20240228_DIRECT LINE INSURANCE_8.5 EPT RI_UK_MLI

Bank of America Merrill Lynch

29 February 2024

 

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:	Merrill Lynch International
(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:	AGEAS SA/NV
(d) Date dealing undertaken:	28/02/2024
(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 If YES, specify which: (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	Purchase	13,103,428	2.1 GBP	1.565 GBP
Ordinary 10 10/11p	Sale	8,925,633	2.103 GBP	1.559 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	Swaps - Equity Swaps	Increasing a Short Position	63,840	1.721 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	63,840	1.595 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,563	1.595 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3,795	1.978 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	17,217	1.925 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	43,175	2.08 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	44,036	2.03 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	29,203	2.032 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	49,665	2.027 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	527,603	1.949 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	27,150	1.996 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	41,387	2.028 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2,985	1.873 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	7	1.932 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	645	1.813 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	56,287	2.022 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	5,313	1.884 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2	1.89 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	20,859	1.96 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	487	1.799 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,151	1.799 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	27,812	2.03 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	49,665	2.042 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2	1.89 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	49,665	1.899 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3	1.884 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	23	1.799 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	22,499	2.032 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,125	1.89 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	515	1.89 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	479	1.884 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	35	1.813 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	417	1.911 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	156	1.873 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,943	1.873 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	17,605	1.87 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	129	1.92 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	10,085	1.87 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	753	1.92 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	44	1.884 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	7	1.87 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	196	1.799 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2,216	1.818 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	745	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	161	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,712	1.799 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	356	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2,723	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	11,431	1.875 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,596	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	982	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	804	1.818 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	4,676	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3,356	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	691	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	12,495	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	61	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	36	1.933 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,715	1.87 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3,507	1.879 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	8,285	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	482	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	1,403	1.595 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,404	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2,287	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,683	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,012	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3,540	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	410	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3,740	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2,740	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	739	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	5,226	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	196	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,259	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	27	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,195	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	668	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	5,143	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	292	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,777	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	9,683	2.027 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	69,504	2.027 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	6,548	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	11,851	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	70	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	57,865	1.709 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	173,170	2.027 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	11,305	2.027 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	40,281	2.028 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	10,000	1.561 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	621	1.595 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	5,000	1.843 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,419	1.588 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Long Position	300,826	1.843 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Long Position	30,000	2.002 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	553,905	1.852 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	5,000	2.044 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	1,419	1.821 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	25,442	1.937 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	5,000	1.975 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	72,558	2.002 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	5,000	1.763 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	29,231	1.844 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	128,097	2.08 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	20,534	1.844 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	89,982	2.08 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	300,029	2.08 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	17,518	2.022 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	4,160	2.033 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	1,297,351	1.852 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	3,221,534	1.588 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Long Position	575,175	2.032 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	1,174,353	1.588 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Long Position	733,877	1.588 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	112,518	2.034 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	12,523	1.923 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	17,104	1.806 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	7,946	1.789 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Long Position	3,835	1.595 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	457,305	1.978 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	15,893	2.018 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	43,705	1.994 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	51,254	2.03 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3,182	1.89 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	859	1.87 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	28,049	1.879 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	8,441	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	493	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	429	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	217	1.976 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	93,185	2.027 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Long Position	557,657	2.022 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	389,092	1.852 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	68,469	1.844 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	5	1.936 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Long Position	432	1.566 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2	2.043 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	4,432	1.735 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Long Position	224	1.735 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	246,860	1.587 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	697,431	2.034 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Long Position	47,164	2.022 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	85	1.566 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Long Position	12,782	1.584 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	4,432	1.814 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	6,653	1.584 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	6,653	1.735 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	119,350	2.031 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Long Position	224	2.031 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	4,947	2.031 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	165,286	2.081 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	117,995	1.891 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	11,951	2.09 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	143,461	2.038 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	151,144	2.031 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	25,186	2.09 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	65,196	2.081 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Opening a Short Position	85	1.668 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	188,087	2.034 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	17,261	2.031 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	37,653	2.09 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	118,466	2.09 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2	1.582 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	127,384	2.038 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	10,006	1.867 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	106,749	1.891 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Short Position	2	1.588 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	123	2.022 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	72,297	1.891 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Closing a Short Position	84,847	2.081 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	8,337	2.024 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,276	1.711 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	22,625	2.022 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	26,032	1.711 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	3,678	1.806 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Increasing a Long Position	976	1.944 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	1,500	1.958 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	2	2.002 GBP
Ordinary 10 10/11p	Swaps - Equity Swaps	Reducing a Short Position	10,646	1.744 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:	29/02/2024
Contact name:	Frank Lui
Telephone number:	[phone]

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 [phone].

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

 

END