Form 8.5 (EPT/RI)

Released : Jun 05, 2024

RNS Number : 2144R
Citigroup Global Markets Limited
05 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:

04 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

1,650,335

GBP 3.7840

GBP 3.7220

10p ordinary

Purchase

1,266,488

GBP 3.7760

GBP 3.7240

 

(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 Long Position

53

GBP 3.7460

10p ordinary

TRS

Reducing Long Position

55

GBP 3.7480

10p ordinary

TRS

Reducing Long Position

57

GBP 3.7500

10p ordinary

TRS

Reducing Long Position

54

GBP 3.7520

10p ordinary

TRS

Reducing Long Position

109

GBP 3.7560

10p ordinary

TRS

Reducing Long Position

239

GBP 3.7600

10p ordinary

TRS

Reducing Long Position

394

GBP 3.7620

10p ordinary

TRS

Reducing Long Position

411

GBP 3.7640

10p ordinary

TRS

Reducing Long Position

55

GBP 3.7660

10p ordinary

TRS

Reducing Long Position

125

GBP 3.7680

10p ordinary

TRS

Reducing Long Position

163

GBP 3.7700

10p ordinary

TRS

Reducing Long Position

72

GBP 3.7720

10p ordinary

TRS

Increasing Short Position

6,449

GBP 3.7430

10p ordinary

TRS

Increasing Short Position

656

GBP 3.7479

10p ordinary

TRS

Increasing Short Position

151

GBP 3.7584

10p ordinary

TRS

Increasing Short Position

23

GBP 3.7604

10p ordinary

TRS

Reducing Short Position

594

GBP 3.7566

10p ordinary

TRS

Reducing Short Position

860

GBP 3.7596

10p ordinary

TRS

Reducing Short Position

4,820

GBP 3.7596

10p ordinary

TRS

Reducing Short Position

19,298

GBP 3.7601

10p ordinary

TRS

Reducing Short Position

59,743

GBP 3.7616

10p ordinary

TRS

Reducing Short Position

85,101

GBP 3.7616

10p ordinary

TRS

Reducing Short Position

237,852

GBP 3.7621

10p ordinary

TRS

Reducing Short Position

7,676

GBP 3.7622

10p ordinary

TRS

Reducing Short Position

826

GBP 3.7636

10p ordinary

TRS

Increasing Short Position

17,387

GBP 3.7620

10p ordinary

TRS

Increasing Long Position

318

GBP 3.7220

10p ordinary

TRS

Increasing Long Position

944

GBP 3.7240

10p ordinary

TRS

Increasing Long Position

32,005

GBP 3.7260

10p ordinary

TRS

Increasing Long Position

1,530

GBP 3.7840

10p ordinary

TRS

Reducing Short Position

461

GBP 3.7480

 

(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:                            

05 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 [email protected]. The Panels Market Surveillance Unit is available for consultation in relation to the Codes dealing disclosure requirements on +44 (0)20 7638 0129.

 

The Code can be viewed on the Panels website at www.thetakeoverpanel.org.uk.

 

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