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

Morgan Stanley & Co. Int'l plc

22 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:	20 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	1,373,178	2.1320 GBP	2.0900 GBP
Ordinary 10 10/11p	PURCHASES	1,678,513	2.1330 GBP	2.0889 GBP
Ordinary 10 10/11p	PURCHASES	55,606	2.4773 EUR	2.4773 EUR

(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	901	2.1009 GBP
Ordinary 10 10/11p	CFD	increasing a long position	1,785	2.1070 GBP
Ordinary 10 10/11p	CFD	increasing a long position	2,141	2.1144 GBP
Ordinary 10 10/11p	CFD	increasing a long position	44,345	2.1199 GBP
Ordinary 10 10/11p	CFD	increasing a long position	6,546,028	2.1200 GBP
Ordinary 10 10/11p	CFD	increasing a short position	107	2.0944 GBP
Ordinary 10 10/11p	CFD	increasing a short position	2,865	2.1024 GBP
Ordinary 10 10/11p	CFD	increasing a short position	228	2.1040 GBP
Ordinary 10 10/11p	CFD	increasing a short position	84,745	2.1074 GBP
Ordinary 10 10/11p	CFD	increasing a short position	10,161	2.1140 GBP
Ordinary 10 10/11p	CFD	increasing a short position	10,162	2.1146 GBP
Ordinary 10 10/11p	CFD	increasing a short position	62,200	2.1148 GBP
Ordinary 10 10/11p	CFD	increasing a short position	12,135	2.1150 GBP
Ordinary 10 10/11p	CFD	increasing a short position	176,696	2.1150 GBP
Ordinary 10 10/11p	CFD	increasing a short position	51,289	2.1150 GBP
Ordinary 10 10/11p	CFD	increasing a short position	68,550	2.1152 GBP
Ordinary 10 10/11p	CFD	increasing a short position	9,832	2.1158 GBP
Ordinary 10 10/11p	CFD	increasing a short position	85,634	2.1158 GBP
Ordinary 10 10/11p	CFD	increasing a short position	11,277	2.1170 GBP
Ordinary 10 10/11p	CFD	increasing a short position	26,185	2.1177 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,241	2.1177 GBP
Ordinary 10 10/11p	CFD	increasing a short position	44,456	2.1189 GBP
Ordinary 10 10/11p	CFD	increasing a short position	4	2.1206 GBP
Ordinary 10 10/11p	CFD	increasing a short position	22	2.1209 GBP
Ordinary 10 10/11p	CFD	increasing a short position	98	2.1212 GBP
Ordinary 10 10/11p	CFD	increasing a short position	1,678	2.1218 GBP
Ordinary 10 10/11p	CFD	increasing a short position	469,862	2.1243 GBP
Ordinary 10 10/11p	CFD	increasing a short position	5,366	2.1266 GBP
Ordinary 10 10/11p	CFD	increasing a short position	164,392	2.1267 GBP
Ordinary 10 10/11p	CFD	reducing a long position	1,785	2.1110 GBP
Ordinary 10 10/11p	CFD	reducing a long position	901	2.1134 GBP
Ordinary 10 10/11p	CFD	reducing a long position	44,345	2.1150 GBP
Ordinary 10 10/11p	CFD	reducing a long position	994	2.1150 GBP
Ordinary 10 10/11p	CFD	reducing a long position	23,395	2.1150 GBP
Ordinary 10 10/11p	CFD	reducing a long position	46,924	2.1151 GBP
Ordinary 10 10/11p	CFD	reducing a long position	64,324	2.1158 GBP
Ordinary 10 10/11p	CFD	reducing a long position	90,287	2.1177 GBP
Ordinary 10 10/11p	CFD	reducing a long position	19,843	2.1183 GBP
Ordinary 10 10/11p	CFD	reducing a long position	6,546,028	2.1200 GBP
Ordinary 10 10/11p	CFD	reducing a long position	5,000	2.1200 GBP
Ordinary 10 10/11p	CFD	reducing a long position	2,299	2.1270 GBP
Ordinary 10 10/11p	CFD	reducing a short position	88	2.0920 GBP
Ordinary 10 10/11p	CFD	reducing a short position	178	2.0920 GBP
Ordinary 10 10/11p	CFD	reducing a short position	347	2.0920 GBP
Ordinary 10 10/11p	CFD	reducing a short position	17	2.0920 GBP
Ordinary 10 10/11p	CFD	reducing a short position	11	2.1036 GBP
Ordinary 10 10/11p	CFD	reducing a short position	406,505	2.1046 GBP
Ordinary 10 10/11p	CFD	reducing a short position	32,270	2.1057 GBP
Ordinary 10 10/11p	CFD	reducing a short position	27,512	2.1060 GBP
Ordinary 10 10/11p	CFD	reducing a short position	52	2.1087 GBP
Ordinary 10 10/11p	CFD	reducing a short position	6,777	2.1091 GBP
Ordinary 10 10/11p	CFD	reducing a short position	67	2.1093 GBP
Ordinary 10 10/11p	CFD	reducing a short position	7,093	2.1114 GBP
Ordinary 10 10/11p	CFD	reducing a short position	124,989	2.1139 GBP
Ordinary 10 10/11p	CFD	reducing a short position	36,009	2.1150 GBP
Ordinary 10 10/11p	CFD	reducing a short position	21,911	2.1150 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,510	2.1150 GBP
Ordinary 10 10/11p	CFD	reducing a short position	181	2.1150 GBP
Ordinary 10 10/11p	CFD	reducing a short position	61,683	2.1152 GBP
Ordinary 10 10/11p	CFD	reducing a short position	9,179	2.1152 GBP
Ordinary 10 10/11p	CFD	reducing a short position	12,289	2.1152 GBP
Ordinary 10 10/11p	CFD	reducing a short position	619	2.1154 GBP
Ordinary 10 10/11p	CFD	reducing a short position	3,099	2.1156 GBP
Ordinary 10 10/11p	CFD	reducing a short position	114,019	2.1161 GBP
Ordinary 10 10/11p	CFD	reducing a short position	79,098	2.1165 GBP
Ordinary 10 10/11p	CFD	reducing a short position	57,217	2.1172 GBP
Ordinary 10 10/11p	CFD	reducing a short position	40,881	2.1176 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,291	2.1189 GBP
Ordinary 10 10/11p	CFD	reducing a short position	1,441	2.1191 GBP
Ordinary 10 10/11p	CFD	reducing a short position	144,549	2.1191 GBP
Ordinary 10 10/11p	CFD	reducing a short position	6,406	2.1191 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,027	2.1191 GBP
Ordinary 10 10/11p	CFD	reducing a short position	34,858	2.1191 GBP
Ordinary 10 10/11p	CFD	reducing a short position	4,319	2.1191 GBP
Ordinary 10 10/11p	CFD	reducing a short position	2,377	2.1191 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:	22 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