On 29 May 2024 the boards of directors of EP UK Bidco Limited ('Bidco') and International Distribution Services plc ('IDS') announced that they had reached agreement on the terms and conditions of a recommended cash offer by Bidco for IDS.
Updated 28 May 2025: Following the Offer being declared ‘Unconditional’ on 30 April 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. As contemplated by the Offer Document, Bidco exercised its statutory right under the Companies Act 2006 to compulsorily acquire the remaining IDS Shares in respect of which the Offer has not been accepted.
Please note the Offer has now closed for acceptances.
Updated 23 July 2025: Bidco has now exercised its statutory right under the Companies Act 2006 to compulsorily acquire the remaining IDS Shares in respect of which the Offer had not been accepted.
If you had not accepted the Offer by 5.00 p.m. on 11 June 2025, being the date that the Offer closed for acceptances, Bidco is now entitled and bound to compulsorily acquire Your Shares. Bidco will send the consideration due to you to IDS to hold it on trust for you (under section 981(9) of the Companies Act 2006).
Equiniti Limited, on behalf of IDS will contact you separately to explain how you can obtain the consideration due to you under the Offer in due course.
IDS Shares held with a certificate, usually in an individual's own name but could be in the name of a company.
Learn moreIDS Shares held via Nominee Share Service (operated by the Equiniti Financial Services Limited) on behalf of Retail Shareholders.
In accordance with the Nominee Share Service Terms and Conditions, the Nominee has accepted the Offer in respect of all IDS Shares held through the Nominee Share Service for which it did not receive an acceptance instruction by 1.00pm on 6 June 2025.
The cash proceeds of 360p per IDS Share were paid to Qualifying Participants within 5 days of receipt by the Nominee. The Nominee received the cash proceeds within 14 days of its acceptance.
IDS Shares held via the Royal Mail Share Incentive Plan (operated by the Equiniti Share Plan Trustees Limited) on behalf of IDS Employees.
IDS Shares held by SIP Participants who had not accepted the Offer by 1.00pm on 6 June have been compulsorily acquired by Bidco on the same terms as the Offer (i.e. 360 pence per IDS Share).
The Trustee will claim your cash proceeds at the earliest opportunity following the conclusion of the Compulsory Acquisition process and will pay the consideration to you.