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J.P. Morgan Securities Plc, an exempt principal trader and corporate broker to Smith (DS) plc, disclosed dealings in Smith (DS) plc's 10p ordinary shares undertaken on 28 January 2025. The disclosure, dated 31 January 2025, reported purchases of 44,897,526 shares and sales of 3,318,098 shares, with prices ranging from 6.0050 GBP to 6.1050 GBP. Additionally, J.P. Morgan Securities Plc engaged in various cash-settled equity swap transactions involving both increases and decreases in long and short positions referencing Smith (DS) plc securities.
| Date | 31 Jan 2025 |
| Time | 17:14:03 |
| Category | Holding(s) in company |
| ID | 5373V |
AMENDMENT
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
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(a) Name of exempt principal trader: |
J.P. Morgan Securities Plc |
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(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 |
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(c) Name of the party to the offer with which exempt principal trader is connected: |
Corporate broker to Smith (DS) plc |
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(d) Date dealing undertaken: |
28 January 2025 |
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(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 |
44,897,526
3,318,098 |
6.1050 GBP
6.1005 GBP |
6.0050 GBP
6.0050 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 |
4,097 8,747 9,073 4,109 788 26,031,507
1,530,398 30 108,906 6,343 66,416 1,175 18,071 3,569
600 42,529
566 123,247 59,859 9,352 22,885 13,022 4,849 11,223 54,027 100,000 |
6.0149 GBP 6.0152 GBP 6.0206 GBP 6.0243 GBP 6.0365 GBP 6.0550 GBP
6.0068 GBP 6.0150 GBP 6.0400 GBP 6.0560 GBP 6.0700 GBP 6.1005 GBP 7.5164 GBP 7.5170 GBP
6.0146 GBP 6.0151 GBP
6.0052 GBP 6.0150 GBP 6.0163 GBP 6.0170 GBP 6.0191 GBP 6.0537 GBP 6.0555 GBP 6.0619 GBP 6.0746 GBP 7.5286 GBP |
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
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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 |
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(ii) Exercise
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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)
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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
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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" |
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None
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(b) Agreements, arrangements or understandings relating to options or derivatives
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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" |
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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.