RNS Number : 4788U
Morgan Stanley & Co. Int'l plc
23 January 2025
 

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

Aviva 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:

22 January 2025

(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 - Direct Line Insurance Group plc

 

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

32 17/19p ordinary

PURCHASES

3,097,129

5.1360 GBP

4.9698 GBP

32 17/19p ordinary

SALES

5,011,372

5.1394 GBP

4.9770 GBP

32 17/19p ordinary

SALES

124,698

6.0414 EUR

6.0414 EUR

32 17/19p ordinary

PURCHASES

67,336

6.0463 EUR

6.0463 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

32 17/19p ordinary

CFD

increasing a long position

282

4.9700 GBP

32 17/19p ordinary

CFD

increasing a long position

862

4.9700 GBP

32 17/19p ordinary

CFD

increasing a long position

10,448

5.0128 GBP

32 17/19p ordinary

CFD

increasing a long position

8,120

5.0190 GBP

32 17/19p ordinary

CFD

increasing a long position

11,632

5.0190 GBP

32 17/19p ordinary

CFD

increasing a long position

2,266

5.0190 GBP

32 17/19p ordinary

CFD

increasing a long position

18,881

5.0190 GBP

32 17/19p ordinary

CFD

increasing a long position

8,081

5.0190 GBP

32 17/19p ordinary

CFD

increasing a long position

15,597

5.0190 GBP

32 17/19p ordinary

CFD

increasing a long position

1,811

5.0190 GBP

32 17/19p ordinary

CFD

increasing a long position

3,447

5.0410 GBP

32 17/19p ordinary

CFD

increasing a long position

60,920

5.0999 GBP

32 17/19p ordinary

CFD

increasing a long position

16,488

5.0999 GBP

32 17/19p ordinary

CFD

increasing a long position

43,213

5.1041 GBP

32 17/19p ordinary

CFD

increasing a long position

14,126

5.1041 GBP

32 17/19p ordinary

CFD

increasing a long position

69,767

5.1044 GBP

32 17/19p ordinary

CFD

increasing a long position

1,807

5.1047 GBP

32 17/19p ordinary

CFD

increasing a long position

2,322

5.1060 GBP

32 17/19p ordinary

CFD

increasing a long position

16,429

5.1089 GBP

32 17/19p ordinary

CFD

increasing a long position

124,698

5.1091 GBP

32 17/19p ordinary

CFD

increasing a long position

80,726

5.1101 GBP

32 17/19p ordinary

CFD

increasing a long position

4,221

5.1104 GBP

32 17/19p ordinary

CFD

increasing a long position

40,650

5.1111 GBP

32 17/19p ordinary

CFD

increasing a long position

19,312

5.1117 GBP

32 17/19p ordinary

CFD

increasing a long position

62,814

5.1118 GBP

32 17/19p ordinary

CFD

increasing a long position

609,328

5.1119 GBP

32 17/19p ordinary

CFD

increasing a long position

196

5.1120 GBP

32 17/19p ordinary

CFD

increasing a long position

12,235

5.1149 GBP

32 17/19p ordinary

CFD

increasing a long position

2,597

5.1173 GBP

32 17/19p ordinary

CFD

increasing a long position

11,634

5.1173 GBP

32 17/19p ordinary

CFD

increasing a long position

11,579

5.1173 GBP

32 17/19p ordinary

CFD

increasing a long position

27,053

5.1173 GBP

32 17/19p ordinary

CFD

increasing a long position

3,247

5.1173 GBP

32 17/19p ordinary

CFD

increasing a long position

16,667

5.1173 GBP

32 17/19p ordinary

CFD

increasing a long position

22,349

5.1173 GBP

32 17/19p ordinary

CFD

increasing a long position

232,741

5.1206 GBP

32 17/19p ordinary

CFD

increasing a long position

2,716

5.1269 GBP

32 17/19p ordinary

CFD

increasing a long position

9,683

5.1269 GBP

32 17/19p ordinary

CFD

increasing a long position

9,729

5.1269 GBP

32 17/19p ordinary

CFD

increasing a long position

22,623

5.1269 GBP

32 17/19p ordinary

CFD

increasing a long position

18,690

5.1269 GBP

32 17/19p ordinary

CFD

increasing a long position

13,938

5.1269 GBP

32 17/19p ordinary

CFD

increasing a long position

2,173

5.1269 GBP

32 17/19p ordinary

CFD

increasing a long position

433

5.1280 GBP

32 17/19p ordinary

CFD

increasing a short position

4,385

4.9765 GBP

32 17/19p ordinary

CFD

increasing a short position

5,250

4.9830 GBP

32 17/19p ordinary

CFD

increasing a short position

30,000

4.9907 GBP

32 17/19p ordinary

CFD

increasing a short position

4,491

5.0193 GBP

32 17/19p ordinary

CFD

increasing a short position

1,337

5.1031 GBP

32 17/19p ordinary

CFD

increasing a short position

719

5.1041 GBP

32 17/19p ordinary

CFD

increasing a short position

379

5.1048 GBP

32 17/19p ordinary

CFD

increasing a short position

9,861

5.1056 GBP

32 17/19p ordinary

CFD

increasing a short position

11,405

5.1078 GBP

32 17/19p ordinary

CFD

increasing a short position

1,360

5.1078 GBP

32 17/19p ordinary

CFD

increasing a short position

8,730

5.1083 GBP

32 17/19p ordinary

CFD

increasing a short position

19,985

5.1083 GBP

32 17/19p ordinary

CFD

increasing a short position

122,406

5.1084 GBP

32 17/19p ordinary

CFD

increasing a short position

1,365

5.1094 GBP

32 17/19p ordinary

CFD

increasing a short position

162,499

5.1104 GBP

32 17/19p ordinary

CFD

increasing a short position

5,132

5.1114 GBP

32 17/19p ordinary

CFD

increasing a short position

14,454

5.1120 GBP

32 17/19p ordinary

CFD

increasing a short position

77,301

5.1120 GBP

32 17/19p ordinary

CFD

increasing a short position

405

5.1128 GBP

32 17/19p ordinary

CFD

increasing a short position

23,784

5.1129 GBP

32 17/19p ordinary

CFD

increasing a short position

45,207

5.1142 GBP

32 17/19p ordinary

CFD

increasing a short position

6,483

5.1181 GBP

32 17/19p ordinary

CFD

increasing a short position

8,300

5.1191 GBP

32 17/19p ordinary

CFD

increasing a short position

3,100

5.1191 GBP

32 17/19p ordinary

CFD

increasing a short position

285

5.1204 GBP

32 17/19p ordinary

CFD

increasing a short position

228

5.1204 GBP

32 17/19p ordinary

CFD

reducing a long position

3,447

5.0410 GBP

32 17/19p ordinary

CFD

reducing a long position

10,448

5.0885 GBP

32 17/19p ordinary

CFD

reducing a long position

57

5.1011 GBP

32 17/19p ordinary

CFD

reducing a long position

1,807

5.1048 GBP

32 17/19p ordinary

CFD

reducing a long position

17,698

5.1085 GBP

32 17/19p ordinary

CFD

reducing a long position

725

5.1094 GBP

32 17/19p ordinary

CFD

reducing a long position

46

5.1106 GBP

32 17/19p ordinary

CFD

reducing a long position

12,741

5.1106 GBP

32 17/19p ordinary

CFD

reducing a long position

4,165

5.1106 GBP

32 17/19p ordinary

CFD

reducing a long position

433

5.1120 GBP

32 17/19p ordinary

CFD

reducing a long position

14,557

5.1120 GBP

32 17/19p ordinary

CFD

reducing a long position

521

5.1120 GBP

32 17/19p ordinary

CFD

reducing a long position

1,171

5.1120 GBP

32 17/19p ordinary

CFD

reducing a long position

1,858

5.1138 GBP

32 17/19p ordinary

CFD

reducing a long position

196

5.1160 GBP

32 17/19p ordinary

CFD

reducing a short position

707

5.0084 GBP

32 17/19p ordinary

CFD

reducing a short position

30,000

5.0110 GBP

32 17/19p ordinary

CFD

reducing a short position

5,250

5.0300 GBP

32 17/19p ordinary

CFD

reducing a short position

3,784

5.0666 GBP

32 17/19p ordinary

CFD

reducing a short position

170,969

5.0835 GBP

32 17/19p ordinary

CFD

reducing a short position

186,697

5.0870 GBP

32 17/19p ordinary

CFD

reducing a short position

12,795

5.0987 GBP

32 17/19p ordinary

CFD

reducing a short position

181,808

5.1044 GBP

32 17/19p ordinary

CFD

reducing a short position

5,299

5.1047 GBP

32 17/19p ordinary

CFD

reducing a short position

6,107

5.1047 GBP

32 17/19p ordinary

CFD

reducing a short position

65,415

5.1053 GBP

32 17/19p ordinary

CFD

reducing a short position

236

5.1060 GBP

32 17/19p ordinary

CFD

reducing a short position

379

5.1060 GBP

32 17/19p ordinary

CFD

reducing a short position

306,074

5.1066 GBP

32 17/19p ordinary

CFD

reducing a short position

21,243

5.1084 GBP

32 17/19p ordinary

CFD

reducing a short position

234,635

5.1093 GBP

32 17/19p ordinary

CFD

reducing a short position

3,407

5.1094 GBP

32 17/19p ordinary

CFD

reducing a short position

3,200

5.1095 GBP

32 17/19p ordinary

CFD

reducing a short position

1,100

5.1095 GBP

32 17/19p ordinary

CFD

reducing a short position

27,185

5.1112 GBP

32 17/19p ordinary

CFD

reducing a short position

719

5.1118 GBP

32 17/19p ordinary

CFD

reducing a short position

17,795

5.1119 GBP

32 17/19p ordinary

CFD

reducing a short position

225

5.1120 GBP

32 17/19p ordinary

CFD

reducing a short position

5,429

5.1120 GBP

32 17/19p ordinary

CFD

reducing a short position

4,385

5.1120 GBP

32 17/19p ordinary

CFD

reducing a short position

83,784

5.1120 GBP

32 17/19p ordinary

CFD

reducing a short position

42,368

5.1126 GBP

32 17/19p ordinary

CFD

reducing a short position

52

5.1133 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:

23 January 2025
Contact name:

Craig Horsley
Telephone number:

+44 141 245-7736

 

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 +44 (0)20 7638 0129.

 

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

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