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

JPMorgan Securities Plc

24 May 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:	23 May 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	5,584,459 8,469,930	3.8000 GBP 3.8240 GBP	3.7640 GBP 3.7620 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 Short Increase Long Increase Short Opening a Long Position Opening a Short Position	100,460 717 290,634 850,000 500,000 10,252 6,564 2,276 1,816 594 2,964 98,029 1,970 2,158,752 998 760 153,302 451 6,241 4,952 1,799 285 1,059 750,000 108,178 9,192 1,289 1,372 2,233 1,818 955 8,081 225,397 597 9,430 39,900 3,729 14,400 48,000 14,400 12,000 36,000	3.7640 GBP 3.7659 GBP 3.7672 GBP 3.7684 GBP 3.7702 GBP 3.7709 GBP 3.7723 GBP 3.7729 GBP 3.7731 GBP 3.7737 GBP 3.7740 GBP 3.7743 GBP 3.7747 GBP 3.7758 GBP 3.7762 GBP 3.7768 GBP 3.7772 GBP 3.7794 GBP 3.7795 GBP 3.7906 GBP 3.7960 GBP 3.7679 GBP 3.7819 GBP 3.7640 GBP 3.7642 GBP 3.7644 GBP 3.7665 GBP 3.7676 GBP 3.7680 GBP 3.7700 GBP 3.7743 GBP 3.7748 GBP 3.7751 GBP 3.7761 GBP 3.7794 GBP 3.7802 GBP 4.8077 GBP 3.7744 GBP 3.7750 GBP 3.7700 GBP 3.7708 GBP 3.7730 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:	24 May 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