On 26 June 2024, Bidco published the Offer Document and a Form of Acceptance to the Qualifying Certificated Shareholders, see the Key Documents section on this page.
The Offer closed for acceptances at 5.00pm on 11 June 2025. If your form of acceptance has not been received by this time, your IDS Shares will be compulsory purchased by Bidco. For further information, please read below.
Compulsory Acquisition
On 28 May 2025, Bidco announced that, as at 3.00 p.m. on 27 May 2025, it had received valid acceptances under the Offer in respect of a total of 631,515,875 IDS Shares representing approximately 90.15% of the IDS Shares to which the Offer relates and the voting rights carried by those IDS Shares. Bidco is therefore exercising its statutory right to compulsorily acquire the remaining IDS Shares in respect of which the Offer has not been accepted and formal compulsory acquisition notices under sections 979 and 980 of the Companies Act (“Compulsory Acquisition Notices”) were issued on 6 June 2025 to all IDS Shareholders who have not yet accepted the Offer (the “Non-Assenting Shareholders”).
Unless a Non-Assenting Shareholder has made an application to the Court within six weeks from the date the Compulsory Acquisition Notices are deemed to have been received (i.e. 22 July 2025) and/or the Court orders otherwise, the IDS Shares held by those IDS Shareholders who have not accepted the Offer by 5:00 p.m. on 11 June 2025 will be acquired compulsorily by Bidco on the same terms as the Offer (i.e. 360 pence per IDS Share).
Offer Proceeds
Once the compulsory acquisition process is complete, IDS will arrange to write to you to explain how you can obtain your cash proceeds. The compulsory acquisition process is expected to complete no earlier than 22 July 2025.
Ordinary shareholders who accepted the Offer before 5.00pm on 11 June 2025 will receive their cash consideration (360p per IDS Share) within 14 days of their acceptance being received.
If you have any questions, feel free to contact us.
+44 (0) 333 207 6505
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Publication and posting of documents
Timetable paused subject to regulatory clearances that remained outstanding
Record date for 2p 2024 Final Dividend
2p final dividend paid to shareholders
Announcement made confirming timetable has resumed – Day 32
Compulsory Acquisition and closure of Offer date Announcement made
Offer closes for acceptances
Long Stop Date in relation to the Acquisition
Date the compulsory acquisition process is expected to complete