RNS Number : 4361Q
BNP Paribas London
17 December 2024
 

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:

 

BNP Paribas SA

 (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.


 (c)  Name of offeror/offeree in relation to whose relevant securities this form relates:

       Use a separate form for each offeror/offeree

Aviva plc

 (d)  If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:


 (e)  Date position held/dealing undertaken:

       For an opening position disclosure, state the latest practicable date prior to the disclosure

16/12/2024

 (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: Direct Line Insurance Group 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:

 

GB00BPQY8M80 (32 17/19p ordinary)

 

 

 

Interests

 

Short Positions

 

 

Number

%

Number

%

  (1) Relevant securities owned and/or controlled:

          19,284,699

    .72

         -22,398,800

   -.84

  (2) Cash-settled derivatives:

 

           5,213,606

    .19

         -12,856,095

   -.48

  (3) Stock-settled derivatives (including options) and agreements to purchase/sell:

             590,000

    .02

             -44,000

   -.00

       TOTAL:

          25,088,305

    .94

         -35,298,895

  -1.32

 

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:


Details, including nature of the rights concerned and relevant percentages:


 

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

GB00BPQY8M80

Purchase

                  38

               4.7300 GBP

GB00BPQY8M80

Purchase

                  38

               4.7330 GBP

GB00BPQY8M80

Purchase

                  39

               4.7340 GBP

GB00BPQY8M80

Purchase

                  51

               4.7350 GBP

GB00BPQY8M80

Purchase

                  56

               4.7590 GBP

GB00BPQY8M80

Purchase

                  60

               4.7350 GBP

GB00BPQY8M80

Purchase

                 105

               4.7590 GBP

GB00BPQY8M80

Purchase

                 290

               4.7275 GBP

GB00BPQY8M80

Purchase

                 294

               4.7286 GBP

GB00BPQY8M80

Purchase

                 295

               4.7296 GBP

GB00BPQY8M80

Purchase

                 303

               4.7301 GBP

GB00BPQY8M80

Purchase

                 330

               4.7291 GBP

GB00BPQY8M80

Purchase

                 525

               4.7350 GBP

GB00BPQY8M80

Purchase

                 952

               4.7170 GBP

GB00BPQY8M80

Purchase

               1,115

               4.7107 GBP

GB00BPQY8M80

Purchase

               3,410

               4.7000 GBP

GB00BPQY8M80

Purchase

               4,279

               4.7007 GBP

GB00BPQY8M80

Purchase

               4,516

               4.7145 GBP

GB00BPQY8M80

Purchase

               5,635

               4.7245 GBP

GB00BPQY8M80

Purchase

               7,523

               4.7382 GBP

GB00BPQY8M80

Purchase

               9,693

               4.7230 GBP

GB00BPQY8M80

Purchase

              11,845

               4.7000 GBP

GB00BPQY8M80

Purchase

              13,139

               4.7206 GBP

GB00BPQY8M80

Purchase

              14,273

               4.7205 GBP

GB00BPQY8M80

Purchase

              22,645

               4.7314 GBP

GB00BPQY8M80

Purchase

              28,648

               4.7016 GBP

GB00BPQY8M80

Purchase

              39,730

               4.7266 GBP

GB00BPQY8M80

Purchase

              42,279

               4.7140 GBP

GB00BPQY8M80

Purchase

              55,214

               4.7369 GBP

GB00BPQY8M80

Purchase

              58,175

               4.7007 GBP

GB00BPQY8M80

Purchase

              63,125

               4.7173 GBP

GB00BPQY8M80

Purchase

              71,675

               4.7350 GBP

GB00BPQY8M80

Purchase

             731,561

               4.7000 GBP

GB00BPQY8M80

Sale

            -731,561

               4.7000 GBP

GB00BPQY8M80

Sale

            -164,043

               4.7310 GBP

GB00BPQY8M80

Sale

             -94,382

               4.7000 GBP

GB00BPQY8M80

Sale

             -60,542

               4.7226 GBP

GB00BPQY8M80

Sale

             -49,780

               4.7000 GBP

GB00BPQY8M80

Sale

             -34,533

               4.7350 GBP

GB00BPQY8M80

Sale

             -15,217

               4.7270 GBP

GB00BPQY8M80

Sale

             -14,659

               4.7346 GBP

GB00BPQY8M80

Sale

             -12,549

               4.7000 GBP

GB00BPQY8M80

Sale

             -12,401

               4.7119 GBP

GB00BPQY8M80

Sale

             -12,267

               4.7349 GBP

GB00BPQY8M80

Sale

              -8,377

               4.7122 GBP

GB00BPQY8M80

Sale

              -7,287

               4.7299 GBP

GB00BPQY8M80

Sale

              -6,944

               4.7355 GBP

GB00BPQY8M80

Sale

              -6,079

               4.7353 GBP

GB00BPQY8M80

Sale

              -4,618

               4.7107 GBP

GB00BPQY8M80

Sale

              -3,410

               4.7000 GBP

GB00BPQY8M80

Sale

              -3,201

               4.7287 GBP

GB00BPQY8M80

Sale

              -2,597

               4.7000 GBP

GB00BPQY8M80

Sale

              -2,435

               4.7000 GBP

GB00BPQY8M80

Sale

              -2,433

               4.7000 GBP

GB00BPQY8M80

Sale

              -1,513

               4.6999 GBP

GB00BPQY8M80

Sale

              -1,413

               4.7352 GBP

GB00BPQY8M80

Sale

              -1,115

               4.7107 GBP

GB00BPQY8M80

Sale

                -765

               4.7009 GBP

GB00BPQY8M80

Sale

                -699

               4.7610 GBP

GB00BPQY8M80

Sale

                -600

               4.7278 GBP

GB00BPQY8M80

Sale

                -415

               4.7275 GBP

GB00BPQY8M80

Sale

                -413

               4.7092 GBP

GB00BPQY8M80

Sale

                -330

               4.7291 GBP

GB00BPQY8M80

Sale

                -327

               4.7459 GBP

GB00BPQY8M80

Sale

                -303

               4.7301 GBP

GB00BPQY8M80

Sale

                -295

               4.7296 GBP

GB00BPQY8M80

Sale

                -294

               4.7286 GBP

GB00BPQY8M80

Sale

                -290

               4.7275 GBP

GB00BPQY8M80

Sale

                -288

               4.7000 GBP

GB00BPQY8M80

Sale

                -123

               4.7105 GBP

GB00BPQY8M80

Sale

                -103

               4.7092 GBP

GB00BPQY8M80

Sale

                 -76

               4.7089 GBP

GB00BPQY8M80

Sale

                 -76

               4.7126 GBP

GB00BPQY8M80

Sale

                 -71

               4.7053 GBP

GB00BPQY8M80

Sale

                  -8

               4.7070 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

references

securities

Price per

unit

GB00BPQY8M80

Contract for Difference

Opening Long Position

               3,010

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Closing Short Position

                 191

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Increasing Short Position

             -13,486

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Increasing Short Position

             -83,453

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Increasing Short Position

             -11,491

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Increasing Short Position

             -56,060

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Reducing Long Position

             -62,454

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Reducing Short Position

               1,968

               4.7000 GBP

GB00BPQY8M80

Contract for Difference

Reducing Short Position

               2,735

               4.7000 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)

Indemnity and other dealing arrangements


 

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?

 

Yes

 

 

Date of Disclosure:

 

     17/12/2024

Contact Name

 

     Compliance Control Room

Telephone Number:

 

     0207 595 9695

 

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 +44 (0)20 7638 0129.


 

*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


 

 

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS,

AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

 

1.

KEY INFORMATION


 

 Full name of person making disclosure:

 

BNP Paribas SA

 Name of offeror/offeree in relation to whose

 relevant securities the disclosure relates:

Aviva plc

 

2.

STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)


 

Class of

relevant

security

Product

description

e.g. call

option

Written or

purchased

Number of

securities

to which

option or

derivative

relates

Exercise

price

per unit

Type

e.g.

American,

European

etc.

Expiry

date

32 17/19p ordinary (GB00BPQY8M80)

Call Option

P

86000

4.7

american

19/12/2025

32 17/19p ordinary (GB00BPQY8M80)

Put Option

W

400000

4.7

american

20/12/2024

32 17/19p ordinary (GB00BPQY8M80)

Put Option

P

-44000

4.7

american

20/12/2024

32 17/19p ordinary (GB00BPQY8M80)

Call Option

P

104000

4.7

american

20/12/2024

 

3.

AGREEMENTS TO PURCHASE OR SELL ETC.


 

Full details should be given so that the nature of the interest or position can be fully understood:

 

 

 

 

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.


 

The currency of all prices and other monetary amounts should be stated.


 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.


 

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


 

 

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