FORM 8.3
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: | Jefferies International Limited |
| (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. |
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| (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Aviva plc
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| (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: |
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| (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure |
24th April 2025 |
| (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" |
Direct Line Insurance Group plc
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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:
| 32 17/19p ordinary | |||
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| Interests | Short positions | ||
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| Number | % | Number | % |
| (1) Relevant securities owned and/or controlled: | 865,634 | 0.032 |
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| (2) Cash-settled derivatives:
| 7,327,112 | 0.273 | 8,457,622 | 0.316 |
| (3) Stock-settled derivatives 9,046,722 (including options) and agreements to purchase/sell: |
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| TOTAL: | 8,391,515 | 0.305 | 8,457,622 | 0.316 |
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: |
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| Details, including nature of the rights concerned and relevant percentages: |
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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 (GBX) |
| 32 17/19p ordinary
| Purchase
Sale | 808 46 866 46 3 1,587 1,929 184 821 664 711 46 34,675 88,714 367 877 879 259 97 700 21,053 1,350 5,400 3,023 1,203 71,700 903 252 252 212 3,177 6 234 633 344 630 1,420 2,310 316 1,414 23 542 843 348 172 1,099 683 470 596 491 1,046 126 848 1,046 71,650 1,329 764 3,334 1,027 3,883 73,109 1,544 901 696 71,675 1,221 10,000 749 1,025 553 123 450 146 126 172 504 470 126 46
29 50,000 12,500 25,000 123,389 90,000 496 45,000 933 7,176 54,916 5,084 6,932 59,074 185 6,968 119,411 4,000 1,570 2,150 25,842 9,032 126 123,841 56,782 43,218 10,263 10,000 | 536.9000 537.0000 537.1000 537.2000 537.3000 537.5000 537.6000 537.7000 537.8000 537.9000 538.0000 538.1000 538.2326 538.2327 538.3000 538.4000 538.5000 538.6000 538.7000 538.8000 539.0000 539.1000 539.2000 539.3000 539.4000 539.4220 539.5000 539.6000 539.7000 539.8000 539.8400 539.9000 540.0000 540.2000 540.3000 540.4000 540.5000 540.6000 540.7000 540.8000 540.8800 540.9000 541.0000 541.2000 541.3000 541.4000 541.5000 541.6000 541.7000 541.8000 541.9000 541.9458 542.0000 542.1000 542.1770 542.2000 542.3000 542.4000 542.5000 542.6000 542.6199 542.7000 542.8000 542.9000 542.9284 543.0000 543.0400 543.1000 543.2000 543.2200 543.3000 543.4000 543.5000 543.6000 543.8000 544.0000 544.2000 544.4000 544.5000
536.9800 537.0000 537.6000 538.4000 538.5558 538.6000 538.6794 539.0000 539.0734 539.2200 539.4000 539.6000 540.0862 540.1100 540.3800 540.7600 541.2209 541.3800 542.0000 542.1000 542.2000 542.4000 542.5000 542.6000 542.8000 542.9000 543.0000 543.2000 |
(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 (GBX) |
| 32 17/19p ordinary | Swap Swap Swap Swap | Increasing a long position Increasing a long position Increasing a long position Increasing a long position | 496 933 119,411 70,241 | 538.6794 539.0734 541.2209 542.6199 |
· Please note, please also see other deal section at the bottom of the form.
(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 |
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(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) |
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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) Agreements, arrangements or understandings relating to options or derivatives
| 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? | NO |
Date of disclosure: | 25th April 2025 |
Contact name: | Jason Williams |
Telephone number | 020 7029 8706 |
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.
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