BNP Paribas

Major Shareholding Notification • Dec 23, 2024

National Storage Mechanism | Additional information

RNS Number : 1485R

BNP Paribas London

23 December 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	20/12/2024
(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:	3,874,496	1.12	-3,151,318	-.91
(2) Cash-settled derivatives:	949,372	.27	-5,426,519	-1.56
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,958,700	.56	-2,443,200	-.70
TOTAL:	6,782,568	1.95	-11,021,037	-3.17

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	1	54.1850 USD
US4601461035	Purchase	1	54.2000 USD
US4601461035	Purchase	1	54.2000 USD
US4601461035	Purchase	1	54.2050 USD
US4601461035	Purchase	1	54.2050 USD
US4601461035	Purchase	1	54.2050 USD
US4601461035	Purchase	1	54.2100 USD
US4601461035	Purchase	1	54.2100 USD
US4601461035	Purchase	1	54.2100 USD
US4601461035	Purchase	1	54.2100 USD
US4601461035	Purchase	1	54.2200 USD
US4601461035	Purchase	2	54.1700 USD
US4601461035	Purchase	2	54.2100 USD
US4601461035	Purchase	4	54.1950 USD
US4601461035	Purchase	4	54.4500 USD
US4601461035	Purchase	16	54.4500 USD
US4601461035	Purchase	18	54.2050 USD
US4601461035	Purchase	28	54.2100 USD
US4601461035	Purchase	32	54.1850 USD
US4601461035	Purchase	34	54.4500 USD
US4601461035	Purchase	34	54.4500 USD
US4601461035	Purchase	39	54.2200 USD
US4601461035	Purchase	39	54.2200 USD
US4601461035	Purchase	40	54.1850 USD
US4601461035	Purchase	206	53.8700 USD
US4601461035	Purchase	391	53.8700 USD
US4601461035	Purchase	395	53.8700 USD
US4601461035	Purchase	403	53.8700 USD
US4601461035	Purchase	407	53.8700 USD
US4601461035	Purchase	408	54.4500 USD
US4601461035	Purchase	411	53.8700 USD
US4601461035	Purchase	411	53.8700 USD
US4601461035	Purchase	415	53.8700 USD
US4601461035	Purchase	419	53.8700 USD
US4601461035	Purchase	419	53.8700 USD
US4601461035	Purchase	1,602	54.4500 USD
US4601461035	Purchase	1,612	53.8700 USD
US4601461035	Purchase	2,000	53.9851 USD
US4601461035	Purchase	2,053	53.8700 USD
US4601461035	Purchase	2,147	53.8700 USD
US4601461035	Purchase	3,087	53.8700 USD
US4601461035	Purchase	3,087	53.8700 USD
US4601461035	Purchase	4,080	54.4500 USD
US4601461035	Purchase	4,488	54.4500 USD
US4601461035	Purchase	4,896	54.4500 USD
US4601461035	Purchase	6,970	54.4500 USD
US4601461035	Purchase	6,970	54.4500 USD
US4601461035	Purchase	7,064	53.8700 USD
US4601461035	Purchase	8,160	54.4500 USD
US4601461035	Purchase	8,779	54.4500 USD
US4601461035	Purchase	11,663	53.8700 USD
US4601461035	Purchase	12,411	54.4500 USD
US4601461035	Sale	-19,992	54.4500 USD
US4601461035	Sale	-19,518	53.8700 USD
US4601461035	Sale	-14,013	54.4500 USD
US4601461035	Sale	-13,800	53.8255 USD
US4601461035	Sale	-12,411	54.4500 USD
US4601461035	Sale	-8,976	54.4500 USD
US4601461035	Sale	-7,064	53.8700 USD
US4601461035	Sale	-6,970	54.4500 USD
US4601461035	Sale	-5,701	53.8700 USD
US4601461035	Sale	-5,208	54.4500 USD
US4601461035	Sale	-4,488	54.4500 USD
US4601461035	Sale	-4,450	53.8700 USD
US4601461035	Sale	-4,080	54.4500 USD
US4601461035	Sale	-3,193	53.8700 USD
US4601461035	Sale	-2,147	53.8700 USD
US4601461035	Sale	-2,053	53.8700 USD
US4601461035	Sale	-1,980	54.4500 USD
US4601461035	Sale	-1,739	53.8700 USD
US4601461035	Sale	-1,666	53.8700 USD
US4601461035	Sale	-1,300	53.8700 USD
US4601461035	Sale	-1,289	53.8700 USD
US4601461035	Sale	-1,280	53.8700 USD
US4601461035	Sale	-1,152	53.8700 USD
US4601461035	Sale	-1,028	53.8700 USD
US4601461035	Sale	-990	53.8700 USD
US4601461035	Sale	-600	53.8700 USD
US4601461035	Sale	-557	53.8700 USD
US4601461035	Sale	-546	53.8700 USD
US4601461035	Sale	-500	53.8700 USD
US4601461035	Sale	-429	53.8700 USD
US4601461035	Sale	-408	54.4500 USD
US4601461035	Sale	-300	53.8700 USD
US4601461035	Sale	-251	53.8700 USD
US4601461035	Sale	-227	54.3109 USD
US4601461035	Sale	-195	53.8700 USD
US4601461035	Sale	-150	53.8700 USD
US4601461035	Sale	-80	54.2100 USD
US4601461035	Sale	-80	54.2150 USD
US4601461035	Sale	-60	54.4500 USD
US4601461035	Sale	-58	53.8700 USD
US4601461035	Sale	-46	54.4500 USD
US4601461035	Sale	-40	54.2000 USD
US4601461035	Sale	-40	54.2000 USD
US4601461035	Sale	-40	54.2000 USD
US4601461035	Sale	-40	54.2000 USD
US4601461035	Sale	-40	54.2100 USD
US4601461035	Sale	-40	54.2100 USD
US4601461035	Sale	-40	54.2100 USD
US4601461035	Sale	-40	54.2100 USD
US4601461035	Sale	-40	54.2100 USD
US4601461035	Sale	-40	54.2150 USD
US4601461035	Sale	-40	54.2200 USD
US4601461035	Sale	-35	54.2100 USD
US4601461035	Sale	-34	54.2000 USD
US4601461035	Sale	-34	54.4500 USD
US4601461035	Sale	-34	54.4500 USD
US4601461035	Sale	-30	54.2000 USD
US4601461035	Sale	-30	54.2150 USD
US4601461035	Sale	-30	54.2150 USD
US4601461035	Sale	-28	54.0400 USD
US4601461035	Sale	-28	54.4500 USD
US4601461035	Sale	-21	53.8700 USD
US4601461035	Sale	-17	54.0500 USD
US4601461035	Sale	-14	54.0100 USD
US4601461035	Sale	-13	54.0100 USD
US4601461035	Sale	-10	53.8700 USD
US4601461035	Sale	-10	54.2000 USD
US4601461035	Sale	-10	54.2150 USD
US4601461035	Sale	-10	54.2150 USD
US4601461035	Sale	-10	54.2300 USD
US4601461035	Sale	-9	54.4500 USD
US4601461035	Sale	-8	54.4500 USD
US4601461035	Sale	-5	54.0400 USD
US4601461035	Sale	-5	54.2000 USD
US4601461035	Sale	-5	54.2100 USD
US4601461035	Sale	-4	54.0400 USD
US4601461035	Sale	-3	54.0100 USD
US4601461035	Sale	-3	54.0400 USD
US4601461035	Sale	-2	54.0400 USD
US4601461035	Sale	-2	54.0400 USD
US4601461035	Sale	-1	53.8700 USD
US4601461035	Sale	-1	53.8700 USD
US4601461035	Sale	-1	53.8700 USD
US4601461035	Sale	-1	54.0100 USD
US4601461035	Sale	-1	54.0100 USD
US4601461035	Sale	-1	54.0100 USD
US4601461035	Sale	-1	54.0400 USD
US4601461035	Sale	-1	54.0400 USD
US4601461035	Sale	-1	54.0400 USD
US4601461035	Sale	-1	54.0400 USD
US4601461035	Sale	-1	54.2000 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	Increasing Long Position	1,275	54.4500 USD
US4601461035	Contract for Difference	Increasing Long Position	705	54.4500
US4601461035	Contract for Difference	Reducing Long Position	-2,000	54.4500
US4601461035	Contract for Difference	Reducing Short Position	13,800	54.4500 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

(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:	23/12/2024
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)	Call Option	P	24900	54.45	american	17/01/2025
common stock (US4601461035)	Unknown	W	333400	54.45	european	14/10/2025
common stock (US4601461035)	Call Option	W	-89300	54.45	american	20/06/2025
common stock (US4601461035)	Call Option	W	-88200	54.45	american	19/09/2025
common stock (US4601461035)	Call Option	W	-83700	54.45	american	20/06/2025
common stock (US4601461035)	Call Option	W	-63400	54.45	american	20/06/2025
common stock (US4601461035)	Call Option	W	-58200	54.45	american	17/04/2025
common stock (US4601461035)	Call Option	W	-50000	54.45	american	17/04/2025
common stock (US4601461035)	Call Option	W	-50000	54.45	american	19/09/2025
common stock (US4601461035)	Call Option	W	-49700	54.45	american	17/10/2025
common stock (US4601461035)	Call Option	W	-45000	54.45	american	17/01/2025
common stock (US4601461035)	Call Option	W	-25000	54.45	american	17/10/2025
common stock (US4601461035)	Call Option	W	-8800	54.45	american	20/06/2025
common stock (US4601461035)	Call Option	W	-4900	54.45	american	19/09/2025
common stock (US4601461035)	Put Option	W	10300	54.45	american	20/06/2025
common stock (US4601461035)	Put Option	W	24500	54.45	american	19/09/2025
common stock (US4601461035)	Put Option	W	26900	54.45	american	17/10/2025
common stock (US4601461035)	Put Option	W	30000	54.45	american	17/04/2025
common stock (US4601461035)	Put Option	W	50000	54.45	american	17/01/2025
common stock (US4601461035)	Put Option	W	50000	54.45	american	20/06/2025
common stock (US4601461035)	Put Option	W	52900	54.45	american	17/01/2025
common stock (US4601461035)	Put Option	W	75000	54.45	american	17/04/2025
common stock (US4601461035)	Put Option	W	85400	54.45	american	19/09/2025
common stock (US4601461035)	Put Option	W	128800	54.45	american	20/06/2025
common stock (US4601461035)	Put Option	W	200000	54.45	american	16/01/2026
common stock (US4601461035)	Unknown	W	-543500	54.45	european	14/10/2025
common stock (US4601461035)	Unknown	W	-543300	54.45	european	13/10/2025
common stock (US4601461035)	Unknown	W	-543300	54.45	european	15/10/2025
common stock (US4601461035)	Unknown	W	333300	54.45	european	13/10/2025
common stock (US4601461035)	Unknown	W	333300	54.45	european	15/10/2025
common stock (US4601461035)	Call Option	W	-151900	54.45	american	17/01/2025

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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