On March 27, 2025, NATIXIS SA issued a regulatory announcement regarding its position in the relevant securities of Spirent Communications plc, aligning with the compliance requirements of Rule 8.3 of the Takeover Code. This disclosure comes as the company positions itself in the financial landscape related to Spirent Communications, a notable player in the communications technology sector.

2. Key Information

Discloser Details

Discloser Name: NATIXIS SA

Date of Position: March 26, 2025

Related Company: Spirent Communications plc

NATIXIS SA has reported its interests in the securities of Spirent Communications, emphasizing its involvement in the ongoing market activities surrounding the company.

3. Positions Held by NATIXIS SA

Relevant Securities

NATIXIS SA has disclosed interests in the following class of relevant securities:

Class of Security: 3 1/3p ordinary shares

Interests Owned:

Number: 10,877,855 shares

Percentage: 1.87%

Short Positions:

Number: 5,245 shares

Percentage: 0.00%

Summary of Positions

The total interest held by NATIXIS SA in Spirent Communications is 10,883,100 shares, which accounts for 1.87% of the company’s relevant securities. The short positions, including cash-settled derivatives, reflect a strategic approach towards managing risks in the investment portfolio.

4. Recent Dealings

Purchases and Sales

On March 26, 2025, NATIXIS SA executed a purchase of:

Class of Security: 3 1/3p ordinary shares

Transaction Type: Purchase

Number of Securities: 1,437,024 shares

Price per Unit: GBX 191.50

The purchase indicates a bullish stance towards Spirent Communications, acquiring a substantial number of shares at a price point that reflects the company’s current valuation in the market.

Cash-Settled Derivative Transactions

In alignment with its purchase, NATIXIS SA also engaged in cash-settled derivative transactions:

Class of Security: 3 1/3p ordinary shares

Transaction Type: Increasing a short position

Number of Reference Securities: 1,437,024 shares

Price per Unit: GBX 191.50

This dual strategy of purchasing shares while simultaneously increasing short positions suggests a nuanced approach to market movements, balancing potential gains against the associated risks.

5. Other Information

Indemnity and Dealing Arrangements

NATIXIS SA has specified that there are no indemnity arrangements or other dealings that could influence its position in the relevant securities of Spirent Communications. This transparency aligns with the regulatory expectations and underscores the integrity of the disclosed positions.

Conclusion

The announcement from NATIXIS SA highlights its significant stake in Spirent Communications, reflecting both confidence in the company's prospects and a strategic management of its investment portfolio through derivative transactions. As the market continues to evolve, stakeholders will be keenly watching how these positions will play out amid Spirent's performance and broader industry trends.

This disclosure serves as a reminder of the dynamic interplay between investment strategies and regulatory compliance in the fast-paced world of financial markets.

Original press release