Last checked at 22 Mar 2024 18:28
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
22 March 2024
Direct Line Insurance Group plc ("Direct Line Group" or the "Company")
Response to Rule 2.8 termination announcement from Ageas SA/NV ("Ageas")
The Board of Direct Line Group (the "Board") notes the announcement from Ageas confirming that it does not intend to make an offer for Direct Line Group. As a result, Ageas is bound by the restrictions set out in Rule 2.8 of the Takeover Code.
The Board is confident in Direct Line Group's standalone prospects. As communicated at Direct Line Group's 2023 preliminary results on 21 March 2024, the Board believes under Adam Winslow's leadership the Company is well-positioned to drive material improvement in performance that is expected to unlock significant value for Direct Line Group shareholders.
For further information, please contact:
Direct Line Group
Paul Smith
Director of Business Performance and Investor Relations
Email: paul.r.smith@directlinegroup.co.uk
Tel: +44 (0)7795 811263
Alan Oliver
Group Communications
Email: alan.oliver@directlinegroup.co.uk
Tel: +44 (0)7385 481295
Publication on website
A copy of this announcement will be made available on the Company's website at directlinegroup.co.uk by no later than 12 noon (London time) on the business day following the date of this announcement. For the avoidance of doubt, the contents of those websites are not incorporated into and do not form part of this announcement.