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 | Direct Line Insurance Group plc |
| (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 | 15th May 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" |
Aviva PLC |
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:
| 10 10/11p ordinary | |||
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| Interests | Short positions | ||
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| Number | % | Number | % |
| (1) Relevant securities owned and/or controlled: | 13,189,018 | 1.006 |
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| (2) Cash-settled derivatives:
| 17,458,030 | 1.331 | 30,508,990 | 2.326 |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: |
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| TOTAL: | 30,647,048 | 2.337 | 30,508,990 | 2.326 |
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) |
| 10 10/11p ordinary | Purchases
Sales
| 96,690 25,000 356,638 2,458 27,619 1,908 371,092 37,890 42,271 38,395 115,760 27,571 7,700 4,000 19,380 122,321 53,625 24,356 7,000 135,475 7,110 48,271 804 5,000 17,114 94,921 39,460
10,000 500,000 250,000 3,670 250,000 50,000 35,000 974,094 200 5,000 100,784 53,750 170,068 30,001 1,042 24,356 25,000 | 287.6000 287.7000 288.2000 288.4681 290.1643 290.9000 291.0000 291.0810 291.2000 291.3000 291.4000 291.6000 291.7000 291.7400 292.1927 292.2700 292.3952 292.4000 292.6700 293.0000 293.1000 293.2000 293.3000 293.3050 293.4000 293.5050 293.6000
287.8000 287.8362 288.0084 288.2000 288.2095 288.4000 289.0000 289.5317 290.0000 290.2000 291.0000 291.2000 291.4000 291.6000 292.3426 292.4585 292.6000 |
(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) |
| 10 10/11p ordinary | Swap Swap Swap Swap Swap Swap Swap | Reducing a short position Reducing a long position Reducing a long position Reducing a long position Reducing a long position Reducing a long position Reducing a long position | 1,042 26,268 19,755 3,045 2,154 9,966 4,461 | 292.3428 293.3120 293.3120 293.3120 293.3120 293.3120 293.3120 |
(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: | 16th May 2025 |
Contact name: | Robin Greenwood |
Telephone number | 020 7029 8595 |
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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