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

Morgan Stanley & Co. Int'l plc

19 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:	18 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	SALES	6,271,413	2.1089 GBP	2.0730 GBP
Ordinary 10 10/11p	PURCHASES	3,401,183	2.1150 GBP	2.0720 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	29,868	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,543	2.0930 GBP
Ordinary 10 10/11p	CFD	increasing a long position	40,923	2.0994 GBP
Ordinary 10 10/11p	CFD	increasing a long position	10,286	2.0995 GBP
Ordinary 10 10/11p	CFD	increasing a long position	2,939	2.1053 GBP
Ordinary 10 10/11p	CFD	increasing a long position	4,859,770	2.1060 GBP
Ordinary 10 10/11p	CFD	increasing a long position	5,479	2.1082 GBP
Ordinary 10 10/11p	CFD	increasing a short position	35,026	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	4,312	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	17,566	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	110,529	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,739	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	7,514	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	55,247	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	85,586	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	456,791	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	4,571	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	390,523	2.0902 GBP
Ordinary 10 10/11p	CFD	increasing a short position	4,179	2.0925 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,981	2.0929 GBP
Ordinary 10 10/11p	CFD	increasing a short position	114,814	2.0930 GBP
Ordinary 10 10/11p	CFD	increasing a short position	102,743	2.0932 GBP
Ordinary 10 10/11p	CFD	increasing a short position	16,137	2.0936 GBP
Ordinary 10 10/11p	CFD	increasing a short position	56,546	2.0943 GBP
Ordinary 10 10/11p	CFD	increasing a short position	7	2.0966 GBP
Ordinary 10 10/11p	CFD	increasing a short position	157,000	2.0973 GBP
Ordinary 10 10/11p	CFD	increasing a short position	21,257	2.0982 GBP
Ordinary 10 10/11p	CFD	increasing a short position	25,190	2.0982 GBP
Ordinary 10 10/11p	CFD	increasing a short position	933	2.0984 GBP
Ordinary 10 10/11p	CFD	increasing a short position	587	2.0990 GBP
Ordinary 10 10/11p	CFD	increasing a short position	25	2.1002 GBP
Ordinary 10 10/11p	CFD	increasing a short position	18,858	2.1011 GBP
Ordinary 10 10/11p	CFD	increasing a short position	950,298	2.1018 GBP
Ordinary 10 10/11p	CFD	increasing a short position	61,231	2.1034 GBP
Ordinary 10 10/11p	CFD	increasing a short position	83,362	2.1036 GBP
Ordinary 10 10/11p	CFD	increasing a short position	15,604	2.1038 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,215	2.1063 GBP
Ordinary 10 10/11p	CFD	increasing a short position	38,215	2.1064 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,093	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a long position	44,338	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a long position	116	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a long position	15	2.0911 GBP
Ordinary 10 10/11p	CFD	reducing a long position	22,641	2.0928 GBP
Ordinary 10 10/11p	CFD	reducing a long position	83,475	2.0967 GBP
Ordinary 10 10/11p	CFD	reducing a long position	9,584	2.0967 GBP
Ordinary 10 10/11p	CFD	reducing a long position	7,700	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a long position	10,286	2.0984 GBP
Ordinary 10 10/11p	CFD	reducing a long position	74,296	2.0989 GBP
Ordinary 10 10/11p	CFD	reducing a long position	3,963	2.0990 GBP
Ordinary 10 10/11p	CFD	reducing a long position	6,057	2.0990 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,939	2.1024 GBP
Ordinary 10 10/11p	CFD	reducing a long position	5,363	2.1042 GBP
Ordinary 10 10/11p	CFD	reducing a long position	4,467	2.1063 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,514	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	572,806	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,571	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	171	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	110,529	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	431	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10,238	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,254	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	13,739	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	456,791	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	12,834	2.0906 GBP
Ordinary 10 10/11p	CFD	reducing a short position	17,184	2.0906 GBP
Ordinary 10 10/11p	CFD	reducing a short position	8,275	2.0923 GBP
Ordinary 10 10/11p	CFD	reducing a short position	237,064	2.0953 GBP
Ordinary 10 10/11p	CFD	reducing a short position	23,420	2.0964 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,114	2.0965 GBP
Ordinary 10 10/11p	CFD	reducing a short position	443	2.0976 GBP
Ordinary 10 10/11p	CFD	reducing a short position	45,600	2.0989 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,420	2.0997 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.1000 GBP
Ordinary 10 10/11p	CFD	reducing a short position	10,908	2.1003 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9,501	2.1011 GBP
Ordinary 10 10/11p	CFD	reducing a short position	717	2.1028 GBP
Ordinary 10 10/11p	CFD	reducing a short position	8,836	2.1056 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,302	2.1064 GBP
Ordinary 10 10/11p	CFD	reducing a short position	38,491	2.1075 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,085	2.1082 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.1121 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:	19 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