Form 8.5 (EPT/RI) - Amendment - Direct Line

GoldmanSachs International

22 March 2024

 

Amendment - due to the amendment of Equity and Derivatives transactions, the disclosure made on 14 March for dealings on 13 March 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:	13 March 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"	YES - disclosed previously for 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	9,594,639	2.3150 GBP	2.0495 GBP
Ordinary 10 10/11p	Sales	9,560,580	2.3920 GBP	2.0950 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 short position	67,844	2.0735 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	384,375	2.0735 GBP
Ordinary 10 10/11p	CFD	Opening a short position	200,000	2.0987 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	233,160	2.1168 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	1,320,995	2.1168 GBP
Ordinary 10 10/11p	CFD	Opening a long position	36,133	2.1169 GBP
Ordinary 10 10/11p	CFD	Opening a short position	35,000	2.1203 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	35,771	2.1284 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	1,733	2.1289 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	9,818	2.1289 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	68,371	2.1335 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	387,365	2.1335 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	400,000	2.1356 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	239,547	2.1358 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	500	2.1428 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	49,500	2.1428 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	91,783	2.1474 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	15,501	2.1474 GBP
Ordinary 10 10/11p	CFD	Increasing a long position	36,313	2.1509 GBP
Ordinary 10 10/11p	CFD	Opening a long position	30,242	2.1598 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	30,242	2.1598 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	68,602	2.1598 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	44,946	2.1600 GBP
Ordinary 10 10/11p	CFD	Opening a short position	1,842	2.1600 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	9,639	2.1602 GBP
Ordinary 10 10/11p	CFD	Opening a short position	1,023	2.1602 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	2,637	2.1611 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	887	2.1611 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	9,141	2.1611 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	373	2.1624 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	3,444	2.1624 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	127	2.1624 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	1,158	2.1624 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	11,940	2.1624 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	10,453	2.1648 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	361	2.1725 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	3,383	2.1725 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	444	2.1725 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	571	2.1725 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	11,718	2.1725 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	3,883	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	792	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	7,750	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	46,369	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	2,416	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	966	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	1,450	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	1,972	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	3,168	2.1853 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	528	2.1853 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	24,417	2.1948 GBP
Ordinary 10 10/11p	CFD	Increasing a short position	138,338	2.1948 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	2,272	2.2118 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	383	2.2118 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	7,869	2.2118 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	796	2.2593 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	5,393	2.2593 GBP
Ordinary 10 10/11p	CFD	Reducing a long position	1,192	2.2612 GBP
Ordinary 10 10/11p	CFD	Reducing a short position	11,114	2.7636 USD

(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:	22 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