Form 8.5 (EPT/RI)

Citigroup Global Markets Limited

12 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:	11 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	2,086,242	GBP 3.6310	GBP 3.5560
10p ordinary	Purchase	770,096	GBP 3.6328	GBP 3.5560

(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	17,948	GBP 3.5709
10p ordinary	TRS	Increasing Short Position	84,327	GBP 3.5711
10p ordinary	TRS	Increasing Short Position	6,218	GBP 3.5606
10p ordinary	TRS	Increasing Short Position	231	GBP 3.5644
10p ordinary	TRS	Increasing Short Position	738	GBP 3.5867
10p ordinary	TRS	Increasing Short Position	21,512	GBP 3.6004
10p ordinary	TRS	Increasing Short Position	499	GBP 3.6059
10p ordinary	TRS	Increasing Short Position	26,845	GBP 3.6278
10p ordinary	TRS	Increasing Short Position	773	GBP 3.6328
10p ordinary	TRS	Reducing Short Position	12,496	GBP 3.5599
10p ordinary	TRS	Reducing Short Position	29,931	GBP 3.5649
10p ordinary	TRS	Reducing Short Position	147,419	GBP 3.5686
10p ordinary	TRS	Reducing Short Position	5,400	GBP 3.5696
10p ordinary	TRS	Reducing Short Position	43,468	GBP 3.5701
10p ordinary	TRS	Reducing Short Position	6,185	GBP 3.5709
10p ordinary	TRS	Reducing Short Position	455,419	GBP 3.5734
10p ordinary	TRS	Reducing Short Position	1,257	GBP 3.5737
10p ordinary	TRS	Reducing Short Position	377,997	GBP 3.5754
10p ordinary	TRS	Reducing Short Position	339	GBP 3.5755
10p ordinary	TRS	Reducing Short Position	6,974	GBP 3.5772
10p ordinary	TRS	Reducing Short Position	458	GBP 3.5812
10p ordinary	TRS	Reducing Short Position	473,717	GBP 3.5842
10p ordinary	TRS	Reducing Short Position	14,638	GBP 3.5932
10p ordinary	TRS	Reducing Short Position	6	GBP 3.6195
10p ordinary	TRS	Increasing Short Position	58	GBP 3.5660
10p ordinary	TRS	Increasing Short Position	73	GBP 3.5720
10p ordinary	TRS	Increasing Short Position	70	GBP 3.5740
10p ordinary	TRS	Increasing Short Position	133	GBP 3.5760
10p ordinary	TRS	Increasing Short Position	56	GBP 3.5800
10p ordinary	TRS	Increasing Short Position	77	GBP 3.6020

(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:	12 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