Form 8.3 – Devro plc

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LONDON, December 21, 2022–(BUSINESS WIRE)–

FORM 8.3

PUBLIC OPENING POSTITION DISCLOSURE/DEALING.

A PERSON WITH INTERESTS in RELEVANTSECURITIES REPRESENTING 1% or MORE

Rule 8.3 (the “Code”) of the Takeover Code

1. KEY INFORMATION

(a) Full name:

Marathon Asset Management Limited

(b) Disclosure of the owner/controller of short positions or interests, if any other than 1(a).

Names of nominees and vehicle companies are not sufficient. The trustee(s), settlor (or beneficiaries) must all be identified for trusts.

(c) Name of offeror/offeree relating to the securities to which this form refers:

You will need a separate form to cover each offeror/offeree

Devro plc

(d) If you are an exempt fund manager and have an offeror/offeree connection, please state that fact and the identity of the offeror/offeree.

(e) Date position held/dealing undertaken:

An opening position disclosure requires that you state the most recent date possible prior to disclosure.

20 December 2022

(f) Are disclosures made by the discloser in respect to any other parties to the offer in addition to the company listed in 1(c), above.

If it’s a cash offer, or a possibility cash offer, indicate “N/A”.

No

2. POSITIONS OF PERSON MAKING THE DISCLOSURE

If there are rights or positions that you wish to disclose in more than one type of relevant securities of offeror or offeree, copy table 2 (a) or b (as applicable) for each additional category of relevant security.

(a) Short positions and interests in the securities of the offeror/offee to whom the disclosure refers following the dealing (if applicable)

Type of security relevant:

Ordinary NPV

Interests

Positions for the short term

Number

%

Number

%

(1) Relevant securities that are owned or controlled by:

11,379,500

6.80%

(2) Cash-settled derivatives:

0

0

(3) Stock-settled options and derivatives (including options), as well as agreements to purchase/sell are all available.

0

0

TOTAL:

11,379,500*

6.80%

* Marathon Asset Management Limited does not have discretion regarding voting decisions in respect of 953,642 shares that are included in the total above.

All short positions and any interests must be disclosed.

On a Supplemental Form 8 (“Open Positions”), you should provide details of any open stock-settled derivative position (including traded options) or agreements to buy or sell relevant securities.

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Subscription right class:

Information, including the nature and percentages of the rights involved:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where dealings have taken place in more than one relevant class of securities of the offeror/offeree mentioned in 1(c), copy tableau 3(a), [b], (c), or (3) (as applicable) for each additional class.

Be sure to mention the currency of all prices as well as other monetary amounts.

(a) Sales and purchases

Security classification

Purchase/sale

Number of securities

Price per unit

Ordinary shares

Sale

11,260

3.0850

Ordinary Shares

Sale

20,553

3.0861

(b) Cash-settled derivative transactions

Security classification

Product description

e.g. CFD

Nature of dealing

e.g. Opening/closing a position that is long/short, or increasing/reducing the length of a position that is long/short

Number of reference securities

Price per unit

(c) Stock-settled derivative transactions, including options

(i) Writing, selling, buying, or varying.

Security classification

Product description e.g. call option

Writing, buying, selling and varying.

How many securities are related to each option

Exercise price per unit

Type

e.g. American, European etc.

Expiry Date

Option money paid/ received per unit

(ii) Exercise

Security classification

Product description

e.g. call option

Exercise/exercise against

Number of securities

Exercise price per unit

(d) Other transactions (including subscribing to new securities)

Security classification

Nature of dealing

e.g. Subscribe, convert

Details

If applicable, price per unit

4. Other Information

(a) Indemnity and other arrangements

Information about any indemnity, option, or agreement, formal or informal, relating the relevant securities that may be an inducement or refrain from trading entered into by the person disclosing and any party or person acting in concert.

You should not include irrevocable commitments or letters of intent. If such arrangements, agreements or understandings are not in place, please state “none”.

None

(b) Agreements, arrangements and understandings regarding options or derivatives

Details of any agreement, arrangement, understanding, formal or informal between the person who made the disclosure and any person concerned about:

(i) Any relevant securities’ voting rights under any option

(ii) Voting rights, future acquisition or disposition of relevant securities to which any derivative refers:

If such arrangements, agreements or understandings are not in place, declare “none”.

None

(c) Attachments

Is there a Supplemental Formula 8 (Open Positions), attached?

NO

Date of disclosure

21 December 2022

Name of the contact:

Kevin Kot

Telephone number*:

0207 497 2211

Public disclosures pursuant to Rule 8 of this Code must be made through 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.

Businesswire.com – View the source version https://www.businesswire.com/news/home/20221221005245/en/

Contacts

Marathon Asset Management Ltd

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