Form 8.5 (EPT/RI)

Citigroup Global Markets Limited

11 March 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:	Citigroup Global Markets Limited
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Smith (DS) plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Smith (DS) plc
(d) Date dealing undertaken:	08 March 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"	Mondi 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
10p ordinary	Sale	7,164,811	GBP 3.5000	GBP 3.4231
10p ordinary	Purchase	5,633,462	GBP 3.5070	GBP 3.4200

(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	TRS	Increasing Short Position	535	GBP 3.4245
10p ordinary	TRS	Increasing Short Position	170,069	GBP 3.4451
10p ordinary	TRS	Increasing Short Position	227,776	GBP 3.4643
10p ordinary	TRS	Reducing Short Position	1,924,896	GBP 3.4619
10p ordinary	TRS	Reducing Short Position	34,744	GBP 3.4635
10p ordinary	TRS	Increasing Short Position	4,242,281	GBP 3.4200
10p ordinary	TRS	Increasing Short Position	42,796	GBP 3.4264
10p ordinary	TRS	Increasing Short Position	25,000	GBP 3.4274
10p ordinary	TRS	Increasing Short Position	11,257	GBP 3.4533
10p ordinary	TRS	Increasing Short Position	269,843	GBP 3.4582
10p ordinary	TRS	Increasing Short Position	1,135	GBP 3.4643
10p ordinary	TRS	Increasing Short Position	1,945	GBP 3.4653
10p ordinary	TRS	Increasing Short Position	965	GBP 3.4754
10p ordinary	TRS	Increasing Short Position	120,076	GBP 3.4804
10p ordinary	TRS	Reducing Short Position	361,194	GBP 3.4264
10p ordinary	TRS	Reducing Short Position	450,000	GBP 3.4292
10p ordinary	TRS	Reducing Short Position	47,524	GBP 3.4354
10p ordinary	TRS	Reducing Short Position	798,608	GBP 3.4362
10p ordinary	TRS	Reducing Short Position	38,705	GBP 3.4369
10p ordinary	TRS	Reducing Short Position	11,618	GBP 3.4511
10p ordinary	TRS	Reducing Short Position	18,236	GBP 3.4602
10p ordinary	TRS	Reducing Short Position	1,019,597	GBP 3.4619
10p ordinary	TRS	Reducing Short Position	19,444	GBP 3.4641
10p ordinary	TRS	Reducing Short Position	510,135	GBP 3.4667
10p ordinary	TRS	Reducing Short Position	3,905	GBP 3.4769
10p ordinary	TRS	Reducing Short Position	1,034,864	GBP 3.4842
10p ordinary	TRS	Reducing Short Position	28,250	GBP 3.4856
10p ordinary	TRS	Reducing Short Position	334,613	GBP 3.4918
10p ordinary	TRS	Increasing Short Position	51,003	GBP 3.4640

(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:	11 March 2024
Contact name:	Craig Watson
Telephone number:	02890 409 605

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [e-mail]. The Panels Market Surveillance Unit is available for consultation in relation to the Codes dealing disclosure requirements on [phone].

The Code can be viewed on the Panels website at www.thetakeoverpanel.org.uk.

 

END