buy Transaction	27,389	2.3080 GBP
Common	Buy Transaction	38,133	2.3100 GBP
Common	Buy Transaction	8,993	2.3110 GBP
Common	Buy Transaction	47,648	2.3120 GBP
Common	Buy Transaction	1,020	2.3130 GBP
Common	Buy Transaction	52,470	2.3140 GBP
Common	Buy Transaction	62,670	2.3160 GBP
Common	Buy Transaction	61,551	2.3180 GBP
Common	Buy Transaction	75,965	2.3200 GBP
Common	Buy Transaction	4,810	2.3210 GBP
Common	Buy Transaction	20,704	2.3220 GBP
Common	Buy Transaction	559	2.3240 GBP
Common	Buy Transaction	56	2.3280 GBP
Common	Buy Transaction	44	2.3300 GBP
Common	Buy Transaction	5	2.3320 GBP
Common	Buy Transaction	409	2.3340 GBP
Common	Buy Transaction	4	2.3360 GBP
Common	Buy Transaction	2,968	2.3380 GBP
Common	Buy Transaction	3,638	2.3400 GBP
Common	Buy Transaction	101	2.3500 GBP
Common	Buy Transaction	34	2.3520 GBP
Common	Buy Transaction	3,277	2.3540 GBP
Common	Buy Transaction	683	2.3580 GBP
Common	Sell Transaction	9,001	2.2960 GBP
Common	Sell Transaction	6,603	2.2980 GBP
Common	Sell Transaction	6,732	2.3000 GBP
Common	Sell Transaction	2,466	2.3020 GBP
Common	Sell Transaction	19,403	2.3030 GBP
Common	Sell Transaction	4,843	2.3040 GBP
Common	Sell Transaction	510	2.3060 GBP
Common	Sell Transaction	30,676	2.3080 GBP
Common	Sell Transaction	18,736	2.3100 GBP
Common	Sell Transaction	48,606	2.3120 GBP
Common	Sell Transaction	45,940	2.3140 GBP
Common	Sell Transaction	70,044	2.3160 GBP
Common	Sell Transaction	71,319	2.3180 GBP
Common	Sell Transaction	15,423	2.3200 GBP
Common	Sell Transaction	7,688	2.3220 GBP
Common	Sell Transaction	4,778	2.3240 GBP
Common	Sell Transaction	2,839	2.3260 GBP
Common	Sell Transaction	11,887	2.3280 GBP
Common	Sell Transaction	460	2.3300 GBP
Common	Sell Transaction	9,741	2.3320 GBP
Common	Sell Transaction	10,944	2.3340 GBP
Common	Sell Transaction	816	2.3360 GBP
Common	Sell Transaction	2,872	2.3440 GBP
Common	Sell Transaction	653	2.3500 GBP
Common	Sell Transaction	62	2.3520 GBP
Common	Sell Transaction	3,639	2.3540 GBP
Common	Sell Transaction	8,697	2.3560 GBP
Common	Sell Transaction	8,722	2.3580 GBP
Common	Sell Transaction	200	3.0500 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
Common	CFD	Increasing long position	22,922	2.3125 GBP
Common	CFD	Increasing long position	7,932	2.3132 GBP
Common	CFD	Increasing long position	22,487	2.3165 GBP
Common	CFD	Reducing long position	93	2.3166 GBP
Common	CFD	Increasing long position	152,802	2.3166 GBP
Common	CFD	Reducing long position	12,854	2.3171 GBP
Common	CFD	Reducing long position	45,761	2.3193 GBP
Common	CFD	Increasing long position	151,165	2.3200 GBP
Common	CFD	Reducing long position	21,121	2.3200 GBP
Common	CFD	Reducing long position	101,280	2.3299 GBP
Common	CFD	Reducing long position	386	2.3520 GBP
Common	CFD	Increasing long position	1,954	2.3545 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

(ii)        Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(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)

4.         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 person 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 person 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

(c)        Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	3 December 2024
Contact name:	Paula Santos
Telephone number*:	020 7645 9700

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 disclosure requirements on [phone].

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END