Amendment - due to the amendment of Equity and Derivative transactions, the disclosure made on 13th January 2025 for dealings on 10th January 2025 have been updated. Section 2(a) and 2(b) have been updated.
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: | (GS) GOLDMAN SACHS INTERNATIONAL |
| (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: | AVIVA PLC |
| (d) Date dealing undertaken: | 10 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 the offer? If it is a cash offer or possible cash offer, state "N/A" | YES - disclosing today for 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 | 2,490,064 | 4.7910 GBP | 4.7150 GBP |
| 32 17/19p ordinary | Sales | 1,218,689 | 4.7915 GBP | 4.7170 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 |
| 32 17/19p ordinary | CFD | Increasing a short position | 60 | 4.7173 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,904 | 4.7173 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 230 | 4.7174 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 3,300 | 4.7176 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 900 | 4.7176 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,846 | 4.7176 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 5,600 | 4.7176 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,433 | 4.7176 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,604 | 4.7177 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 15,436 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 1,643 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 51 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 3,841 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 8 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 13,391 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 48,719 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,989 | 4.7180 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 31,805 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,810 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 20,841 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 5,909 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 4,644 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 5,709 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,579 | 4.7181 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 15,436 | 4.7183 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 104 | 4.7188 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 801 | 4.7188 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,572 | 4.7192 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 57 | 4.7195 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 423 | 4.7195 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 122 | 4.7195 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 93 | 4.7195 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 116 | 4.7195 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 52 | 4.7195 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 1,742 | 4.7204 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 556 | 4.7237 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 18,000 | 4.7246 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 172,200 | 4.7246 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,572 | 4.7247 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,020 | 4.7248 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 137 | 4.7252 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 166 | 4.7254 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 17,296 | 4.7273 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 101 | 4.7279 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,387 | 4.7293 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,772 | 4.7293 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,636 | 4.7296 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 916 | 4.7300 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 123 | 4.7302 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 583,541 | 4.7319 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 92,528 | 4.7319 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,106 | 4.7319 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 15,634 | 4.7319 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 2,232 | 4.7319 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 207 | 4.7323 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 789 | 4.7323 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 24 | 4.7323 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 49 | 4.7323 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 308 | 4.7337 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 243 | 4.7337 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,236 | 4.7344 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 249 | 4.7364 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 1 | 4.7365 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 12,742 | 4.7371 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,723 | 4.7372 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,652 | 4.7386 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 357 | 4.7386 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 170,881 | 4.7387 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 27,095 | 4.7387 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 253 | 4.7388 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 176 | 4.7391 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 3,334 | 4.7391 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 2,237 | 4.7401 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 17,296 | 4.7418 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 61,600 | 4.7468 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 648 | 4.7485 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 4,573 | 4.7486 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,237 | 4.7511 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 3,849 | 4.7511 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 2,300 | 4.7545 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 176 | 4.7562 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 3,334 | 4.7562 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 4,667 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 4,483 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 12,511 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 38,768 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,669 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 20,869 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 19,016 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,157 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 3,491 | 4.7570 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 305 | 4.7611 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 2,260 | 4.7611 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 144 | 4.7611 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 6,800 | 4.7655 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 181 | 4.7656 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1 | 4.7690 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 9,391 | 4.7703 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 69,100 | 4.7719 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 41,953 | 4.7733 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 264,585 | 4.7733 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,235 | 4.7756 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 170,348 | 4.7767 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 27,011 | 4.7767 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 776 | 4.7822 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 45,255 | 4.7831 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) |
| |
| | |
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: | 17 January 2025 |
Contact name: | Papa Lette and Andrzej Szyszka |
Telephone number: | +33(1) 4212 1459 / +48(22) 317 4817 |
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.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
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