REG - BkofA Merrill Lynch Smith (DS) PLC - 20250131_DS SMITH PLC_8.5 EPT RI_UK_MLI

DS SmithAnnouncement

03/02/2025 11:15

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RNS Number : 6770V  Bank of America Merrill Lynch  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:                                        Merrill Lynch International
 (b)  Name of offeror/offeree in relation to whose                            DS SMITH PLC

 relevant securities this form relates:
    Use a separate form for each offeror/offeree
 (c)  Name of the party to the offer with which exempt principal trader is    INTERNATIONAL PAPER CO
    connected:
 (d)  Date dealing undertaken:                                                31/01/2025
 (e)  In addition to the company in 1(b) above, is the                        YES

 exempt principal trader making disclosures in
If YES, specify which:

 respect of any other party to this offer?
(INTERNATIONAL PAPER CO)
    If it is a cash offer or possible cash offer, state "N/A"

Merrill Lynch International

 (b)  Name of offeror/offeree in relation to whose

relevant securities this form relates:
      Use a separate form for each offeror/offeree

DS SMITH PLC

 (c)  Name of the party to the offer with which exempt principal trader is
      connected:

INTERNATIONAL PAPER CO

 (d)  Date dealing undertaken:

31/01/2025

 (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

If YES, specify which:

(INTERNATIONAL PAPER CO)

 

 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/  Total number of securities  Highest price             Lowest price

sales
per unit
per unit

paid/received
paid/received
 10p ordinary                Purchase    40,525,593                  5.946 GBP                 5.755 GBP
 10p ordinary                Sale        7,971,116                   5.98 GBP                  5.805 GBP

 

 (b)  Cash-settled derivative transactions

 Class of            Product description   Nature of dealing                            Number of reference securities  Price per unit

relevant security
e.g. CFD
e.g. opening/closing a

long/short position, increasing/reducing a

long/short position
 10p ordinary        Swaps - Equity Swaps  Closing a Short Position                     3,439                           5.988 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Long Position                     24,320                          5.809 GBP
 10p ordinary        Swaps - Equity Swaps  Closing a Long Position                      6,105                           5.809 GBP
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     3,439                           5.809 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    35,534                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    133,904                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    464,999                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    94,078                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    82,652                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    107,084                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    561,130                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    288,005                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    935,091                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    825,001                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    300,001                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    785,554                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    142,299                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    682,819                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    31,237                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    100,074                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    73,323                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    22,751                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    75,873                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    84,299                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    35,563                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    750                             5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    2,461,625                       5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    19,256                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    1,622                           5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    210,857                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    45,163                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    45,522                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    29,223                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    4,933                           5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    2,020,429                       5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Closing a Short Position                     2,020,429                       5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    825,001                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    54,667                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    53,459                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    48,920                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    256,566                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    153,322                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    356,544                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    237,758                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    48,717                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    27,750                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    46,897                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    191,251                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    150,000                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    73,866                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    39,187                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    75,700                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    147,431                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    34,557                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    745,067                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    188,870                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    96,871                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    98,749                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    63,135                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    1,500,000                       5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    234,796                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    1,330,744                       5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    330,001                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    138,898                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    56,813                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    11,854                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    10,412                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    85,523                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    32,290                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    7,583                           5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    673,476                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    16,239                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    15,633                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    32,917                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    18,937                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    18,221                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    31,360                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    16,307                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    27,551                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    49,142                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    24,442                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    1,645                           5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    248,355                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    21,045                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    15,174                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    9,250                           5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    79,252                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    25,235                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    35,685                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    3,694,493                       5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    28,099                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    9,740                           5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    13,062                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    46,299                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    20,169                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    47,432                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    227,607                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    155,001                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    24,622                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    33,358                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    11,528                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    187,043                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    250                             5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Closing a Short Position                     673,476                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    17,820                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    15,054                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    62,957                          5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Long Position                   94,836                          5.935 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Short Position                  935,000                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Short Position                  1,000,000                       5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Short Position                  833,125                         5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Closing a Short Position                     79,515                          5.884 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Long Position                   112,407                         5.935 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Long Position                   13,269                          5.935 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Long Position                   8,380                           5.935 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Long Position                   63,400                          5.828 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Long Position                     192                             5.845 GBP
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     6,775,538                       7.248 USD
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     20,326,617                      7.248 USD
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     1,320,000                       7.255 USD
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     880,000                         7.255 USD
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     2,500,000                       5.827 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Short Position                  500,000                         5.827 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    2,500,000                       5.914 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    615                             5.79 GBP
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     5,704                           5.845 GBP
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     5,000,000                       7.242 USD
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     22,500,000                      5.825 GBP
 10p ordinary        Swaps - Equity Swaps  Increasing a Short Position                  68,696                          5.81 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    19,865                          5.949 GBP
 10p ordinary        Swaps - Equity Swaps  Opening a Short Position                     68,685                          5.807 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    48,820                          5.943 GBP
 10p ordinary        Swaps - Equity Swaps  Reducing a Short Position                    48,696                          5.949 GBP
 10p ordinary        Swaps - Equity Swaps  Closing a Short Position                     20,000                          5.948 GBP
 10p ordinary        Swaps - Equity Swaps  Closing a Long Position                      1,000,000                       5.827 GBP
 10p ordinary        Swaps - Equity Swaps  Opening a Long Position                      1,000,000                       5.832 GBP

 

 (c)  Stock-settled derivative transactions (including options)

 (i)  Writing, selling, purchasing or varying

 Class               Product description e.g. call option  Writing, purchasing, selling, varying etc.  Number                               Exercise   Type                           Expiry date  Option money paid/ received per unit

of
of
price
e.g. American, European etc.

relevant security
securities to which option relates
per unit
 N/A                 N/A                                   N/A                                         N/A                                  N/A        N/A                            N/A          N/A

 

 (ii)  Exercise

 Class of relevant security  Product description  Exercising/  Number of    Exercise Price per

e.g. call option
exercised
securities
unit

against
 N/A                         N/A                  N/A          N/A          N/A

 

 (d)  Other dealings (including subscribing for new securities)

 Class of relevant security  Nature of dealing               Details  Price per unit (if applicable)

e.g. subscription, conversion
 N/A                         N/A                             N/A      N/A

 

 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:  03/02/2025
 Contact name:        Frank Lui
 Telephone number:    +44207 996 6418

 

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
(http://www.thetakeoverpanel.org.uk) .

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