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

Morgan Stanley & Co. Int'l plc

25 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:	22 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	3,176,372	2.1320 GBP	2.0900 GBP
Ordinary 10 10/11p	SALES	2,078,795	2.1380 GBP	2.0900 GBP
Ordinary 10 10/11p	SALES	6,045	2.6328 USD	2.6328 USD

(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	42,200	2.1030 GBP
Ordinary 10 10/11p	CFD	increasing a long position	30,137	2.1075 GBP
Ordinary 10 10/11p	CFD	increasing a long position	750	2.1140 GBP
Ordinary 10 10/11p	CFD	increasing a short position	6,232	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,495	2.0900 GBP
Ordinary 10 10/11p	CFD	increasing a short position	23,579	2.0922 GBP
Ordinary 10 10/11p	CFD	increasing a short position	31,571	2.0922 GBP
Ordinary 10 10/11p	CFD	increasing a short position	6,559	2.0950 GBP
Ordinary 10 10/11p	CFD	increasing a short position	66,294	2.0960 GBP
Ordinary 10 10/11p	CFD	increasing a short position	144	2.0965 GBP
Ordinary 10 10/11p	CFD	increasing a short position	90,990	2.0972 GBP
Ordinary 10 10/11p	CFD	increasing a short position	69,148	2.0982 GBP
Ordinary 10 10/11p	CFD	increasing a short position	100	2.0997 GBP
Ordinary 10 10/11p	CFD	increasing a short position	300	2.0998 GBP
Ordinary 10 10/11p	CFD	increasing a short position	53,379	2.1005 GBP
Ordinary 10 10/11p	CFD	increasing a short position	8,708	2.1012 GBP
Ordinary 10 10/11p	CFD	increasing a short position	75,846	2.1012 GBP
Ordinary 10 10/11p	CFD	increasing a short position	24,840	2.1012 GBP
Ordinary 10 10/11p	CFD	increasing a short position	37,711	2.1038 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,636	2.1050 GBP
Ordinary 10 10/11p	CFD	increasing a short position	258,605	2.1050 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,480	2.1064 GBP
Ordinary 10 10/11p	CFD	increasing a short position	795	2.1084 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,439	2.1084 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,136	2.1084 GBP
Ordinary 10 10/11p	CFD	increasing a short position	480	2.1084 GBP
Ordinary 10 10/11p	CFD	increasing a short position	11,619	2.1084 GBP
Ordinary 10 10/11p	CFD	increasing a short position	17,150	2.1089 GBP
Ordinary 10 10/11p	CFD	increasing a short position	289	2.1093 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,960	2.1099 GBP
Ordinary 10 10/11p	CFD	increasing a short position	563,444	2.1101 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,660	2.1103 GBP
Ordinary 10 10/11p	CFD	increasing a short position	64,434	2.1104 GBP
Ordinary 10 10/11p	CFD	increasing a short position	37,613	2.1107 GBP
Ordinary 10 10/11p	CFD	increasing a short position	13,718	2.1114 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,046	2.1116 GBP
Ordinary 10 10/11p	CFD	increasing a short position	22,081	2.1116 GBP
Ordinary 10 10/11p	CFD	increasing a short position	111	2.1130 GBP
Ordinary 10 10/11p	CFD	increasing a short position	71,148	2.1133 GBP
Ordinary 10 10/11p	CFD	increasing a short position	192,733	2.1141 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,920	2.1141 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,757	2.1141 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,172	2.1141 GBP
Ordinary 10 10/11p	CFD	increasing a short position	46,480	2.1141 GBP
Ordinary 10 10/11p	CFD	increasing a short position	8,542	2.1141 GBP
Ordinary 10 10/11p	CFD	increasing a short position	9,734	2.1161 GBP
Ordinary 10 10/11p	CFD	increasing a short position	400	2.1192 GBP
Ordinary 10 10/11p	CFD	increasing a short position	29,434	2.1231 GBP
Ordinary 10 10/11p	CFD	increasing a short position	37,487	2.1415 GBP
Ordinary 10 10/11p	CFD	reducing a long position	30,137	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a long position	23	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a long position	127	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,589	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a long position	7,636	2.0918 GBP
Ordinary 10 10/11p	CFD	reducing a long position	250,000	2.1000 GBP
Ordinary 10 10/11p	CFD	reducing a long position	750	2.1183 GBP
Ordinary 10 10/11p	CFD	reducing a long position	42,200	2.1274 GBP
Ordinary 10 10/11p	CFD	reducing a short position	44,059	2.0898 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,673	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,372	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	242,639	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,155	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	94,952	2.0900 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,881	2.0904 GBP
Ordinary 10 10/11p	CFD	reducing a short position	27,522	2.0916 GBP
Ordinary 10 10/11p	CFD	reducing a short position	827	2.0949 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,827	2.0980 GBP
Ordinary 10 10/11p	CFD	reducing a short position	17,600	2.0991 GBP
Ordinary 10 10/11p	CFD	reducing a short position	199,048	2.0992 GBP
Ordinary 10 10/11p	CFD	reducing a short position	190	2.1023 GBP
Ordinary 10 10/11p	CFD	reducing a short position	149	2.1038 GBP
Ordinary 10 10/11p	CFD	reducing a short position	539	2.1041 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,805	2.1041 GBP
Ordinary 10 10/11p	CFD	reducing a short position	76,960	2.1041 GBP
Ordinary 10 10/11p	CFD	reducing a short position	732	2.1041 GBP
Ordinary 10 10/11p	CFD	reducing a short position	946	2.1055 GBP
Ordinary 10 10/11p	CFD	reducing a short position	51,279	2.1059 GBP
Ordinary 10 10/11p	CFD	reducing a short position	45,936	2.1075 GBP
Ordinary 10 10/11p	CFD	reducing a short position	825	2.1078 GBP
Ordinary 10 10/11p	CFD	reducing a short position	47,180	2.1079 GBP
Ordinary 10 10/11p	CFD	reducing a short position	38,515	2.1084 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,807	2.1092 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,440	2.1099 GBP
Ordinary 10 10/11p	CFD	reducing a short position	6,406	2.1099 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,379	2.1099 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,318	2.1099 GBP
Ordinary 10 10/11p	CFD	reducing a short position	34,861	2.1099 GBP
Ordinary 10 10/11p	CFD	reducing a short position	144,550	2.1099 GBP
Ordinary 10 10/11p	CFD	reducing a short position	22,996	2.1109 GBP
Ordinary 10 10/11p	CFD	reducing a short position	36,780	2.1118 GBP
Ordinary 10 10/11p	CFD	reducing a short position	34,398	2.1132 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9,972	2.1141 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.1230 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:	25 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