Form 8.5 (EPT/RI)

Citigroup Global Markets Limited

23 September 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:	20 September 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	125,000	USD 6.2473	USD 6.2473
10p ordinary	Sale	1,558,571	GBP 4.8270	GBP 4.6835
10p ordinary	Purchase	2,587,427	GBP 4.8060	GBP 4.6840

(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 Short Position	7,015	GBP 4.6840
10p ordinary	TRS	Opening Long Position	8,934	GBP 4.6840
10p ordinary	TRS	Increasing Short Position	61	GBP 4.6840
10p ordinary	TRS	Increasing Short Position	11,712	GBP 4.6841
10p ordinary	TRS	Increasing Short Position	400,340	GBP 4.6845
10p ordinary	TRS	Increasing Short Position	2,997	GBP 4.6980
10p ordinary	TRS	Increasing Short Position	100,000	GBP 4.7107
10p ordinary	TRS	Increasing Short Position	35,029	GBP 4.7551
10p ordinary	TRS	Increasing Short Position	173,890	GBP 4.7621
10p ordinary	TRS	Increasing Short Position	8,835	GBP 4.7644
10p ordinary	TRS	Increasing Short Position	1,132,138	GBP 4.7764
10p ordinary	TRS	Increasing Short Position	23,572	GBP 4.7908
10p ordinary	TRS	Increasing Short Position	1,197	GBP 4.7935
10p ordinary	TRS	Increasing Short Position	12,111	GBP 4.8058
10p ordinary	TRS	Reducing Short Position	60	GBP 4.6835
10p ordinary	TRS	Reducing Short Position	25,824	GBP 4.6835
10p ordinary	TRS	Reducing Short Position	68,192	GBP 4.6835
10p ordinary	TRS	Reducing Short Position	107	GBP 4.7266
10p ordinary	TRS	Reducing Short Position	15,270	GBP 4.7995
10p ordinary	TRS	Increasing Short Position	1,892	GBP 4.6840
10p ordinary	TRS	Increasing Short Position	8,620	GBP 4.8000
10p ordinary	TRS	Reducing Short Position	42,266	GBP 4.6840
10p ordinary	TRS	Increasing Short Position	1,400	GBP 4.7070
10p ordinary	TRS	Increasing Short Position	1,400	GBP 4.7090
10p ordinary	TRS	Increasing Short Position	3,942	GBP 4.7100
10p ordinary	TRS	Increasing Short Position	119	GBP 4.6840
10p ordinary	TRS	Increasing Short Position	20	GBP 4.8040
10p ordinary	TRS	Increasing Short Position	36	GBP 4.8060
10p ordinary	TRS	Increasing Short Position	35	GBP 4.6840
10p ordinary	TRS	Reducing Short Position	361,636	GBP 4.7279

(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:	23 September 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