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 | Ageas SA NV |
| (c) Name of the party to the offer with which exempt principal trader is connected: | Direct Line Insurance Group plc |
| (d) Date dealing undertaken: | 18 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- 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 |
| Ordinary | PURCHASES | 95,445 | 40.1400 EUR | 39.6350 EUR |
| Ordinary | SALES | 171,819 | 40.1420 EUR | 39.6600 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 | CFD | increasing a long position | 139 | 39.6848 EUR |
| Ordinary | CFD | increasing a long position | 1,866 | 39.8163 EUR |
| Ordinary | CFD | increasing a long position | 1,228 | 39.8397 EUR |
| Ordinary | CFD | increasing a long position | 2,421 | 39.8563 EUR |
| Ordinary | CFD | increasing a long position | 1 | 39.8600 EUR |
| Ordinary | CFD | increasing a long position | 1,055 | 39.8626 EUR |
| Ordinary | CFD | increasing a long position | 6,295 | 39.8691 EUR |
| Ordinary | CFD | increasing a long position | 4,750 | 39.8702 EUR |
| Ordinary | CFD | increasing a long position | 351 | 39.8733 EUR |
| Ordinary | CFD | increasing a long position | 7,336 | 39.8853 EUR |
| Ordinary | CFD | increasing a long position | 4,136 | 39.8869 EUR |
| Ordinary | CFD | increasing a long position | 3,664 | 39.9029 EUR |
| Ordinary | CFD | increasing a long position | 296 | 39.9117 EUR |
| Ordinary | CFD | increasing a long position | 5,537 | 39.9152 EUR |
| Ordinary | CFD | increasing a long position | 1,025 | 39.9191 EUR |
| Ordinary | CFD | increasing a long position | 922 | 39.9305 EUR |
| Ordinary | CFD | increasing a long position | 437 | 39.9344 EUR |
| Ordinary | CFD | increasing a long position | 3,019 | 39.9649 EUR |
| Ordinary | CFD | increasing a long position | 221 | 39.9945 EUR |
| Ordinary | CFD | increasing a long position | 66 | 39.9976 EUR |
| Ordinary | CFD | increasing a long position | 1,779 | 40.0143 EUR |
| Ordinary | CFD | increasing a long position | 941 | 40.0144 EUR |
| Ordinary | CFD | increasing a long position | 1,558 | 40.0167 EUR |
| Ordinary | CFD | increasing a long position | 2,144 | 40.0428 EUR |
| Ordinary | CFD | increasing a long position | 2,143 | 40.0949 EUR |
| Ordinary | CFD | increasing a long position | 4,351 | 40.0967 EUR |
| Ordinary | CFD | increasing a long position | 3,343 | 40.1040 EUR |
| Ordinary | CFD | increasing a long position | 13,221 | 40.1345 EUR |
| Ordinary | CFD | increasing a long position | 44 | 40.1400 EUR |
| Ordinary | CFD | increasing a long position | 349 | 40.1400 EUR |
| Ordinary | CFD | increasing a short position | 117 | 39.8428 EUR |
| Ordinary | CFD | increasing a short position | 118 | 39.8450 EUR |
| Ordinary | CFD | increasing a short position | 1,306 | 39.8453 EUR |
| Ordinary | CFD | increasing a short position | 1,832 | 39.8724 EUR |
| Ordinary | CFD | increasing a short position | 782 | 39.8838 EUR |
| Ordinary | CFD | increasing a short position | 9,119 | 39.8986 EUR |
| Ordinary | CFD | increasing a short position | 162 | 39.9037 EUR |
| Ordinary | CFD | increasing a short position | 5,110 | 39.9750 EUR |
| Ordinary | CFD | increasing a short position | 289 | 39.9869 EUR |
| Ordinary | CFD | increasing a short position | 361 | 40.0125 EUR |
| Ordinary | CFD | increasing a short position | 268 | 40.1400 EUR |
| Ordinary | CFD | increasing a short position | 4,298 | 40.1400 EUR |
| Ordinary | CFD | increasing a short position | 6,111 | 40.1400 EUR |
| Ordinary | CFD | increasing a short position | 26 | 40.1400 EUR |
| Ordinary | CFD | increasing a short position | 4 | 40.1400 EUR |
| Ordinary | CFD | increasing a short position | 137 | 40.1408 EUR |
| Ordinary | CFD | increasing a short position | 174 | 40.1422 EUR |
| Ordinary | CFD | reducing a long position | 446 | 39.6350 EUR |
| Ordinary | CFD | increasing a short position | 100 | 39.6600 EUR |
| Ordinary | CFD | reducing a long position | 100 | 39.6600 EUR |
| Ordinary | CFD | reducing a long position | 139 | 39.8061 EUR |
| Ordinary | CFD | reducing a long position | 144 | 39.8077 EUR |
| Ordinary | CFD | reducing a long position | 220 | 39.8262 EUR |
| Ordinary | CFD | reducing a long position | 39 | 39.8300 EUR |
| Ordinary | CFD | reducing a long position | 1 | 39.8400 EUR |
| Ordinary | CFD | reducing a long position | 1,081 | 39.8450 EUR |
| Ordinary | CFD | reducing a long position | 361 | 39.8457 EUR |
| Ordinary | CFD | reducing a long position | 2,195 | 39.8493 EUR |
| Ordinary | CFD | reducing a long position | 244 | 39.8553 EUR |
| Ordinary | CFD | reducing a long position | 221 | 39.8990 EUR |
| Ordinary | CFD | reducing a long position | 132 | 39.9421 EUR |
| Ordinary | CFD | reducing a long position | 112 | 39.9829 EUR |
| Ordinary | CFD | reducing a long position | 276 | 39.9942 EUR |
| Ordinary | CFD | reducing a long position | 447 | 40.0742 EUR |
| Ordinary | CFD | reducing a long position | 201 | 40.0977 EUR |
| Ordinary | CFD | reducing a long position | 3,741 | 40.1400 EUR |
| Ordinary | CFD | reducing a long position | 3 | 40.1400 EUR |
| Ordinary | CFD | reducing a long position | 87 | 40.1400 EUR |
| Ordinary | CFD | reducing a long position | 93 | 40.1400 EUR |
| Ordinary | CFD | reducing a long position | 12 | 40.1400 EUR |
| Ordinary | CFD | reducing a long position | 500 | 40.1400 EUR |
| Ordinary | CFD | reducing a long position | 3,338 | 40.1422 EUR |
| Ordinary | CFD | reducing a short position | 174 | 39.8397 EUR |
| Ordinary | CFD | reducing a short position | 1,255 | 39.8720 EUR |
| Ordinary | CFD | reducing a short position | 118 | 39.9100 EUR |
| Ordinary | CFD | reducing a short position | 8,415 | 39.9171 EUR |
| Ordinary | CFD | reducing a short position | 3,579 | 39.9672 EUR |
| Ordinary | CFD | reducing a short position | 268 | 39.9945 EUR |
| Ordinary | CFD | reducing a short position | 7,972 | 39.9960 EUR |
| Ordinary | CFD | reducing a short position | 118 | 40.0046 EUR |
| Ordinary | CFD | reducing a short position | 486 | 40.0109 EUR |
| Ordinary | CFD | reducing a short position | 490 | 40.0167 EUR |
| Ordinary | CFD | reducing a short position | 28,986 | 40.0513 EUR |
| Ordinary | CFD | reducing a short position | 7,196 | 40.0647 EUR |
| Ordinary | CFD | reducing a short position | 486 | 40.0949 EUR |
| Ordinary | CFD | reducing a short position | 1,444 | 40.0967 EUR |
| Ordinary | CFD | reducing a short position | 1,900 | 40.1210 EUR |
| Ordinary | CFD | reducing a short position | 157 | 40.1400 EUR |
| Ordinary | CFD | reducing a short position | 1 | 40.1400 EUR |
| Ordinary | CFD | reducing a short position | 16 | 40.1400 EUR |
(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: | 28 March 2024 |
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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