Form 8.5 (EPT/RI)-Replacement of Direct Line

Morgan Stanley & Co. Int'l plc

12 March 2024

 

AMENDMENT(2(a), 2(b))

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:	08 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	2,250,799	2.2660 GBP	2.1662 GBP
Ordinary 10 10/11p	SALES	818,019	2.2670 GBP	2.2000 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	1	2.2060 GBP
Ordinary 10 10/11p	CFD	increasing a long position	117,993	2.2397 GBP
Ordinary 10 10/11p	CFD	increasing a long position	13,547	2.2397 GBP
Ordinary 10 10/11p	CFD	increasing a long position	12,494	2.2420 GBP
Ordinary 10 10/11p	CFD	increasing a long position	39,652	2.2451 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,291	2.2554 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,238	2.1662 GBP
Ordinary 10 10/11p	CFD	increasing a short position	17,436	2.1662 GBP
Ordinary 10 10/11p	CFD	increasing a short position	794	2.1662 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,185	2.1662 GBP
Ordinary 10 10/11p	CFD	increasing a short position	71,928	2.1662 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,173	2.1662 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,930	2.2073 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,503	2.2119 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,221	2.2155 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,358	2.2173 GBP
Ordinary 10 10/11p	CFD	increasing a short position	770,602	2.2365 GBP
Ordinary 10 10/11p	CFD	increasing a short position	30,875	2.2400 GBP
Ordinary 10 10/11p	CFD	increasing a short position	173,427	2.2400 GBP
Ordinary 10 10/11p	CFD	increasing a short position	247,816	2.2402 GBP
Ordinary 10 10/11p	CFD	increasing a short position	32,700	2.2405 GBP
Ordinary 10 10/11p	CFD	increasing a short position	106,448	2.2405 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,031	2.2425 GBP
Ordinary 10 10/11p	CFD	increasing a short position	378	2.2437 GBP
Ordinary 10 10/11p	CFD	increasing a short position	6,662	2.2451 GBP
Ordinary 10 10/11p	CFD	increasing a short position	200,000	2.2453 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5	2.2480 GBP
Ordinary 10 10/11p	CFD	increasing a short position	281,850	2.2480 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,500	2.2530 GBP
Ordinary 10 10/11p	CFD	increasing a short position	28,321	2.2610 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,243	2.2616 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1	2.2030 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,589	2.2213 GBP
Ordinary 10 10/11p	CFD	reducing a long position	29,633	2.2358 GBP
Ordinary 10 10/11p	CFD	reducing a long position	12,494	2.2385 GBP
Ordinary 10 10/11p	CFD	reducing a long position	664	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a long position	503	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a long position	11,022	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,291	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a long position	9,512	2.2414 GBP
Ordinary 10 10/11p	CFD	reducing a long position	11,896	2.2435 GBP
Ordinary 10 10/11p	CFD	reducing a long position	92	2.2442 GBP
Ordinary 10 10/11p	CFD	reducing a long position	26,709	2.2504 GBP
Ordinary 10 10/11p	CFD	reducing a long position	11,018	2.2572 GBP
Ordinary 10 10/11p	CFD	reducing a short position	356	2.2000 GBP
Ordinary 10 10/11p	CFD	reducing a short position	26,680	2.2050 GBP
Ordinary 10 10/11p	CFD	reducing a short position	583	2.2135 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9	2.2366 GBP
Ordinary 10 10/11p	CFD	reducing a short position	17,651	2.2383 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,066	2.2383 GBP
Ordinary 10 10/11p	CFD	reducing a short position	112	2.2383 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,551	2.2396 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,125	2.2399 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,914	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a short position	121,814	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,248	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1	2.2400 GBP
Ordinary 10 10/11p	CFD	reducing a short position	18,365	2.2403 GBP
Ordinary 10 10/11p	CFD	reducing a short position	13,716	2.2403 GBP
Ordinary 10 10/11p	CFD	reducing a short position	877	2.2405 GBP
Ordinary 10 10/11p	CFD	reducing a short position	65	2.2456 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,373	2.2543 GBP
Ordinary 10 10/11p	CFD	reducing a short position	21	2.2550 GBP
Ordinary 10 10/11p	CFD	reducing a short position	5,323	2.2552 GBP
Ordinary 10 10/11p	CFD	reducing a short position	26,660	2.2556 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:	12 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