Form 8.5 (EPT/RI)

Citigroup Global Markets Limited

05 June 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:	04 June 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"	International Paper Company

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	1,650,335	GBP 3.7840	GBP 3.7220
10p ordinary	Purchase	1,266,488	GBP 3.7760	GBP 3.7240

(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	Reducing Long Position	53	GBP 3.7460
10p ordinary	TRS	Reducing Long Position	55	GBP 3.7480
10p ordinary	TRS	Reducing Long Position	57	GBP 3.7500
10p ordinary	TRS	Reducing Long Position	54	GBP 3.7520
10p ordinary	TRS	Reducing Long Position	109	GBP 3.7560
10p ordinary	TRS	Reducing Long Position	239	GBP 3.7600
10p ordinary	TRS	Reducing Long Position	394	GBP 3.7620
10p ordinary	TRS	Reducing Long Position	411	GBP 3.7640
10p ordinary	TRS	Reducing Long Position	55	GBP 3.7660
10p ordinary	TRS	Reducing Long Position	125	GBP 3.7680
10p ordinary	TRS	Reducing Long Position	163	GBP 3.7700
10p ordinary	TRS	Reducing Long Position	72	GBP 3.7720
10p ordinary	TRS	Increasing Short Position	6,449	GBP 3.7430
10p ordinary	TRS	Increasing Short Position	656	GBP 3.7479
10p ordinary	TRS	Increasing Short Position	151	GBP 3.7584
10p ordinary	TRS	Increasing Short Position	23	GBP 3.7604
10p ordinary	TRS	Reducing Short Position	594	GBP 3.7566
10p ordinary	TRS	Reducing Short Position	860	GBP 3.7596
10p ordinary	TRS	Reducing Short Position	4,820	GBP 3.7596
10p ordinary	TRS	Reducing Short Position	19,298	GBP 3.7601
10p ordinary	TRS	Reducing Short Position	59,743	GBP 3.7616
10p ordinary	TRS	Reducing Short Position	85,101	GBP 3.7616
10p ordinary	TRS	Reducing Short Position	237,852	GBP 3.7621
10p ordinary	TRS	Reducing Short Position	7,676	GBP 3.7622
10p ordinary	TRS	Reducing Short Position	826	GBP 3.7636
10p ordinary	TRS	Increasing Short Position	17,387	GBP 3.7620
10p ordinary	TRS	Increasing Long Position	318	GBP 3.7220
10p ordinary	TRS	Increasing Long Position	944	GBP 3.7240
10p ordinary	TRS	Increasing Long Position	32,005	GBP 3.7260
10p ordinary	TRS	Increasing Long Position	1,530	GBP 3.7840
10p ordinary	TRS	Reducing Short Position	461	GBP 3.7480

(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:	05 June 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