20240816_DS SMITH PLC_8.5 EPT RI_MLI

Bank of America Merrill Lynch

19 August 2024

 

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:	Merrill Lynch International
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	DS SMITH PLC
(c) Name of the party to the offer with which exempt principal trader is connected:	INTERNATIONAL PAPER CO
(d) Date dealing undertaken:	16/08/2024
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer? If it is a cash offer or possible cash offer, state "N/A"	YES If YES, specify which: (INTERNATIONAL PAPER CO)

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
10p ordinary	Purchase	563,185	4.639 GBP	4.56 GBP
10p ordinary	Sale	76,667	4.652 GBP	4.56 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
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	39,401	4.639 GBP
10p ordinary	Swaps - Equity Swaps	Closing a Long Position	5,884	4.563 GBP
10p ordinary	Swaps - Equity Swaps	Opening a Long Position	8,387	4.626 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	14,450	4.604 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	37,400	4.604 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	175,000	5.962 USD
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	1,967	4.594 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	50,000	5.985 USD
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	73,866	4.617 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	24,622	4.617 GBP
10p ordinary	Swaps - Equity Swaps	Opening a Short Position	34,442	4.601 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	34,442	4.602 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	34,667	4.639 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	566	4.62 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,400	4.62 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	350	4.584 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	331	4.634 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	20	4.634 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	330	4.619 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
N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

(ii)

Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise Price per unit
N/A	N/A	N/A	N/A	N/A

(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)
N/A	N/A	N/A	N/A

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:	19/08/2024
Contact name:	Frank Lui
Telephone number:	[phone]

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
dealing disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END