20241219_DS SMITH PLC_8.5 EPT RI_UK_MLI

20 December 2024, 10:33

Source - LSE Regulatory

RNS Number : 9482Q

Bank of America Merrill Lynch

20 December 2024

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 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:

19/12/2024

(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/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
10p ordinary	Purchase	610,275	5.37 GBP	5.29 GBP
10p ordinary	Sale	290,152	5.37 GBP	5.28 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	Swaps - Equity Swaps	Reducing a Short Position	1,284	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	3,175	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	61	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	97	5.307 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	108,217	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Closing a Long Position	1,966	5.316 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	1,488	5.316 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	202	5.316 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	1,186	5.316 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	769	5.316 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	4,122	5.316 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	697	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,220	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2,483	5.308 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,748	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,852	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	3,608	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	4,111	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,378	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	398	5.33 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,153	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	7,213	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,090	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	8,181	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	62	5.337 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	8,900	5.319 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	6,761	5.36 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	366	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,207	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	38	5.337 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	544	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	421	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	5,094	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	5,609	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	10,106	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	254	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	287	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,554	5.308 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	6,126	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	291	5.33 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	3,606	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	799	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2,746	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	62	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	154	5.33 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	155	5.307 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2,383	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	584	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	4,643	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	614	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	8,721	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	86	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	5,475	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	523	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,203	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	410	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2,781	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2,017	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	936	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	4,509	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Opening a Long Position	6,433	5.347 GBP
10p ordinary	Swaps - Equity Swaps	Opening a Short Position	24,174	5.309 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,371	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	6,439	5.347 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Long Position	2,083	5.338 GBP
10p ordinary	Swaps - Equity Swaps	Increasing a Short Position	337,872	5.322 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	168	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	3,316	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	221	5.33 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	495	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	881	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	3,718	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	830	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	5,093	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	432	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	25	5.337 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	3,070	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	995	5.308 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,525	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	349	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	3,628	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	522	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,224	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	63	5.307 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	185	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	235	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,245	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,440	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	409	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2,024	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,122	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2	5.307 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	154	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	73	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	6	5.33 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	161	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	411	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	56	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	63	5.33 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	17	5.307 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	10	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	310	5.308 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	50	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	386	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	40	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	675	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	473	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	194	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	10	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	8	5.337 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	447	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	256	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	675	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	1,211	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	5,725	5.312 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	557	5.336 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	2,381	5.325 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	168	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	807	5.313 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	108	5.37 GBP
10p ordinary	Swaps - Equity Swaps	Reducing a Short Position	54	5.33 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
N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

(ii)

Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise Price per unit
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 e.g. subscription, conversion	Details	Price per unit (if applicable)
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:	20/12/2024
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.

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 rns@lseg.com or visit www.rns.com.

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END

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