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

Morgan Stanley & Co. Int'l plc

08 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:	07 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	2,345,340	2.2365 GBP	2.1614 GBP
Ordinary 10 10/11p	SALES	2,214,882	2.2430 GBP	2.1540 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	639	2.1662 GBP
Ordinary 10 10/11p	CFD	increasing a long position	2,300	2.1686 GBP
Ordinary 10 10/11p	CFD	increasing a long position	2,589	2.1747 GBP
Ordinary 10 10/11p	CFD	increasing a long position	78,901	2.1965 GBP
Ordinary 10 10/11p	CFD	increasing a long position	9,059	2.1965 GBP
Ordinary 10 10/11p	CFD	increasing a long position	38,495	2.2025 GBP
Ordinary 10 10/11p	CFD	increasing a long position	175	2.2080 GBP
Ordinary 10 10/11p	CFD	increasing a short position	55	2.1490 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,338	2.1606 GBP
Ordinary 10 10/11p	CFD	increasing a short position	8,487	2.1771 GBP
Ordinary 10 10/11p	CFD	increasing a short position	137,198	2.1910 GBP
Ordinary 10 10/11p	CFD	increasing a short position	92,620	2.1979 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,193	2.1991 GBP
Ordinary 10 10/11p	CFD	increasing a short position	4,100	2.2023 GBP
Ordinary 10 10/11p	CFD	increasing a short position	163,317	2.2050 GBP
Ordinary 10 10/11p	CFD	increasing a short position	43,119	2.2050 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,038	2.2050 GBP
Ordinary 10 10/11p	CFD	increasing a short position	603	2.2052 GBP
Ordinary 10 10/11p	CFD	increasing a short position	12,000	2.2063 GBP
Ordinary 10 10/11p	CFD	increasing a short position	7,639	2.2064 GBP
Ordinary 10 10/11p	CFD	increasing a short position	65,438	2.2083 GBP
Ordinary 10 10/11p	CFD	increasing a short position	19,458	2.2117 GBP
Ordinary 10 10/11p	CFD	increasing a short position	150,650	2.2117 GBP
Ordinary 10 10/11p	CFD	increasing a short position	31,066	2.2121 GBP
Ordinary 10 10/11p	CFD	increasing a short position	98,826	2.2121 GBP
Ordinary 10 10/11p	CFD	increasing a short position	23,975	2.2125 GBP
Ordinary 10 10/11p	CFD	increasing a short position	26,361	2.2161 GBP
Ordinary 10 10/11p	CFD	increasing a short position	37	2.2180 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,300	2.1692 GBP
Ordinary 10 10/11p	CFD	reducing a long position	27,638	2.1712 GBP
Ordinary 10 10/11p	CFD	reducing a long position	60,350	2.1850 GBP
Ordinary 10 10/11p	CFD	reducing a long position	9	2.1990 GBP
Ordinary 10 10/11p	CFD	reducing a long position	38,495	2.1998 GBP
Ordinary 10 10/11p	CFD	reducing a long position	40,668	2.2047 GBP
Ordinary 10 10/11p	CFD	reducing a long position	251	2.2050 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,752	2.2050 GBP
Ordinary 10 10/11p	CFD	reducing a long position	544	2.2050 GBP
Ordinary 10 10/11p	CFD	reducing a long position	9,251	2.2061 GBP
Ordinary 10 10/11p	CFD	reducing a long position	5,874	2.2076 GBP
Ordinary 10 10/11p	CFD	reducing a long position	32,668	2.2095 GBP
Ordinary 10 10/11p	CFD	reducing a short position	12,729	2.1555 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.1590 GBP
Ordinary 10 10/11p	CFD	reducing a short position	907	2.1590 GBP
Ordinary 10 10/11p	CFD	reducing a short position	99	2.1650 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,407	2.1685 GBP
Ordinary 10 10/11p	CFD	reducing a short position	28,817	2.1747 GBP
Ordinary 10 10/11p	CFD	reducing a short position	23,835	2.1908 GBP
Ordinary 10 10/11p	CFD	reducing a short position	91	2.1959 GBP
Ordinary 10 10/11p	CFD	reducing a short position	11,169	2.1959 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,076	2.1992 GBP
Ordinary 10 10/11p	CFD	reducing a short position	468	2.2048 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,913	2.2050 GBP
Ordinary 10 10/11p	CFD	reducing a short position	557	2.2053 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10,000	2.2060 GBP
Ordinary 10 10/11p	CFD	reducing a short position	47,772	2.2062 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,741	2.2064 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,794	2.2064 GBP
Ordinary 10 10/11p	CFD	reducing a short position	5,589	2.2089 GBP
Ordinary 10 10/11p	CFD	reducing a short position	864	2.2090 GBP
Ordinary 10 10/11p	CFD	reducing a short position	82,606	2.2093 GBP
Ordinary 10 10/11p	CFD	reducing a short position	137,198	2.2113 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:	08 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