Form 8.5 (EPT/RI)- Direct Line Insurance Group plc

Morgan Stanley & Co. Int'l plc

04 March 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:	Morgan Stanley & Co. International plc
(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:	01 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 this offer?      If it is a cash offer or possible cash offer, state "N/A"	YES- 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	2,701,318	2.0910 GBP	2.0047 GBP
Ordinary 10 10/11p	SALES	1,864,452	2.0930 GBP	2.0013 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	increasing a long position	333	2.0322 GBP
Ordinary 10 10/11p	CFD	increasing a long position	4,096	2.0322 GBP
Ordinary 10 10/11p	CFD	increasing a long position	102	2.0510 GBP
Ordinary 10 10/11p	CFD	increasing a long position	87	2.0510 GBP
Ordinary 10 10/11p	CFD	increasing a long position	22,755	2.0607 GBP
Ordinary 10 10/11p	CFD	increasing a long position	3,238	2.0659 GBP
Ordinary 10 10/11p	CFD	increasing a long position	15,484	2.0676 GBP
Ordinary 10 10/11p	CFD	increasing a long position	8,261	2.0676 GBP
Ordinary 10 10/11p	CFD	increasing a long position	11,736	2.0697 GBP
Ordinary 10 10/11p	CFD	increasing a long position	25,401	2.0698 GBP
Ordinary 10 10/11p	CFD	increasing a long position	11	2.0725 GBP
Ordinary 10 10/11p	CFD	increasing a long position	78,286	2.0751 GBP
Ordinary 10 10/11p	CFD	increasing a long position	2,476	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,034	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a long position	10,222	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a long position	640	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a long position	271	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a long position	9,007	2.0782 GBP
Ordinary 10 10/11p	CFD	increasing a long position	9,567	2.0789 GBP
Ordinary 10 10/11p	CFD	increasing a long position	5,185	2.0793 GBP
Ordinary 10 10/11p	CFD	increasing a long position	2,132	2.0832 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,607	2.0861 GBP
Ordinary 10 10/11p	CFD	increasing a long position	28,932	2.0863 GBP
Ordinary 10 10/11p	CFD	increasing a long position	3,974	2.0897 GBP
Ordinary 10 10/11p	CFD	increasing a short position	100	2.0240 GBP
Ordinary 10 10/11p	CFD	increasing a short position	35	2.0312 GBP
Ordinary 10 10/11p	CFD	increasing a short position	39,382	2.0380 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,956	2.0469 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,487	2.0472 GBP
Ordinary 10 10/11p	CFD	increasing a short position	185	2.0473 GBP
Ordinary 10 10/11p	CFD	increasing a short position	15	2.0480 GBP
Ordinary 10 10/11p	CFD	increasing a short position	213	2.0481 GBP
Ordinary 10 10/11p	CFD	increasing a short position	10,486	2.0481 GBP
Ordinary 10 10/11p	CFD	increasing a short position	553,569	2.0556 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,531	2.0621 GBP
Ordinary 10 10/11p	CFD	increasing a short position	11,330	2.0663 GBP
Ordinary 10 10/11p	CFD	increasing a short position	994	2.0665 GBP
Ordinary 10 10/11p	CFD	increasing a short position	16,087	2.0688 GBP
Ordinary 10 10/11p	CFD	increasing a short position	182	2.0696 GBP
Ordinary 10 10/11p	CFD	increasing a short position	394	2.0701 GBP
Ordinary 10 10/11p	CFD	increasing a short position	962	2.0701 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,905	2.0701 GBP
Ordinary 10 10/11p	CFD	increasing a short position	62,943	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a short position	264,024	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a short position	39,107	2.0770 GBP
Ordinary 10 10/11p	CFD	increasing a short position	14,611	2.0772 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,406	2.0805 GBP
Ordinary 10 10/11p	CFD	increasing a short position	413	2.0833 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,776	2.0835 GBP
Ordinary 10 10/11p	CFD	increasing a short position	100	2.0866 GBP
Ordinary 10 10/11p	CFD	increasing a short position	22,762	2.0867 GBP
Ordinary 10 10/11p	CFD	increasing a short position	200,000	2.0897 GBP
Ordinary 10 10/11p	CFD	reducing a long position	16,432	2.0516 GBP
Ordinary 10 10/11p	CFD	reducing a long position	62,330	2.0573 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,029	2.0589 GBP
Ordinary 10 10/11p	CFD	reducing a long position	107	2.0589 GBP
Ordinary 10 10/11p	CFD	reducing a long position	35	2.0589 GBP
Ordinary 10 10/11p	CFD	reducing a long position	122	2.0589 GBP
Ordinary 10 10/11p	CFD	reducing a long position	6,452	2.0695 GBP
Ordinary 10 10/11p	CFD	reducing a long position	7,785	2.0695 GBP
Ordinary 10 10/11p	CFD	reducing a long position	56,194	2.0695 GBP
Ordinary 10 10/11p	CFD	reducing a long position	42	2.0745 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,911	2.0770 GBP
Ordinary 10 10/11p	CFD	reducing a long position	3,502	2.0770 GBP
Ordinary 10 10/11p	CFD	reducing a long position	17,842	2.0770 GBP
Ordinary 10 10/11p	CFD	reducing a short position	6,382	2.0232 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,197	2.0324 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.0400 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,747	2.0461 GBP
Ordinary 10 10/11p	CFD	reducing a short position	136	2.0530 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,000	2.0530 GBP
Ordinary 10 10/11p	CFD	reducing a short position	35,086	2.0550 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,576	2.0602 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10,486	2.0617 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9,628	2.0658 GBP
Ordinary 10 10/11p	CFD	reducing a short position	12,895	2.0659 GBP
Ordinary 10 10/11p	CFD	reducing a short position	8,370	2.0664 GBP
Ordinary 10 10/11p	CFD	reducing a short position	18,895	2.0664 GBP
Ordinary 10 10/11p	CFD	reducing a short position	994	2.0665 GBP
Ordinary 10 10/11p	CFD	reducing a short position	13,119	2.0692 GBP
Ordinary 10 10/11p	CFD	reducing a short position	42,425	2.0700 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10	2.0705 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,015	2.0709 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,360	2.0738 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,660	2.0756 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,617	2.0768 GBP
Ordinary 10 10/11p	CFD	reducing a short position	42,654	2.0770 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,619	2.0770 GBP
Ordinary 10 10/11p	CFD	reducing a short position	172	2.0770 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.0770 GBP
Ordinary 10 10/11p	CFD	reducing a short position	17,423	2.0772 GBP
Ordinary 10 10/11p	CFD	reducing a short position	24,750	2.0772 GBP
Ordinary 10 10/11p	CFD	reducing a short position	163,644	2.0788 GBP
Ordinary 10 10/11p	CFD	reducing a short position	13,855	2.0789 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,799	2.0793 GBP
Ordinary 10 10/11p	CFD	reducing a short position	96,845	2.0794 GBP
Ordinary 10 10/11p	CFD	reducing a short position	44,162	2.0797 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10,543	2.0864 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:	04 March 2024
Contact name:	Craig Horsley
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