Source - LSE Regulatory
RNS Number : 6853G
BNP Paribas London
02 October 2024
 

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR

MORE

Rule 8.3 of the Takeover Code (the "Code")

 

1.

KEY INFORMATION


 

 (a)  Full name of discloser:

 

BNP Paribas SA

 (b)  Owner or controller of interests and short positions disclosed, if different from 1(a):

       The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.


 (c)  Name of offeror/offeree in relation to whose relevant securities this form relates:

       Use a separate form for each offeror/offeree

International Paper Company

 (d)  If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:


 (e)  Date position held/dealing undertaken:

       For an opening position disclosure, state the latest practicable date prior to the disclosure

01/10/2024

 (f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

       If it is a cash offer or possible cash offer, state "N/A"

Yes: Smith (DS) plc

 

2.

POSITIONS OF THE PERSON MAKING THE DISCLOSURE


 

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.


 

(a)

Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)


 

Class of relevant security:

 

US4601461035 (common stock)

 

 

 

Interests

 

Short Positions

 

 


Number

%

Number

%

  (1) Relevant securities owned and/or controlled:

           7,271,994

   2.09

          -5,008,435

  -1.44

  (2) Cash-settled derivatives:

 

             187,846

    .05

-5,316,100

-1.53

  (3) Stock-settled derivatives (including options) and agreements to purchase/sell:

           2,037,100

    .59

          -2,277,000

   -.66

       TOTAL:

           9,496,940

   2.73

-12,601,535

-3.63

 

All interests and all short positions should be disclosed.


 

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).


 

(b)

Rights to subscribe for new securities (including directors'' and other employee options)


 

Class of relevant security in relation to which subscription right exists:


Details, including nature of the rights concerned and relevant percentages:


 

3.

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE


 

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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

Purchase/sale

Number of

securities

Price per unit

US4601461035

Purchase

                  74

              48.8500 USD

US4601461035

Purchase

                   1

              49.2100 USD

US4601461035

Purchase

                  42

              49.2100 USD

US4601461035

Sale

             -12,970

              49.2100 USD

US4601461035

Purchase

                 123

              49.2100 USD

US4601461035

Sale

              -1,230

              49.2100 USD

US4601461035

Sale

             -18,370

              49.2100 USD

US4601461035

Purchase

               2,230

              49.2100 USD

US4601461035

Sale

                  -3

              48.8500 USD

US4601461035

Purchase

                  11

              49.2100 USD

US4601461035

Purchase

               1,438

              49.2100 USD

US4601461035

Sale

              -7,500

              49.2100 USD

US4601461035

Sale

                 -20

              49.2100 USD

US4601461035

Sale

                  -5

              49.2100 USD

US4601461035

Purchase

                 109

              49.2100 USD

US4601461035

Sale

              -5,000

              49.2100 USD

US4601461035

Purchase

                 121

              49.2100 USD

US4601461035

Sale

                 -12

              49.2100 USD

US4601461035

Sale

                 -69

              49.2100 USD

US4601461035

Purchase

                   5

              49.2100 USD

US4601461035

Sale

                -154

              48.8500 USD

US4601461035

Purchase

              20,100

              49.2100 USD

US4601461035

Purchase

                  84

              49.2100 USD

US4601461035

Purchase

                 162

              48.8500 USD

US4601461035

Sale

                -240

              48.8500 USD

US4601461035

Purchase

                  33

              49.2100 USD

 

(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

references

securities

Price per

unit

US4601461035

Contract for Difference

Opening Long Position

                  20

              49.2100 USD

US4601461035

Contract for Difference

Increasing Long Position

               5,000

              49.2100

US4601461035

Contract for Difference

Reducing Long Position

             -20,100

              49.2100 USD

 

(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

US4601461035

Short Put Option

Increasing Long Position

          36,400

              49.2100 USD

american

20/06/2025


US4601461035

Short Call Option

Reducing Long Position

         -36,400

              49.2100 USD

american

20/06/2025


US4601461035

Short Call Option

Reducing Long Position

          -4,900

              49.2100 USD

american

19/09/2025


US4601461035

Short Call Option

Reducing Long Position

         -50,000

              49.2100 USD

american

17/04/2025


 

(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)

 

 

 

 

 

 

 

 

 

4.

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 person 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)

Indemnity and other dealing arrangements


 

Details of any agreement, arrangement or understanding, formal or informal, between the person 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

 

 

(c)

Attachments


 

Is a supplemental Form 8 (Open Positions) attached?

 

Yes

 

 

Date of Disclosure:

 

     02/10/2024

Contact Name

 

     Compliance Control Room

Telephone Number:

 

     0207 595 9695

 

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 disclosure requirements on +44 (0)20 7638 0129.


 

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.


 

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk




DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS,

AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

 

1.

KEY INFORMATION


 

 Full name of person making disclosure:

 

BNP Paribas SA

 Name of offeror/offeree in relation to whose

 relevant securities the disclosure relates:

International Paper Company

 

2.

STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)


 

Class of

relevant

security

Product

description

e.g. call

option

Written or

purchased

Number of

securities

to which

option or

derivative

relates

Exercise

price

per unit

Type

e.g.

American,

European

etc.

Expiry

date

common stock (US4601461035)

Unknown

W

-543300

49.21

european

13/10/2025

common stock (US4601461035)

Put Option

W

52900

22.5

american

17/01/2025

common stock (US4601461035)

Unknown

W

-543300

49.21

european

15/10/2025

common stock (US4601461035)

Unknown

W

333300

49.21

european

15/10/2025

common stock (US4601461035)

Unknown

W

-543500

49.21

european

14/10/2025

common stock (US4601461035)

Unknown

W

333400

49.21

european

14/10/2025

common stock (US4601461035)

Call Option

P

24900

49.21

american

17/01/2025

common stock (US4601461035)

Call Option

P

50000

45

american

17/01/2025

common stock (US4601461035)

Call Option

P

20000

45

american

16/01/2026

common stock (US4601461035)

Call Option

P

175000

48.85

american

18/10/2024

common stock (US4601461035)

Call Option

W

-20000

45

american

16/01/2026

common stock (US4601461035)

Call Option

W

-50000

45

american

17/01/2025

common stock (US4601461035)

Call Option

W

-89300

49.21

american

20/06/2025

common stock (US4601461035)

Call Option

W

-63400

49.21

american

20/06/2025

common stock (US4601461035)

Call Option

W

-36400

49.21

american

20/06/2025

common stock (US4601461035)

Call Option

W

-4900

49.21

american

19/09/2025

common stock (US4601461035)

Call Option

W

-160000

49.21

american

18/10/2024

common stock (US4601461035)

Call Option

W

-50000

49.21

american

17/04/2025

common stock (US4601461035)

Put Option

P

-120000

49.21

american

18/10/2024

common stock (US4601461035)

Put Option

W

50000

49.21

american

20/06/2025

common stock (US4601461035)

Put Option

W

128800

49.21

american

20/06/2025

common stock (US4601461035)

Put Option

W

10300

49.21

american

20/06/2025

common stock (US4601461035)

Put Option

P

-52900

22.5

american

17/01/2025

common stock (US4601461035)

Put Option

W

52900

49.21

american

17/01/2025

common stock (US4601461035)

Put Option

W

200000

49.21

american

16/01/2026

common stock (US4601461035)

Put Option

W

200000

49.21

american

16/01/2026

common stock (US4601461035)

Put Option

W

22300

49.21

american

18/10/2024

common stock (US4601461035)

Put Option

W

50000

49.21

american

17/01/2025

common stock (US4601461035)

Unknown

W

333300

49.21

european

13/10/2025

 

3.

AGREEMENTS TO PURCHASE OR SELL ETC.


 

Full details should be given so that the nature of the interest or position can be fully understood:

 

 

 

 

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.


 

The currency of all prices and other monetary amounts should be stated.


 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.


 

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk


 

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