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: | 25 June 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 | 1,605,058 | 6.2280 GBP | 6.1710 GBP |
| 32 17/19p ordinary | Sales | 11,346,225 | 6.2280 GBP | 6.1700 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 long position | 20,298 | 6.1748 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 23 | 6.1773 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 84 | 6.1773 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 10 | 6.1773 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 4 | 6.1773 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 5,629 | 6.1782 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,029 | 6.1826 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,890 | 6.1850 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 319 | 6.1884 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 32 | 6.1884 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,174 | 6.1884 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 72 | 6.1884 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 51,132 | 6.1940 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 100 | 6.1946 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 10 | 6.1946 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 365 | 6.1946 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 24 | 6.1946 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 427 | 6.1956 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 807 | 6.1956 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,699 | 6.1996 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,804 | 6.2026 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 6,652 | 6.2032 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 7 | 6.2035 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 13,049 | 6.2035 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 3 | 6.2036 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 9,569 | 6.2038 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 202 | 6.2044 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 26 | 6.2044 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 743 | 6.2044 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 58 | 6.2044 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 255 | 6.2047 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 13,726 | 6.2047 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 6,700 | 6.2050 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 5,471 | 6.2051 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 33,431 | 6.2055 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,271 | 6.2055 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 619 | 6.2057 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 3,550 | 6.2071 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 379 | 6.2071 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 13,018 | 6.2071 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 849 | 6.2071 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 396,065 | 6.2073 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 234 | 6.2077 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 863 | 6.2077 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 145 | 6.2077 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,155 | 6.2077 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,202 | 6.2080 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 376 | 6.2090 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,379 | 6.2090 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 2,414 | 6.2102 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 12 | 6.2108 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 24 | 6.2108 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 140 | 6.2111 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 20,077 | 6.2111 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,421 | 6.2112 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 149 | 6.2112 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 4,984 | 6.2112 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 337 | 6.2112 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 17,100 | 6.2114 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 43,178 | 6.2118 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 115,252 | 6.2119 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 5,629 | 6.2119 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 55,154 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 13,049 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 48,745 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 796,157 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 29,792 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 15,970 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 13,726 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 6,944,094 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 16,638 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 53,877 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 128,319 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 235 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 45,740 | 6.2120 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 591 | 6.2121 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 2,169 | 6.2121 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 10,083 | 6.2121 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,611 | 6.2122 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 938 | 6.2123 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 43,346 | 6.2124 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 1,216 | 6.2125 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 67 | 6.2125 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 62,093 | 6.2128 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 13,445 | 6.2129 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,325 | 6.2129 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 168 | 6.2129 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 4,492 | 6.2129 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 380 | 6.2129 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 30,458 | 6.2129 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 39,486 | 6.2130 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,084 | 6.2130 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 196 | 6.2130 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 4,362 | 6.2130 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 298 | 6.2130 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 1,248 | 6.2131 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 892 | 6.2141 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 25,060 | 6.2143 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 7,617 | 6.2144 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 486 | 6.2144 GBP |
| 32 17/19p ordinary | CFD | Opening a long position | 7 | 6.2148 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 361 | 6.2151 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,638 | 6.2152 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 268 | 6.2154 GBP |
| 32 17/19p ordinary | CFD | Increasing a short position | 451 | 6.2156 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 40,609 | 6.2157 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 18,847 | 6.2158 GBP |
| 32 17/19p ordinary | CFD | Opening a short position | 255 | 6.2162 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 1,164 | 6.2166 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 5,334 | 6.2181 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 222 | 6.2194 GBP |
| 32 17/19p ordinary | CFD | Reducing a long position | 37,912 | 6.2195 GBP |
| 32 17/19p ordinary | CFD | Increasing a long position | 10,007 | 6.2224 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 1,606 | 6.2235 GBP |
| 32 17/19p ordinary | CFD | Reducing a short position | 106 | 6.2272 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: | 26 June 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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