Form 8.3 - Direct Line Group Plc

BNP Paribas London

01 March 2024

 

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:	BNP Paribas SA
(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.
(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:
(e)  Date position held/dealing undertaken:        For an opening position disclosure, state the latest practicable date prior to the disclosure	29/02/2024
(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: Ageas SA/NV

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:

GB00BY9D0Y18 (Ordinary 10 10/11p)

Interests

Short Positions

	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	22,982,613	1.75	-5,908,148	-.45
(2) Cash-settled derivatives:	2,963,943	.23	-13,628,967	-1.04
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0		0
TOTAL:	25,946,556	1.98	-19,537,115	-1.49

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:
Details, including nature of the rights concerned and relevant percentages:

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
GB00BY9D0Y18	Purchase	859	GBP 1.9945
GB00BY9D0Y18	Purchase	114	GBP 1.9955
GB00BY9D0Y18	Purchase	5117	GBP 1.9965
GB00BY9D0Y18	Purchase	876	GBP 2.0003
GB00BY9D0Y18	Purchase	47	GBP 2.0020
GB00BY9D0Y18	Purchase	2541	GBP 2.0030
GB00BY9D0Y18	Purchase	1571	GBP 2.0040
GB00BY9D0Y18	Purchase	467	GBP 2.0050
GB00BY9D0Y18	Purchase	6176	GBP 2.0080
GB00BY9D0Y18	Purchase	1818	GBP 2.0085
GB00BY9D0Y18	Purchase	2538	GBP 2.0090
GB00BY9D0Y18	Purchase	450	GBP 2.0095
GB00BY9D0Y18	Purchase	2742	GBP 2.0100
GB00BY9D0Y18	Purchase	5482	GBP 2.0105
GB00BY9D0Y18	Purchase	945	GBP 2.0110
GB00BY9D0Y18	Purchase	13585	GBP 2.0115
GB00BY9D0Y18	Purchase	3613	GBP 2.0125
GB00BY9D0Y18	Purchase	1637	GBP 2.0135
GB00BY9D0Y18	Purchase	662663	GBP 2.0150
GB00BY9D0Y18	Purchase	394883	GBP 2.0159
GB00BY9D0Y18	Purchase	1308	GBP 2.0165
GB00BY9D0Y18	Purchase	193	GBP 2.0180
GB00BY9D0Y18	Purchase	1917	GBP 2.0190
GB00BY9D0Y18	Purchase	6255	GBP 2.0195
GB00BY9D0Y18	Purchase	185989	GBP 2.0200
GB00BY9D0Y18	Purchase	9640	GBP 2.0213
GB00BY9D0Y18	Purchase	537	GBP 2.0220
GB00BY9D0Y18	Purchase	2431	GBP 2.0230
GB00BY9D0Y18	Purchase	27627	GBP 2.0240
GB00BY9D0Y18	Purchase	56796	GBP 2.0245
GB00BY9D0Y18	Purchase	1888	GBP 2.0250
GB00BY9D0Y18	Purchase	29841	GBP 2.0257
GB00BY9D0Y18	Purchase	3235	GBP 2.0260
GB00BY9D0Y18	Purchase	63499	GBP 2.0267
GB00BY9D0Y18	Purchase	65927	GBP 2.0269
GB00BY9D0Y18	Purchase	1485	GBP 2.0270
GB00BY9D0Y18	Purchase	41945	GBP 2.0277
GB00BY9D0Y18	Purchase	1533	GBP 2.0280
GB00BY9D0Y18	Purchase	3528	GBP 2.0290
GB00BY9D0Y18	Purchase	191646	GBP 2.0300
GB00BY9D0Y18	Purchase	4473	GBP 2.0310
GB00BY9D0Y18	Purchase	4474	GBP 2.0320
GB00BY9D0Y18	Purchase	530	GBP 2.0330
GB00BY9D0Y18	Purchase	1146	GBP 2.0340
GB00BY9D0Y18	Purchase	1119	GBP 2.0344
GB00BY9D0Y18	Purchase	264	GBP 2.0345
GB00BY9D0Y18	Purchase	300	GBP 2.0350
GB00BY9D0Y18	Purchase	5622	GBP 2.0360
GB00BY9D0Y18	Purchase	2587	GBP 2.0365
GB00BY9D0Y18	Purchase	3936	GBP 2.0370
GB00BY9D0Y18	Purchase	52798	GBP 2.0374
GB00BY9D0Y18	Purchase	5530	GBP 2.0380
GB00BY9D0Y18	Purchase	42827	GBP 2.0390
GB00BY9D0Y18	Purchase	70501	GBP 2.0400
GB00BY9D0Y18	Purchase	176169	GBP 2.0405
GB00BY9D0Y18	Purchase	12182	GBP 2.0410
GB00BY9D0Y18	Purchase	1029	GBP 2.0415
GB00BY9D0Y18	Purchase	10325	GBP 2.0420
GB00BY9D0Y18	Purchase	68010	GBP 2.0425
GB00BY9D0Y18	Purchase	258361	GBP 2.0430
GB00BY9D0Y18	Purchase	6369	GBP 2.0431
GB00BY9D0Y18	Purchase	8925	GBP 2.0440
GB00BY9D0Y18	Purchase	10897	GBP 2.0450
GB00BY9D0Y18	Purchase	3103	GBP 2.0455
GB00BY9D0Y18	Purchase	10001	GBP 2.0460
GB00BY9D0Y18	Purchase	2220	GBP 2.0465
GB00BY9D0Y18	Purchase	7554	GBP 2.0470
GB00BY9D0Y18	Purchase	5636	GBP 2.0480
GB00BY9D0Y18	Purchase	2685	GBP 2.0485
GB00BY9D0Y18	Purchase	30997	GBP 2.0490
GB00BY9D0Y18	Purchase	14197	GBP 2.0495
GB00BY9D0Y18	Purchase	944182	GBP 2.0500
GB00BY9D0Y18	Purchase	7385	GBP 2.0506
GB00BY9D0Y18	Purchase	1038	GBP 2.0510
GB00BY9D0Y18	Purchase	2631	GBP 2.0520
GB00BY9D0Y18	Purchase	600	GBP 2.0540
GB00BY9D0Y18	Purchase	1518	GBP 2.0550
GB00BY9D0Y18	Purchase	1195	GBP 2.0560
GB00BY9D0Y18	Purchase	506	GBP 2.0565
GB00BY9D0Y18	Sale	-2	GBP 1.9965
GB00BY9D0Y18	Sale	-728	GBP 1.9970
GB00BY9D0Y18	Sale	-2596	GBP 2.0080
GB00BY9D0Y18	Sale	-3	GBP 2.0085
GB00BY9D0Y18	Sale	-640	GBP 2.0110
GB00BY9D0Y18	Sale	-666	GBP 2.0120
GB00BY9D0Y18	Sale	-560	GBP 2.0130
GB00BY9D0Y18	Sale	-593	GBP 2.0140
GB00BY9D0Y18	Sale	-2	GBP 2.0150
GB00BY9D0Y18	Sale	-198	GBP 2.0170
GB00BY9D0Y18	Sale	-1964	GBP 2.0190
GB00BY9D0Y18	Sale	-300	GBP 2.0220
GB00BY9D0Y18	Sale	-2379	GBP 2.0230
GB00BY9D0Y18	Sale	-1217	GBP 2.0240
GB00BY9D0Y18	Sale	-1666	GBP 2.0250
GB00BY9D0Y18	Sale	-542	GBP 2.0260
GB00BY9D0Y18	Sale	-2283	GBP 2.0280
GB00BY9D0Y18	Sale	-5885	GBP 2.0300
GB00BY9D0Y18	Sale	-1571	GBP 2.0310
GB00BY9D0Y18	Sale	-559	GBP 2.0316
GB00BY9D0Y18	Sale	-1562	GBP 2.0320
GB00BY9D0Y18	Sale	-700	GBP 2.0330
GB00BY9D0Y18	Sale	-1608	GBP 2.0350
GB00BY9D0Y18	Sale	-2433	GBP 2.0360
GB00BY9D0Y18	Sale	-3487	GBP 2.0370
GB00BY9D0Y18	Sale	-2741	GBP 2.0380
GB00BY9D0Y18	Sale	-3018	GBP 2.0390
GB00BY9D0Y18	Sale	-1503140	GBP 2.0400
GB00BY9D0Y18	Sale	-1680	GBP 2.0410
GB00BY9D0Y18	Sale	-821	GBP 2.0420
GB00BY9D0Y18	Sale	-77422	GBP 2.0425
GB00BY9D0Y18	Sale	-2286	GBP 2.0430
GB00BY9D0Y18	Sale	-30629	GBP 2.0434
GB00BY9D0Y18	Sale	-11367	GBP 2.0435
GB00BY9D0Y18	Sale	-68597	GBP 2.0440
GB00BY9D0Y18	Sale	-7996	GBP 2.0445
GB00BY9D0Y18	Sale	-2058	GBP 2.0450
GB00BY9D0Y18	Sale	-6214	GBP 2.0460
GB00BY9D0Y18	Sale	-5008	GBP 2.0465
GB00BY9D0Y18	Sale	-40916	GBP 2.0470
GB00BY9D0Y18	Sale	-37042	GBP 2.0475
GB00BY9D0Y18	Sale	-2304	GBP 2.0480
GB00BY9D0Y18	Sale	-2080	GBP 2.0485
GB00BY9D0Y18	Sale	-4033	GBP 2.0490
GB00BY9D0Y18	Sale	-8920	GBP 2.0500
GB00BY9D0Y18	Sale	-2846	GBP 2.0510
GB00BY9D0Y18	Sale	-540	GBP 2.0520
GB00BY9D0Y18	Sale	-716	GBP 2.0540
GB00BY9D0Y18	Sale	-500	GBP 2.0550

(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 references securities	Price per unit
GB00BY9D0Y18	Contract for Difference	Opening Long Position	479,888	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Long Position	1	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-2,787,495	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-216,674	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-7,879	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-495,771	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-2,051,816	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-611,922	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-94,297	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-1,897,636	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-269,486	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-634,052	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-14,853	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-34,138	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-65,763	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Long Position	1,110,672	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-344,137	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-72,995	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Long Position	1,218	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-122,646	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-893,815	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Long Position	547,155	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-1,085,146	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-484,681	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-666,590	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Closing	662,663	2.3530 GBP
GB00BY9D0Y18	Contract for Difference	Closing	63,499	2.3668 GBP
GB00BY9D0Y18	Contract for Difference	Increasing	98,844	2.3591 GBP
GB00BY9D0Y18	Contract for Difference	Increasing	90,163	2.3591 GBP
GB00BY9D0Y18	Contract for Difference	Reducing	10,651	2.3591 GBP
GB00BY9D0Y18	Contract for Difference	Reducing	114,082	2.3530 GBP
GB00BY9D0Y18	Contract for Difference	Reducing	10,932	2.3668 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-45,341	2.0200 USD
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-14,503	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-7,946	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-137,590	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-504,571	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Short Position	-63,968	2.0200 GBP
GB00BY9D0Y18	Contract for Difference	Opening Long Position	726,162	2.0200 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)

Indemnity and other dealing arrangements

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:	01/03/2024
Contact Name	Compliance Control Room
Telephone Number:	0207 595 9695

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