31st Jan 2025 11:14
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: | 30 January 2025 |
(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 | 2,037,168
2,051,606 | 5.9950 GBP
5.9950 GBP | 5.7138 GBP
5.6662 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
Opening a Long Position
Opening a Short Position | 16,618 5,278 206,898 50
75 43,218 316,536 229 1,660 1,861 74,570 8,759 499 5 49 24,755 175 1,119 7,137 36,141
24,520 74,610 450 606
3,471 60,161 229 35,600 5,000 6,749 120,600 250,000 30,148
129,632 56,000
56,000 | 5.8580 GBP 5.8676 GBP 5.8821 GBP 5.9854 GBP
5.7597 GBP 5.7663 GBP 5.7788 GBP 5.7875 GBP 5.7917 GBP 5.8488 GBP 5.8554 GBP 5.8700 GBP 5.8748 GBP 5.8847 GBP 5.9578 GBP 5.9590 GBP 5.9799 GBP 5.9878 GBP 7.3519 GBP 7.3525 GBP
5.8095 GBP 5.8221 GBP 5.8846 GBP 5.9883 GBP
5.7138 GBP 5.7280 GBP 5.7475 GBP 5.8015 GBP 5.8191 GBP 5.8237 GBP 5.8850 GBP 5.8865 GBP 5.9068 GBP
5.7348 GBP 5.9656 GBP
5.9187 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 |
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(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) |
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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
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(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
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| Date of disclosure: | 31 January 2025 |
| Contact name: | Hetvi Shah |
| Telephone number: | 44 2034 936359 |
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 +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
Related Shares:
Smith (DS)