Form 8.5 (EPT/RI)-Smith (DS) plc

JPMorgan Securities Plc

26 April 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:	J.P. Morgan Securities Plc
(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:	Corporate broker to Smith (DS) plc
(d) Date dealing undertaken:	25 April 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"	Yes, 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	Purchase Sale	6,399,418 6,479,799	3.4720 GBP 3.4680 GBP	3.2930 GBP 3.2920 GBP

(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	Equity Swap	Decrease Long Decrease Short Increase Long Increase Short	1,200 12,740 232,547 77,771 4,559 56,362 35,538 10 360,000 131,878 17,369 70,476 6,139 37,187 24,413 400 7,325 1,293 80,000 117,497 10,153 10,159 34,998 5,782 8,815 19,332 5,873 81,317 780,264 15,828 3,414 2,449 131,618 20,000 865 4,475 57,355 1,455 24,952 2,492 15,750 109,541 66,988 5,518 26,235 13,275 14,687 81,800 120,000 24,615 32,019 611 700,000	3.3161 GBP 3.3537 GBP 3.4000 GBP 3.4005 GBP 3.4007 GBP 3.4094 GBP 3.3130 GBP 3.3539 GBP 3.3680 GBP 3.3945 GBP 3.3965 GBP 3.4000 GBP 3.4059 GBP 3.4063 GBP 3.4097 GBP 3.4151 GBP 3.4169 GBP 3.4200 GBP 3.4222 GBP 3.4231 GBP 3.4245 GBP 3.4254 GBP 3.4285 GBP 3.4315 GBP 3.4322 GBP 3.3494 GBP 3.3668 GBP 3.3927 GBP 3.4000 GBP 3.4153 GBP 3.4177 GBP 3.3064 GBP 3.3112 GBP 3.3140 GBP 3.3150 GBP 3.3453 GBP 3.3459 GBP 3.3508 GBP 3.3783 GBP 3.3941 GBP 3.3951 GBP 3.4000 GBP 3.4002 GBP 3.4006 GBP 3.4007 GBP 3.4011 GBP 3.4075 GBP 3.4171 GBP 3.4184 GBP 3.4332 GBP 3.4456 GBP 3.4558 GBP 4.2049 GBP

(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:	26 April 2024
Contact name:	Natasha Mondon
Telephone number:	01202 325175

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END