The Vanguard Group, Inc. Discloses Position in Smith (DS) plc

The Vanguard Group, Inc. issued a statement on February 27, 2024 regarding its significant position in Smith (DS) plc, pursuant to Rule 8.3 of the Tender Offer Code (the "Code"). This follows an acquisition of additional securities, reflecting a total holding of 62,077,306 ordinary shares of 10p, or 4.51% of the rights. Additionally, the company also reported an interest in Mondi plc as part of the same announcement.

This disclosure follows purchases of 90,634 ordinary shares at a unit price of GBP 3.18 on February 26, 2024. The Vanguard Group, Inc. emphasizes that it does not hold any option agreements, orders or arrangements that could be an inducement to trade or to refrain from negotiating. No other forms of derivatives have been reported, pointing to a direct equity investment strategy.

This announcement is a clear indication of The Vanguard Group, Inc.'s growing interest in significant stakes in listed companies, illustrating a potentially broader investment strategy within the UK market. Such a statement highlights the importance of institutional investors disclosing their positions in accordance with market regulations.