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

Morgan Stanley & Co. Int'l plc

06 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:	05 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	3,978,177	2.1600 GBP	2.0905 GBP
Ordinary 10 10/11p	SALES	2,552,005	2.1601 GBP	2.0875 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	4,751	2.1017 GBP
Ordinary 10 10/11p	CFD	increasing a long position	6,284	2.1046 GBP
Ordinary 10 10/11p	CFD	increasing a long position	37	2.1203 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,633	2.1204 GBP
Ordinary 10 10/11p	CFD	increasing a long position	209	2.1221 GBP
Ordinary 10 10/11p	CFD	increasing a long position	47,145	2.1298 GBP
Ordinary 10 10/11p	CFD	increasing a long position	5,412	2.1298 GBP
Ordinary 10 10/11p	CFD	increasing a long position	258	2.1320 GBP
Ordinary 10 10/11p	CFD	increasing a long position	278	2.1323 GBP
Ordinary 10 10/11p	CFD	increasing a long position	4,802	2.1386 GBP
Ordinary 10 10/11p	CFD	increasing a long position	21,678	2.1464 GBP
Ordinary 10 10/11p	CFD	increasing a long position	9,591	2.1518 GBP
Ordinary 10 10/11p	CFD	increasing a long position	15,282	2.1557 GBP
Ordinary 10 10/11p	CFD	increasing a long position	13,534	2.1559 GBP
Ordinary 10 10/11p	CFD	increasing a long position	929	2.1600 GBP
Ordinary 10 10/11p	CFD	increasing a long position	8,618	2.1600 GBP
Ordinary 10 10/11p	CFD	increasing a long position	12,545	2.1600 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,335	2.0910 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,706	2.0914 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,970	2.0958 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,300	2.0965 GBP
Ordinary 10 10/11p	CFD	increasing a short position	93,964	2.0979 GBP
Ordinary 10 10/11p	CFD	increasing a short position	100,000	2.0980 GBP
Ordinary 10 10/11p	CFD	increasing a short position	20,655	2.0994 GBP
Ordinary 10 10/11p	CFD	increasing a short position	300	2.1001 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,905	2.1002 GBP
Ordinary 10 10/11p	CFD	increasing a short position	21,229	2.1005 GBP
Ordinary 10 10/11p	CFD	increasing a short position	229,698	2.1026 GBP
Ordinary 10 10/11p	CFD	increasing a short position	39,502	2.1026 GBP
Ordinary 10 10/11p	CFD	increasing a short position	253,413	2.1026 GBP
Ordinary 10 10/11p	CFD	increasing a short position	16,668	2.1043 GBP
Ordinary 10 10/11p	CFD	increasing a short position	23,685	2.1044 GBP
Ordinary 10 10/11p	CFD	increasing a short position	69	2.1045 GBP
Ordinary 10 10/11p	CFD	increasing a short position	50,217	2.1084 GBP
Ordinary 10 10/11p	CFD	increasing a short position	6,486	2.1084 GBP
Ordinary 10 10/11p	CFD	increasing a short position	32,942	2.1089 GBP
Ordinary 10 10/11p	CFD	increasing a short position	10,355	2.1089 GBP
Ordinary 10 10/11p	CFD	increasing a short position	30,888	2.1117 GBP
Ordinary 10 10/11p	CFD	increasing a short position	101	2.1131 GBP
Ordinary 10 10/11p	CFD	increasing a short position	39,491	2.1138 GBP
Ordinary 10 10/11p	CFD	increasing a short position	235	2.1164 GBP
Ordinary 10 10/11p	CFD	increasing a short position	16,901	2.1198 GBP
Ordinary 10 10/11p	CFD	increasing a short position	372,144	2.1268 GBP
Ordinary 10 10/11p	CFD	increasing a short position	68,621	2.1336 GBP
Ordinary 10 10/11p	CFD	increasing a short position	19,300	2.1361 GBP
Ordinary 10 10/11p	CFD	increasing a short position	15,552	2.1365 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,997	2.1427 GBP
Ordinary 10 10/11p	CFD	increasing a short position	246	2.1439 GBP
Ordinary 10 10/11p	CFD	increasing a short position	35,044	2.1451 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,268	2.1480 GBP
Ordinary 10 10/11p	CFD	increasing a short position	4,109	2.1494 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,323	2.1587 GBP
Ordinary 10 10/11p	CFD	increasing a short position	820	2.1595 GBP
Ordinary 10 10/11p	CFD	increasing a short position	60,929	2.1600 GBP
Ordinary 10 10/11p	CFD	reducing a long position	11,997	2.1065 GBP
Ordinary 10 10/11p	CFD	reducing a long position	6,284	2.1127 GBP
Ordinary 10 10/11p	CFD	reducing a long position	3,166	2.1192 GBP
Ordinary 10 10/11p	CFD	reducing a long position	46,499	2.1192 GBP
Ordinary 10 10/11p	CFD	reducing a long position	17,168	2.1192 GBP
Ordinary 10 10/11p	CFD	reducing a long position	8,636	2.1192 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,115	2.1192 GBP
Ordinary 10 10/11p	CFD	reducing a long position	5,797	2.1192 GBP
Ordinary 10 10/11p	CFD	reducing a long position	3,114	2.1202 GBP
Ordinary 10 10/11p	CFD	reducing a long position	25,278	2.1202 GBP
Ordinary 10 10/11p	CFD	reducing a long position	68,462	2.1202 GBP
Ordinary 10 10/11p	CFD	reducing a long position	4,660	2.1202 GBP
Ordinary 10 10/11p	CFD	reducing a long position	12,716	2.1202 GBP
Ordinary 10 10/11p	CFD	reducing a long position	8,534	2.1202 GBP
Ordinary 10 10/11p	CFD	reducing a long position	11,531	2.1234 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,633	2.1263 GBP
Ordinary 10 10/11p	CFD	reducing a long position	64	2.1280 GBP
Ordinary 10 10/11p	CFD	reducing a long position	17,672	2.1309 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,405	2.1341 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,549	2.1341 GBP
Ordinary 10 10/11p	CFD	reducing a long position	4,882	2.1370 GBP
Ordinary 10 10/11p	CFD	reducing a long position	34,931	2.1438 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,514	2.1500 GBP
Ordinary 10 10/11p	CFD	reducing a long position	16,307	2.1600 GBP
Ordinary 10 10/11p	CFD	reducing a short position	575	2.0968 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9,408	2.0991 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10	2.1078 GBP
Ordinary 10 10/11p	CFD	reducing a short position	18,343	2.1146 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,273	2.1228 GBP
Ordinary 10 10/11p	CFD	reducing a short position	23,791	2.1409 GBP
Ordinary 10 10/11p	CFD	reducing a short position	30,024	2.1416 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,289	2.1433 GBP
Ordinary 10 10/11p	CFD	reducing a short position	159,876	2.1488 GBP
Ordinary 10 10/11p	CFD	reducing a short position	714	2.1515 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,921	2.1520 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9	2.1532 GBP
Ordinary 10 10/11p	CFD	reducing a short position	12,153	2.1596 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9,076	2.1596 GBP
Ordinary 10 10/11p	CFD	reducing a short position	275	2.1598 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,975	2.1599 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,684	2.1600 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.1600 GBP
Ordinary 10 10/11p	CFD	reducing a short position	23	2.1600 GBP
Ordinary 10 10/11p	CFD	reducing a short position	104	2.1600 GBP
Ordinary 10 10/11p	CFD	reducing a short position	873	2.1600 GBP
Ordinary 10 10/11p	CFD	reducing a short position	35,607	2.1600 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:	06 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