Form 8.3 - Direct Line Insurance Group PLC

Citadel Group

10 December 2024

 

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Full name of discloser:	Citadel Group
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):      The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.	N/A
(c) 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
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:	N/A
(e) Date position held/dealing undertaken:      For an opening position disclosure, state the latest practicable date prior to the disclosure	9 December 2024
(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?      If it is a cash offer or possible cash offer, state "N/A"	Yes, Aviva PLC

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security: Common Stock	ISIN GB00BY9D0Y18 10 10/11p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	2,068	0.00	404,183	0.03
(2) Cash-settled derivatives:	11,353,996	0.86	1,332,505	0.10
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00	0	0.00
TOTAL:	11,356,064	0.86	1,736,688	0.13

Class of relevant security:	ISIN XS1728036366 Restricted Tier 1 Note
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00	0	0.00
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00	0	0.00
TOTAL:	0	0.00	0	0.00

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)        Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:	N/A
Details, including nature of the rights concerned and relevant percentages:	N/A

3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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	Purchase/sale	Number of securities	Price per unit
Common	Buy Transaction	84,705	2.4840 GBP
Common	Buy Transaction	3,050	2.4860 GBP
Common	Buy Transaction	7,191	2.4880 GBP
Common	Buy Transaction	19,585	2.4900 GBP
Common	Buy Transaction	16,072	2.4920 GBP
Common	Buy Transaction	744	2.4950 GBP
Common	Buy Transaction	12,272	2.4960 GBP
Common	Buy Transaction	8,832	2.4980 GBP
Common	Buy Transaction	50,218	2.5000 GBP
Common	Buy Transaction	43,290	2.5020 GBP
Common	Buy Transaction	1,232	2.5030 GBP
Common	Buy Transaction	29,986	2.5040 GBP
Common	Buy Transaction	36,657	2.5060 GBP
Common	Buy Transaction	13,931	2.5080 GBP
Common	Buy Transaction	781	2.5100 GBP
Common	Buy Transaction	2,183	2.5120 GBP
Common	Buy Transaction	241	2.5200 GBP
Common	Sell Transaction	277	2.4840 GBP
Common	Sell Transaction	1,414	2.4880 GBP
Common	Sell Transaction	3,362	2.4900 GBP
Common	Sell Transaction	22,105	2.4920 GBP
Common	Sell Transaction	55,638	2.4940 GBP
Common	Sell Transaction	151,207	2.4960 GBP
Common	Sell Transaction	117,133	2.4980 GBP
Common	Sell Transaction	258	2.4990 GBP
Common	Sell Transaction	133,048	2.5000 GBP
Common	Sell Transaction	57,205	2.5020 GBP
Common	Sell Transaction	19,348	2.5040 GBP
Common	Sell Transaction	676	2.5060 GBP
Common	Sell Transaction	10,332	2.5080 GBP
Common	Sell Transaction	238	2.5090 GBP
Common	Sell Transaction	6,091	2.5140 GBP
Common	Sell Transaction	3,629	2.5180 GBP
Common	Sell Transaction	5,934	2.5200 GBP
Common	Sell Transaction	1,995	2.5220 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
Common	CFD	Reducing long position	78,849	2.4945 GBP
Common	CFD	Reducing long position	18,806	2.4945 GBP
Common	CFD	Reducing long position	46,516	2.4945 GBP
Common	CFD	Reducing long position	31,339	2.4945 GBP
Common	CFD	Reducing long position	54,364	2.4956 GBP
Common	CFD	Reducing long position	249,725	2.4963 GBP
Common	CFD	Increasing long position	1,013,142	2.4980 GBP
Common	CFD	Reducing long position	1,013,142	2.4980 GBP
Common	CFD	Increasing long position	6,419	2.4982 GBP
Common	CFD	Reducing long position	2,468	2.4990 GBP
Common	CFD	Reducing long position	3,661	2.4990 GBP
Common	CFD	Reducing long position	6,206	2.4990 GBP
Common	CFD	Reducing long position	1,478	2.4990 GBP
Common	CFD	Reducing long position	1	2.5000 GBP
Common	CFD	Reducing long position	800,000	2.5060 GBP
Common	CFD	Reducing long position	800,000	2.5096 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

(ii)        Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(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)

4.         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 person 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 person 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

(c)        Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	10 December 2024
Contact name:	Paula Santos
Telephone number*:	020 7645 9700

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 disclosure requirements on [phone].

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END