Form 8.5 (EPT/RI) - Amendment - DIRECT LINE PLC

GoldmanSachs International

21 March 2024

 

Amendment - due to the amendment of Equity and Derivatives transactions, the disclosure made on 29 February for dealings on 28 February has been updated. Sections 2(a) and 2(b) have been updated.

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:	(GS) GOLDMAN SACHS 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:	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 the offer?      If it is a cash offer or possible cash offer, state "N/A"	NO

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	19,509,896	2.3672 GBP	1.5585 GBP
Ordinary 10 10/11p	Sales	14,841,999	2.1060 GBP	1.5585 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	Reducing a long position	10,475	1.5637 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	296	1.5843 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	1,104	1.5843 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	324	1.5875 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	593	1.5878 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	372	1.5998 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	143	1.6018 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	584	1.6335 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	131	1.6335 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	175	1.6335 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	142	1.6335 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	486	1.6335 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	100,000	1.7756 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	10,730	1.7756 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	31	1.7993 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	49,196	1.8006 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	4,649	1.8040 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	30,504	1.8356 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	51,404	1.8409 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	36,717	1.8409 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	150,000	1.8784 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	16,095	1.8784 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	84,101	1.8793 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	6,590	1.8795 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	2,194	1.8795 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	247	1.8795 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	281	1.8795 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	2,893	1.8820 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	553	1.8820 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	247	1.8820 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	202	1.8820 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	731	1.8908 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	286	1.8908 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	13	1.8908 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	23	1.8908 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	31,580	1.9206 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	15,531	1.9388 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	14,574	1.9388 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	1,224	1.9388 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	2,879	1.9388 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	8,063	1.9388 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	3,180	1.9397 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	944	1.9397 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	16,095	1.9445 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	150,000	1.9445 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	8,704	1.9548 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	371,101	1.9548 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	91,855	1.9610 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	86,194	1.9610 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	7,235	1.9610 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	17,028	1.9610 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	47,688	1.9610 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	77,373	1.9610 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	39,475	1.9670 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	183,710	1.9691 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	172,388	1.9691 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	14,470	1.9691 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	34,056	1.9691 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	95,376	1.9691 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	5,500	1.9713 GBP
Ordinary 10 10/11p	CFD	Opening a short position	175,725	1.9721 GBP
Ordinary 10 10/11p	CFD	Opening a short position	1,775	1.9721 GBP
Ordinary 10 10/11p	CFD	Opening a short position	15,790	1.9757 GBP
Ordinary 10 10/11p	CFD	Opening a short position	183,710	1.9766 GBP
Ordinary 10 10/11p	CFD	Opening a short position	14,470	1.9766 GBP
Ordinary 10 10/11p	CFD	Opening a short position	95,376	1.9766 GBP
Ordinary 10 10/11p	CFD	Opening a short position	34,056	1.9766 GBP
Ordinary 10 10/11p	CFD	Opening a short position	172,388	1.9766 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	61,443	1.9904 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	348,178	1.9904 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	2,996	1.9904 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	44,061	1.9910 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	44,061	1.9910 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	199,645	1.9943 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	90,891	1.9975 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	515,048	1.9975 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	55,502	2.0003 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	314,514	2.0003 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	33,666	2.0013 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	1,415	2.0013 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	9,997	2.0013 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	1,823	2.0013 GBP
Ordinary 10 10/11p	CFD	Opening a short position	13,654	2.0062 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	77,373	2.0062 GBP
Ordinary 10 10/11p	CFD	Opening a long position	2,658	2.0076 GBP
Ordinary 10 10/11p	CFD	Opening a long position	38,896	2.0076 GBP
Ordinary 10 10/11p	CFD	Opening a long position	239,162	2.0076 GBP
Ordinary 10 10/11p	CFD	Opening a long position	4,794	2.0076 GBP
Ordinary 10 10/11p	CFD	Opening a long position	2,683	2.0076 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	20,551	2.0088 GBP
Ordinary 10 10/11p	CFD	Opening a long position	3,342	2.0088 GBP
Ordinary 10 10/11p	CFD	Opening a long position	412	2.0088 GBP
Ordinary 10 10/11p	CFD	Opening a long position	231	2.0088 GBP
Ordinary 10 10/11p	CFD	Opening a long position	228	2.0088 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	10,724	2.0169 GBP
Ordinary 10 10/11p	CFD	Opening a long position	77,790	2.0176 GBP
Ordinary 10 10/11p	CFD	Opening a long position	5,316	2.0176 GBP
Ordinary 10 10/11p	CFD	Opening a long position	5,364	2.0176 GBP
Ordinary 10 10/11p	CFD	Opening a long position	9,588	2.0176 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	478,325	2.0176 GBP
Ordinary 10 10/11p	CFD	Opening a long position	19,448	2.0177 GBP
Ordinary 10 10/11p	CFD	Opening a long position	2,396	2.0177 GBP
Ordinary 10 10/11p	CFD	Opening a long position	1,328	2.0177 GBP
Ordinary 10 10/11p	CFD	Opening a long position	1,340	2.0177 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	27,688	2.0218 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	81,452	2.0220 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	172,355	2.0222 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	593	2.0223 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	92,172	2.0226 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	73,785	2.0250 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	11,813	2.0264 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	715	2.0264 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	3,508	2.0264 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	735	2.0264 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	350,000	2.0276 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	136,753	2.0307 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	774,942	2.0307 GBP
Ordinary 10 10/11p	CFD	Opening a short position	686,789	2.0333 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	183,710	2.0346 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	172,388	2.0346 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	14,470	2.0346 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	34,056	2.0346 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	95,376	2.0346 GBP
Ordinary 10 10/11p	CFD	Opening a long position	5,314	2.0376 GBP
Ordinary 10 10/11p	CFD	Opening a long position	9,586	2.0376 GBP
Ordinary 10 10/11p	CFD	Opening a long position	77,792	2.0376 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	478,324	2.0376 GBP
Ordinary 10 10/11p	CFD	Opening a long position	5,360	2.0376 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	34,156	2.0406 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	136,540	2.0439 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	773,729	2.0439 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	68,270	2.0454 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	386,864	2.0454 GBP
Ordinary 10 10/11p	CFD	Opening a short position	773,729	2.0459 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	136,540	2.0459 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	560,903	2.0479 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	1,850,000	2.0479 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	1,000,000	2.0479 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	840,597	2.0479 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	1,300,000	2.0479 GBP
Ordinary 10 10/11p	CFD	Opening a short position	699	2.0496 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	38,649	2.0513 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	699	2.0823 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	1,030	2.0879 GBP
Ordinary 10 10/11p	CFD	Opening a short position	37,244	2.0964 GBP
Ordinary 10 10/11p	Call Option	Opening a long position	287,886	0.0344 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)

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:	21 March 2024
Contact name:	Papa Lette and Andrzej Szyszka
Telephone number:	[phone] / [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 disclosure requirements on [phone].

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

 

END