Davidson Kempner Discloses Positions in Smith plc Securities
Key Disclosure from Davidson Kempner Capital Management LP
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE
Rule 8.3 of the Takeover Code
1. KEY INFORMATION
(a) Full name of discloser: Davidson Kempner Capital Management LP
(b) Owner or controller of interests: N/A
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Smith (DS) plc
(d) Exempt fund manager connected with offeror/offeree: N/A
(e) Date position held: 26/09/2024
(f) Is the discloser making disclosures in respect of any other party to the offer? Yes, International Paper Company.
Positions of Davidson Kempner Capital Management LP
(a) Interests and short positions in relevant securities:
Class of relevant security: 10p Ordinary Shares
Interests: Cash-settled derivatives of 18,539,768 shares, representing 1.34% of total shareholdings.
Dealings by Davidson Kempner Capital Management
Purchases and Sales: Details of the securities can be summarized as follows:
Class of relevant security: 10p Ordinary
Purchase/Sale: Opening/Closing Positions
Number of Securities: 32,064
Price per Unit: GBP 4.5700
Nature of Dealing: Reducing and increasing of long positions.
Details of Cash-settled Derivatives
The discloser maintains significant positions in cash-settled derivatives for the 10p Ordinary class. Specific numbers reflect an active engagement in market dynamics.
Handling of Stock-settled Derivatives
No stock-settled derivatives are reported at this time, indicating a preference for cash-settled instruments.
Other Information Regarding Dealings
Davidson Kempner has confirmed no outstanding indemnities or similar arrangements affecting their disclosures. Their dealings show a focused strategy on maximizing returns in the evolving market.
Frequently Asked Questions
What is Form 8.3?
Form 8.3 is a regulatory requirement that mandates disclosures by entities holding 1% or more of relevant securities in a company.
Who is Davidson Kempner Capital Management LP?
Davidson Kempner Capital Management LP is a global investment firm that actively engages in various market sectors, including investment in public equities and other securities.
What positions has Davidson Kempner taken in Smith (DS) plc?
Davidson Kempner has disclosed significant interests in cash-settled derivatives for Smith (DS) plc totaling 18,539,768 shares, equating to 1.34% of their holdings.
What does the engagement with International Paper Company entail?
Davidson Kempner is also making disclosures regarding their interests in International Paper Company, which reflects their diverse investment strategy.
How might these disclosures affect Smith (DS) plc?
Disclosures can impact market perceptions and share valuations, indicating an active interest from significant investors like Davidson Kempner.
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