Source - LSE Regulatory
RNS Number : 1601V
BNP Paribas London
29 January 2025
 

FORM 8.3

 

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

28/01/2025

(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

If YES, specify which:

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:

3,291,753

0.9477

-2,922,181

-0.8413

(2) Cash-settled derivatives:

326,101

0.0939

-5,316,514

-1.5307

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

2,056,500

0.5921

-2,389,100

-0.6879

TOTAL:

5,674,354

1.6337

-10,627,795

-3.0599

 

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

2

58.8800 USD

US4601461035

Purchase

20

58.3400 USD

US4601461035

Purchase

20

58.5900 USD

US4601461035

Purchase

20

58.8200 USD

US4601461035

Purchase

20

59.0100 USD

US4601461035

Purchase

20

59.0500 USD

US4601461035

Purchase

25

59.1200 USD

US4601461035

Purchase

32

59.1200 USD

US4601461035

Purchase

40

58.2800 USD

US4601461035

Purchase

40

59.1100 USD

US4601461035

Purchase

64

59.0469 USD

US4601461035

Purchase

309

59.1200 USD

US4601461035

Purchase

1,323

59.1200 USD

US4601461035

Purchase

1,340

59.1200 USD

US4601461035

Purchase

1,435

59.1200 USD

US4601461035

Purchase

3,500

58.4952 USD

US4601461035

Sale

-642,500

59.1200 USD

US4601461035

Sale

-19,952

59.2000 USD

US4601461035

Sale

-15,307

59.2000 USD

US4601461035

Sale

-9,693

59.2000 USD

US4601461035

Sale

-8,933

59.0000 USD

US4601461035

Sale

-4,022

59.2000 USD

US4601461035

Sale

-3,790

59.2000 USD

US4601461035

Sale

-2,870

59.2000 USD

US4601461035

Sale

-2,800

59.2000 USD

US4601461035

Sale

-2,422

59.0000 USD

US4601461035

Sale

-2,316

59.2000 USD

US4601461035

Sale

-1,998

59.2000 USD

US4601461035

Sale

-1,902

59.2000 USD

US4601461035

Sale

-1,855

59.2000 USD

US4601461035

Sale

-1,795

59.0000 USD

US4601461035

Sale

-1,632

59.1200 USD

US4601461035

Sale

-1,348

59.0000 USD

US4601461035

Sale

-1,325

59.0000 USD

US4601461035

Sale

-1,323

59.1200 USD

US4601461035

Sale

-1,263

59.2000 USD

US4601461035

Sale

-1,161

59.2000 USD

US4601461035

Sale

-1,041

59.0000 USD

US4601461035

Sale

-964

59.2000 USD

US4601461035

Sale

-916

59.2000 USD

US4601461035

Sale

-764

59.0000 USD

US4601461035

Sale

-700

59.0200 USD

US4601461035

Sale

-629

59.2000 USD

US4601461035

Sale

-514

59.2000 USD

US4601461035

Sale

-476

59.2000 USD

US4601461035

Sale

-419

59.2000 USD

US4601461035

Sale

-357

59.2000 USD

US4601461035

Sale

-327

59.0000 USD

US4601461035

Sale

-317

59.1200 USD

US4601461035

Sale

-310

59.0000 USD

US4601461035

Sale

-300

59.2000 USD

US4601461035

Sale

-292

59.2000 USD

US4601461035

Sale

-274

59.1200 USD

US4601461035

Sale

-268

59.2000 USD

US4601461035

Sale

-238

59.0000 USD

US4601461035

Sale

-238

59.2000 USD

US4601461035

Sale

-200

59.0000 USD

US4601461035

Sale

-200

59.0550 USD

US4601461035

Sale

-200

59.2000 USD

US4601461035

Sale

-200

59.2000 USD

US4601461035

Sale

-200

59.2000 USD

US4601461035

Sale

-200

59.2000 USD

US4601461035

Sale

-200

59.3350 USD

US4601461035

Sale

-183

59.0000 USD

US4601461035

Sale

-178

59.2000 USD

US4601461035

Sale

-171

59.1200 USD

US4601461035

Sale

-164

59.2000 USD

US4601461035

Sale

-157

59.0300 USD

US4601461035

Sale

-157

59.2000 USD

US4601461035

Sale

-157

59.2500 USD

US4601461035

Sale

-157

59.3000 USD

US4601461035

Sale

-123

59.2000 USD

US4601461035

Sale

-123

59.2000 USD

US4601461035

Sale

-121

59.2000 USD

US4601461035

Sale

-119

59.2000 USD

US4601461035

Sale

-119

59.2000 USD

US4601461035

Sale

-119

59.2000 USD

US4601461035

Sale

-119

59.2000 USD

US4601461035

Sale

-119

59.2000 USD

US4601461035

Sale

-111

59.2000 USD

US4601461035

Sale

-100

59.0000 USD

US4601461035

Sale

-100

59.0000 USD

US4601461035

Sale

-100

59.0400 USD

US4601461035

Sale

-100

59.2000 USD

US4601461035

Sale

-100

59.2000 USD

US4601461035

Sale

-100

59.2000 USD

US4601461035

Sale

-100

59.2000 USD

US4601461035

Sale

-100

59.2000 USD

US4601461035

Sale

-100

59.2000 USD

US4601461035

Sale

-100

59.2400 USD

US4601461035

Sale

-100

59.2400 USD

US4601461035

Sale

-100

59.2400 USD

US4601461035

Sale

-100

59.2400 USD

US4601461035

Sale

-100

59.2500 USD

US4601461035

Sale

-100

59.2850 USD

US4601461035

Sale

-100

59.2900 USD

US4601461035

Sale

-91

59.0000 USD

US4601461035

Sale

-90

59.2000 USD

US4601461035

Sale

-84

59.0300 USD

US4601461035

Sale

-82

59.2000 USD

US4601461035

Sale

-82

59.2000 USD

US4601461035

Sale

-82

59.2000 USD

US4601461035

Sale

-77

59.2000 USD

US4601461035

Sale

-77

59.2000 USD

US4601461035

Sale

-70

59.2000 USD

US4601461035

Sale

-66

59.0000 USD

US4601461035

Sale

-49

59.2000 USD

US4601461035

Sale

-46

59.0000 USD

US4601461035

Sale

-46

59.0000 USD

US4601461035

Sale

-40

58.2600 USD

US4601461035

Sale

-40

58.2600 USD

US4601461035

Sale

-40

58.2600 USD

US4601461035

Sale

-40

58.2600 USD

US4601461035

Sale

-40

58.2600 USD

US4601461035

Sale

-40

58.2600 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-40

58.2850 USD

US4601461035

Sale

-38

59.0000 USD

US4601461035

Sale

-38

59.0000 USD

US4601461035

Sale

-38

59.2000 USD

US4601461035

Sale

-37

58.2600 USD

US4601461035

Sale

-34

59.2000 USD

US4601461035

Sale

-32

58.2850 USD

US4601461035

Sale

-32

58.2850 USD

US4601461035

Sale

-28

58.2850 USD

US4601461035

Sale

-28

58.2850 USD

US4601461035

Sale

-22

59.0000 USD

US4601461035

Sale

-20

58.2600 USD

US4601461035

Sale

-20

58.2600 USD

US4601461035

Sale

-20

58.2700 USD

US4601461035

Sale

-20

58.2850 USD

US4601461035

Sale

-20

58.2850 USD

US4601461035

Sale

-20

58.2850 USD

US4601461035

Sale

-20

58.2850 USD

US4601461035

Sale

-20

59.0000 USD

US4601461035

Sale

-20

59.0000 USD

US4601461035

Sale

-20

59.0100 USD

US4601461035

Sale

-20

59.0300 USD

US4601461035

Sale

-20

59.2000 USD

US4601461035

Sale

-18

59.0200 USD

US4601461035

Sale

-12

58.2850 USD

US4601461035

Sale

-12

58.2850 USD

US4601461035

Sale

-10

59.2000 USD

US4601461035

Sale

-10

59.2000 USD

US4601461035

Sale

-8

58.2850 USD

US4601461035

Sale

-8

58.2850 USD

US4601461035

Sale

-7

59.0000 USD

US4601461035

Sale

-5

59.0000 USD

US4601461035

Sale

-4

58.5050 USD

US4601461035

Sale

-3

59.2000 USD

US4601461035

Sale

-2

58.2600 USD

US4601461035

Sale

-2

58.2800 USD

US4601461035

Sale

-1

58.2600 USD

US4601461035

Sale

-1

59.0000 USD

US4601461035

Sale

-1

59.2100 USD

US4601461035

Sale

-1

59.2100 USD

US4601461035

Sale

-1

59.2600 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 reference securities

Price per unit

US4601461035

Contract for Difference

Increasing Long Position

317

59.1200

US4601461035

Contract for Difference

Reducing Long Position

-3,500

59.1200

 

(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









 

(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)        Agreements, arrangements or understandings relating to options or derivatives

 

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:

29/01/2025

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)

Call Option

W

-165000

59.12

american

18/07/2025

common stock (US4601461035)

Put Option

W

333400

59.12

european

14/10/2025

common stock (US4601461035)

Call Option

W

-88200

59.12

american

19/09/2025

common stock (US4601461035)

Call Option

W

-83700

59.12

american

20/06/2025

common stock (US4601461035)

Call Option

W

-76800

59.12

american

17/04/2025

common stock (US4601461035)

Call Option

W

-63400

59.12

american

20/06/2025

common stock (US4601461035)

Call Option

W

-53000

59.12

american

17/04/2025

common stock (US4601461035)

Call Option

W

-50000

59.12

american

19/09/2025

common stock (US4601461035)

Call Option

W

-49700

59.12

american

17/10/2025

common stock (US4601461035)

Call Option

W

-25000

59.12

american

17/10/2025

common stock (US4601461035)

Call Option

W

-8800

59.12

american

20/06/2025

common stock (US4601461035)

Call Option

W

-4900

59.12

american

19/09/2025

common stock (US4601461035)

Call Option

W

-1200

59.12

american

16/01/2026

common stock (US4601461035)

Put Option

W

2600

59.12

american

17/04/2025

common stock (US4601461035)

Put Option

W

3000

59.12

american

17/04/2025

common stock (US4601461035)

Put Option

W

10300

59.12

american

20/06/2025

common stock (US4601461035)

Put Option

W

24500

59.12

american

19/09/2025

common stock (US4601461035)

Put Option

W

26900

59.12

american

17/10/2025

common stock (US4601461035)

Put Option

W

30000

59.12

american

17/04/2025

common stock (US4601461035)

Put Option

W

50000

59.12

american

20/06/2025

common stock (US4601461035)

Put Option

W

75000

59.12

american

17/04/2025

common stock (US4601461035)

Put Option

W

85400

59.12

american

19/09/2025

common stock (US4601461035)

Put Option

W

128800

59.12

american

20/06/2025

common stock (US4601461035)

Put Option

W

165000

59.12

american

18/07/2025

common stock (US4601461035)

Put Option

W

200000

59.12

american

16/01/2026

common stock (US4601461035)

Put Option

W

255000

59.12

american

16/01/2026

common stock (US4601461035)

Put Option

W

-543500

59.12

european

14/10/2025

common stock (US4601461035)

Put Option

W

-543300

59.12

european

13/10/2025

common stock (US4601461035)

Put Option

W

-543300

59.12

european

15/10/2025

common stock (US4601461035)

Call Option

W

333300

59.12

european

13/10/2025

common stock (US4601461035)

Call Option

W

333300

59.12

european

15/10/2025

common stock (US4601461035)

Call Option

W

-89300

59.12

american

20/06/2025

 

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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