BNP Paribas

Major Shareholding Notification • Mar 18, 2025

National Storage Mechanism | Additional information

RNS Number : 1620B

BNP Paribas London

18 March 2025

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS

(OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1.	KEY INFORMATION

(a)  Name of exempt principal trader:	BNP Paribas SA
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:        Use a separate form for each offeror/offeree	Spirent Communications plc
(c)  Name of the party to the offer with which exempt principal trader is connected:	Keysight Technologies Inc.
(d)  Date position held/dealing undertaken:        For an opening position disclosure, state the latest practicable date prior to the disclosure	17/03/2025
(e)  In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer?        If it is a cash offer or possible cash offer, state "N/A"	No:

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(b), 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:	GB0004726096 (3 1/3p ordinary)

	Interests	Short Positions

	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0		0
(2) Cash-settled derivatives:	0	.00	-25,840,736	-4.45
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0		0
TOTAL:	0	.00	-25,840,736	-4.45

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 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/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received

(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
GB0004726096	Contract for Difference	Closing Short Position	11,920	1.8830
GB0004726096	Contract for Difference	Closing Short Position	76	1.8830
GB0004726096	Contract for Difference	Increasing Short Position	-2,045	1.8830
GB0004726096	Contract for Difference	Increasing Short Position	-3,096	1.8830
GB0004726096	Contract for Difference	Increasing Short Position	-11,057	1.8830
GB0004726096	Contract for Difference	Increasing Short Position	-2,490	1.8830
GB0004726096	Contract for Difference	Reducing Short Position	40,061	1.8830
GB0004726096	Contract for Difference	Reducing Short Position	12,585	1.8830
GB0004726096	Contract for Difference	Reducing Short Position	3,504	1.8830
GB0004726096	Contract for Difference	Reducing Short Position	6,892	1.8830 GBP
GB0004726096	Contract for Difference	Reducing Short Position	630	1.8830
GB0004726096	Contract for Difference	Reducing Short Position	4,114	1.8830

(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 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 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?	No

Date of Disclosure:	18/03/2025
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.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

FEOXVLFFEXLFBBD