/Equities/XLON/SMDS/RNS

Form 8.5 (EPT/RI)

RNS Number : 6516V

Citigroup Global Markets Limited

03 February 2025

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:	31 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"	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	91,401,117	GBP 5.9400	GBP 5.7800
10p ordinary	Purchase	96,551,645	GBP 5.9500	GBP 5.7822

(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	Increasing Short Position	1,266	GBP 5.7958
10p ordinary	TRS	Reducing Long Position	1,266	GBP 5.7958
10p ordinary	TRS	Increasing Short Position	4,491	GBP 5.8012
10p ordinary	TRS	Reducing Long Position	4,491	GBP 5.8012
10p ordinary	TRS	Increasing Short Position	597	GBP 5.8106
10p ordinary	TRS	Reducing Long Position	597	GBP 5.8106
10p ordinary	TRS	Increasing Short Position	105,512	GBP 5.8250
10p ordinary	TRS	Reducing Long Position	105,512	GBP 5.8250
10p ordinary	TRS	Increasing Short Position	22,498,120	GBP 5.8254
10p ordinary	TRS	Reducing Long Position	22,498,120	GBP 5.8254
10p ordinary	TRS	Increasing Short Position	623,846	GBP 5.8254
10p ordinary	TRS	Reducing Long Position	623,846	GBP 5.8254
10p ordinary	TRS	Increasing Short Position	9,488,931	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	9,488,931	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	2,406,480	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	2,406,480	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	16,247,840	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	16,247,840	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	36,163,624	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	36,163,624	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	125	GBP 5.8257
10p ordinary	TRS	Reducing Long Position	125	GBP 5.8257
10p ordinary	TRS	Increasing Short Position	13,763	GBP 5.8261
10p ordinary	TRS	Reducing Long Position	13,763	GBP 5.8261
10p ordinary	TRS	Increasing Short Position	2,365,719	GBP 5.9500
10p ordinary	TRS	Reducing Long Position	2,365,719	GBP 5.9500
10p ordinary	TRS	Increasing Long Position	4	GBP 5.8144
10p ordinary	TRS	Reducing Short Position	4	GBP 5.8144
10p ordinary	TRS	Reducing Short Position	448	GBP 5.8249
10p ordinary	TRS	Increasing Long Position	88,605,512	GBP 5.8250
10p ordinary	TRS	Reducing Short Position	88,605,512	GBP 5.8250
10p ordinary	TRS	Increasing Long Position	448	GBP 5.8249
10p ordinary	TRS	Increasing Long Position	375,185	GBP 5.8933
10p ordinary	TRS	Reducing Short Position	375,185	GBP 5.8933
10p ordinary	TRS	Increasing Long Position	180	GBP 5.9008
10p ordinary	TRS	Reducing Short Position	180	GBP 5.9008
10p ordinary	TRS	Increasing Long Position	9,887	GBP 5.9319
10p ordinary	TRS	Reducing Short Position	9,887	GBP 5.9319
10p ordinary	TRS	Increasing Short Position	701,315	GBP 5.8250
10p ordinary	TRS	Closing Short Position	2,452	GBP 5.8250
10p ordinary	TRS	Closing Short Position	30,009	GBP 5.8250
10p ordinary	TRS	Opening Short Position	50,672	GBP 5.8253
10p ordinary	TRS	Opening Short Position	364	GBP 5.8703
10p ordinary	TRS	Closing Short Position	16,820	GBP 5.8250
10p ordinary	TRS	Closing Short Position	11,110	GBP 5.8250
10p ordinary	TRS	Closing Short Position	246,859	GBP 5.8250
10p ordinary	TRS	Closing Long Position	76	GBP 5.8250
10p ordinary	TRS	Closing Short Position	55,800	GBP 5.8250
10p ordinary	TRS	Closing Long Position	9,024	GBP 5.8250
10p ordinary	TRS	Opening Short Position	818,125	GBP 5.8252

(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:	03 February 2025
Contact name:	Christopher Alexander Pollock
Telephone number:	02895 954 053

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

FERZZGGZLFZGKZG

RNS Number : 6516V

Citigroup Global Markets Limited

03 February 2025

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:	31 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"	International Paper Company

2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER

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	91,401,117	GBP 5.9400	GBP 5.7800
10p ordinary	Purchase	96,551,645	GBP 5.9500	GBP 5.7822

(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	Increasing Short Position	1,266	GBP 5.7958
10p ordinary	TRS	Reducing Long Position	1,266	GBP 5.7958
10p ordinary	TRS	Increasing Short Position	4,491	GBP 5.8012
10p ordinary	TRS	Reducing Long Position	4,491	GBP 5.8012
10p ordinary	TRS	Increasing Short Position	597	GBP 5.8106
10p ordinary	TRS	Reducing Long Position	597	GBP 5.8106
10p ordinary	TRS	Increasing Short Position	105,512	GBP 5.8250
10p ordinary	TRS	Reducing Long Position	105,512	GBP 5.8250
10p ordinary	TRS	Increasing Short Position	22,498,120	GBP 5.8254
10p ordinary	TRS	Reducing Long Position	22,498,120	GBP 5.8254
10p ordinary	TRS	Increasing Short Position	623,846	GBP 5.8254
10p ordinary	TRS	Reducing Long Position	623,846	GBP 5.8254
10p ordinary	TRS	Increasing Short Position	9,488,931	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	9,488,931	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	2,406,480	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	2,406,480	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	16,247,840	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	16,247,840	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	36,163,624	GBP 5.8256
10p ordinary	TRS	Reducing Long Position	36,163,624	GBP 5.8256
10p ordinary	TRS	Increasing Short Position	125	GBP 5.8257
10p ordinary	TRS	Reducing Long Position	125	GBP 5.8257
10p ordinary	TRS	Increasing Short Position	13,763	GBP 5.8261
10p ordinary	TRS	Reducing Long Position	13,763	GBP 5.8261
10p ordinary	TRS	Increasing Short Position	2,365,719	GBP 5.9500
10p ordinary	TRS	Reducing Long Position	2,365,719	GBP 5.9500
10p ordinary	TRS	Increasing Long Position	4	GBP 5.8144
10p ordinary	TRS	Reducing Short Position	4	GBP 5.8144
10p ordinary	TRS	Reducing Short Position	448	GBP 5.8249
10p ordinary	TRS	Increasing Long Position	88,605,512	GBP 5.8250
10p ordinary	TRS	Reducing Short Position	88,605,512	GBP 5.8250
10p ordinary	TRS	Increasing Long Position	448	GBP 5.8249
10p ordinary	TRS	Increasing Long Position	375,185	GBP 5.8933
10p ordinary	TRS	Reducing Short Position	375,185	GBP 5.8933
10p ordinary	TRS	Increasing Long Position	180	GBP 5.9008
10p ordinary	TRS	Reducing Short Position	180	GBP 5.9008
10p ordinary	TRS	Increasing Long Position	9,887	GBP 5.9319
10p ordinary	TRS	Reducing Short Position	9,887	GBP 5.9319
10p ordinary	TRS	Increasing Short Position	701,315	GBP 5.8250
10p ordinary	TRS	Closing Short Position	2,452	GBP 5.8250
10p ordinary	TRS	Closing Short Position	30,009	GBP 5.8250
10p ordinary	TRS	Opening Short Position	50,672	GBP 5.8253
10p ordinary	TRS	Opening Short Position	364	GBP 5.8703
10p ordinary	TRS	Closing Short Position	16,820	GBP 5.8250
10p ordinary	TRS	Closing Short Position	11,110	GBP 5.8250
10p ordinary	TRS	Closing Short Position	246,859	GBP 5.8250
10p ordinary	TRS	Closing Long Position	76	GBP 5.8250
10p ordinary	TRS	Closing Short Position	55,800	GBP 5.8250
10p ordinary	TRS	Closing Long Position	9,024	GBP 5.8250
10p ordinary	TRS	Opening Short Position	818,125	GBP 5.8252

(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

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

If there are no such agreements, arrangements or understandings, state "none"

None

Date of disclosure:	03 February 2025
Contact name:	Christopher Alexander Pollock
Telephone number:	02895 954 053

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

END

FERZZGGZLFZGKZG

Date	3 Feb 2025
Time	09:23:50
Category	Holding(s) in company
ID	6516V

Date	3 Feb 2025
Time	09:23:50
Category	Holding(s) in company
ID	6516V

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Form 8.5 (EPT/RI)

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