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

Morgan Stanley & Co. Int'l plc

14 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:	12 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	1,339,322	2.2590 GBP	2.2260 GBP
Ordinary 10 10/11p	SALES	461,689	2.2600 GBP	2.2250 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	1,710	2.2334 GBP
Ordinary 10 10/11p	CFD	increasing a long position	32	2.2370 GBP
Ordinary 10 10/11p	CFD	increasing a long position	42	2.2515 GBP
Ordinary 10 10/11p	CFD	increasing a long position	333	2.2549 GBP
Ordinary 10 10/11p	CFD	increasing a short position	65,884	2.2362 GBP
Ordinary 10 10/11p	CFD	increasing a short position	100,433	2.2362 GBP
Ordinary 10 10/11p	CFD	increasing a short position	12,972	2.2362 GBP
Ordinary 10 10/11p	CFD	increasing a short position	20,711	2.2362 GBP
Ordinary 10 10/11p	CFD	increasing a short position	7,764	2.2405 GBP
Ordinary 10 10/11p	CFD	increasing a short position	21,274	2.2406 GBP
Ordinary 10 10/11p	CFD	increasing a short position	300	2.2452 GBP
Ordinary 10 10/11p	CFD	increasing a short position	250,089	2.2459 GBP
Ordinary 10 10/11p	CFD	increasing a short position	66	2.2464 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,813	2.2469 GBP
Ordinary 10 10/11p	CFD	increasing a short position	112,467	2.2470 GBP
Ordinary 10 10/11p	CFD	increasing a short position	8,005	2.2473 GBP
Ordinary 10 10/11p	CFD	increasing a short position	3,258	2.2491 GBP
Ordinary 10 10/11p	CFD	increasing a short position	193,691	2.2508 GBP
Ordinary 10 10/11p	CFD	increasing a short position	249	2.2513 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,480	2.2538 GBP
Ordinary 10 10/11p	CFD	increasing a short position	127	2.2559 GBP
Ordinary 10 10/11p	CFD	increasing a short position	189	2.2566 GBP
Ordinary 10 10/11p	CFD	increasing a short position	4,698	2.2580 GBP
Ordinary 10 10/11p	CFD	increasing a short position	16,115	2.2580 GBP
Ordinary 10 10/11p	CFD	increasing a short position	56,421	2.2580 GBP
Ordinary 10 10/11p	CFD	increasing a short position	103,133	2.2582 GBP
Ordinary 10 10/11p	CFD	reducing a long position	15,648	2.2448 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,710	2.2467 GBP
Ordinary 10 10/11p	CFD	reducing a long position	88	2.2473 GBP
Ordinary 10 10/11p	CFD	reducing a long position	35,645	2.2476 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,600	2.2499 GBP
Ordinary 10 10/11p	CFD	reducing a long position	22,650	2.2499 GBP
Ordinary 10 10/11p	CFD	reducing a long position	17,127	2.2537 GBP
Ordinary 10 10/11p	CFD	reducing a long position	11,410	2.2574 GBP
Ordinary 10 10/11p	CFD	reducing a long position	316	2.2580 GBP
Ordinary 10 10/11p	CFD	reducing a long position	667	2.2580 GBP
Ordinary 10 10/11p	CFD	reducing a long position	105	2.2580 GBP
Ordinary 10 10/11p	CFD	reducing a short position	15,252	2.2329 GBP
Ordinary 10 10/11p	CFD	reducing a short position	567	2.2337 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,983	2.2370 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,916	2.2378 GBP
Ordinary 10 10/11p	CFD	reducing a short position	987	2.2393 GBP
Ordinary 10 10/11p	CFD	reducing a short position	6,789	2.2394 GBP
Ordinary 10 10/11p	CFD	reducing a short position	14,666	2.2409 GBP
Ordinary 10 10/11p	CFD	reducing a short position	8,928	2.2419 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,500	2.2424 GBP
Ordinary 10 10/11p	CFD	reducing a short position	11	2.2427 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,630	2.2436 GBP
Ordinary 10 10/11p	CFD	reducing a short position	56	2.2459 GBP
Ordinary 10 10/11p	CFD	reducing a short position	14,721	2.2477 GBP
Ordinary 10 10/11p	CFD	reducing a short position	626	2.2503 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,017	2.2524 GBP
Ordinary 10 10/11p	CFD	reducing a short position	117,505	2.2534 GBP
Ordinary 10 10/11p	CFD	reducing a short position	619	2.2549 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,503	2.2563 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,622	2.2580 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,924	2.2580 GBP
Ordinary 10 10/11p	CFD	reducing a short position	626	2.2580 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,947	2.2580 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,454	2.2580 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:	14 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