Form 8.5 (EPT/RI)

Citigroup Global Markets Limited

11 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:	10 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	626,060	GBP 3.6655	GBP 3.6095
10p ordinary	Purchase	611,412	GBP 3.6620	GBP 3.6080

(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	129	GBP 3.6100
10p ordinary	TRS	Increasing Short Position	10	GBP 3.6120
10p ordinary	TRS	Increasing Short Position	35	GBP 3.6140
10p ordinary	TRS	Increasing Short Position	17	GBP 3.6180
10p ordinary	TRS	Increasing Short Position	45	GBP 3.6200
10p ordinary	TRS	Increasing Short Position	18	GBP 3.6240
10p ordinary	TRS	Increasing Short Position	34	GBP 3.6280
10p ordinary	TRS	Increasing Short Position	60	GBP 3.6340
10p ordinary	TRS	Increasing Short Position	18,796	GBP 3.6178
10p ordinary	TRS	Increasing Short Position	17,118	GBP 3.6184
10p ordinary	TRS	Increasing Short Position	312	GBP 3.6201
10p ordinary	TRS	Increasing Short Position	97,732	GBP 3.6269
10p ordinary	TRS	Increasing Short Position	8,059	GBP 3.6273
10p ordinary	TRS	Increasing Short Position	13,491	GBP 3.6310
10p ordinary	TRS	Increasing Short Position	95	GBP 3.6314
10p ordinary	TRS	Increasing Short Position	3,883	GBP 3.6322
10p ordinary	TRS	Increasing Short Position	2,489	GBP 3.6358
10p ordinary	TRS	Increasing Short Position	1,732	GBP 3.6383
10p ordinary	TRS	Increasing Short Position	806	GBP 3.6384
10p ordinary	TRS	Reducing Short Position	9,216	GBP 3.6095
10p ordinary	TRS	Reducing Short Position	1,297	GBP 3.6099
10p ordinary	TRS	Reducing Short Position	6,812	GBP 3.6135
10p ordinary	TRS	Reducing Short Position	16,140	GBP 3.6198
10p ordinary	TRS	Reducing Short Position	52,907	GBP 3.6203
10p ordinary	TRS	Reducing Short Position	14,925	GBP 3.6212
10p ordinary	TRS	Reducing Short Position	74,375	GBP 3.6445
10p ordinary	TRS	Reducing Short Position	4,242	GBP 3.6655
10p ordinary	TRS	Increasing Short Position	53,273	GBP 3.6545
10p ordinary	TRS	Closing Short Position	153,868	GBP 3.6197

(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 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