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: | 03 April 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 | 4,260,340 | 5.6080 GBP | 5.5130 GBP |
| 32 17/19p ordinary | Sales | 5,055,817 | 5.6060 GBP | 5.5120 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 | 10,245 | 5.5263 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 5,365 | 5.5265 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,884 | 5.5283 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 292 | 5.5291 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 928 | 5.5314 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 42 | 5.5321 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 104 | 5.5332 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 35 | 5.5332 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 367 | 5.5332 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 15 | 5.5332 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 61 | 5.5355 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,879 | 5.5391 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,983 | 5.5405 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,343 | 5.5419 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 5,182 | 5.5424 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 98,316 | 5.5428 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 14,389 | 5.5429 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 37,567 | 5.5435 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 4,189 | 5.5441 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 22,892 | 5.5454 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 363 | 5.5462 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 12,150 | 5.5471 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,490 | 5.5472 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,094 | 5.5472 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 1,490 | 5.5472 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 29,959 | 5.5476 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 116 | 5.5477 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 11,549 | 5.5477 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 61,600 | 5.5478 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 76,076 | 5.5479 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 783 | 5.5479 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 8,087 | 5.5479 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 284 | 5.5479 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 36,717 | 5.5479 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 68,155 | 5.5480 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 15,658 | 5.5480 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 25,171 | 5.5481 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 27,883 | 5.5481 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 28,229 | 5.5481 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 21,113 | 5.5481 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 539 | 5.5487 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 51,510 | 5.5491 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 13,941 | 5.5497 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,667 | 5.5500 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 19,143 | 5.5520 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 199 | 5.5525 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 68 | 5.5525 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 700 | 5.5525 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 29 | 5.5525 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 25,622 | 5.5536 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,274 | 5.5542 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 137,656 | 5.5544 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 860 | 5.5547 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 444 | 5.5557 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 700 | 5.5559 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 179,352 | 5.5568 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 1,334 | 5.5575 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,334 | 5.5587 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 15,658 | 5.5587 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 108 | 5.5603 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,458 | 5.5614 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 144 | 5.5621 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 6,899 | 5.5623 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 136,786 | 5.5630 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 9,259 | 5.5631 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 579 | 5.5632 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 81,917 | 5.5634 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 3,746 | 5.5635 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 129,755 | 5.5638 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,528 | 5.5642 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 131,400 | 5.5655 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 286,458 | 5.5659 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 25,317 | 5.5671 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 21 | 5.5673 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 36,717 | 5.5673 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 4,527 | 5.5687 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 600 | 5.5701 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 64,413 | 5.5709 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 19,662 | 5.5719 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,488 | 5.5721 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 968 | 5.5730 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 4,887 | 5.5747 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 11,845 | 5.5749 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 347 | 5.5772 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 34,758 | 5.5772 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 10,458 | 5.5780 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 137,019 | 5.5805 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 16,200 | 5.5808 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,537 | 5.5811 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 52,660 | 5.5813 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 40,856 | 5.5831 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 827 | 5.5847 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2 | 5.5853 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 1,576 | 5.5861 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 27,200 | 5.5873 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 25 | 5.5874 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 23 | 5.5940 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 8 | 5.5940 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 113 | 5.5940 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 79 | 5.5940 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 3 | 5.5940 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 18,904 | 5.6046 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 47,873 | 5.6046 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 47,873 | 5.6053 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: | 04 April 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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