Royal Mail Share Incentive Plan
The Offer closed for acceptance in respect of IDS Shares held through the Royal Mail Share Incentive Scheme (“SIP”) at 1.00pm on 6 June 2025. If the Trustee had not received your acceptance instruction by this time, your IDS Shares will be compulsory purchased by Bidco. For further information, including how you will receive your cash proceeds, please read below.
Compulsory Acquisition
Bidco announced on 28 May 2025 that it had received valid acceptances in respect of 631,515,875 IDS Shares, representing approximately 90.15% of the IDS Shares to which the Offer relates and, accordingly, is exercising its statutory right to compulsory acquire the remaining IDS Shares in respect of which the Offer has not been accepted.
Formal compulsory acquisition notices ("Compulsory Acquisition Notices" or "Notices") have been dispatched on 6 June 2025 to IDS Shareholders who have not yet accepted the Offer ("Non-Assenting Shareholders"). As you hold your IDS Shares through the SIP, the SIP Trustee will receive the Compulsory Acquisition Notice on your behalf.
Unless a Non-Assenting Shareholder has applied to Court within 6 weeks from the date the Notices are deemed to be received and/or the Court orders otherwise, IDS Shares held by SIP Participants who had not accepted the Offer by 1.00pm on 6 June will be compulsorily acquired by Bidco on the same terms as the Offer (i.e. 360 pence per IDS Share).
Offer Proceeds
The Trustee will claim your cash proceeds at the earliest opportunity following the conclusion of the Compulsory Acquisition process on 22 July 2025 and will pay the consideration to you.
Frequently Asked Questions
SIP Participants who accepted the Offer prior to 1.00pm on 6 June 2025 will receive their cash consideration (360p per IDS Share) within 3 weeks of their acceptance.
Contact the Shareholder Helpline
If you have any questions, feel free to contact us.
+44 (0) 330 123 0058
Please use the country code when calling from outside the UK. Lines are open 8:30 a.m. to 5:30 p.m. (UK time), Monday to Friday (excluding public holidays in England and Wales).
Key documents
- Offer declared Unconditional (245kb)
- Resumption of Offer Timetable 02 April (131kb)
- Offer Document (1.8mb)
- Trustee Cover Letter (98kb)
- Closure of the Offer and Compulsory Acquisition (114kb)
Key dates
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26 June 2024
Publication and posting of documents
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2 August 2024
Timetable paused subject to regulatory clearances remaining outstanding
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30 September 2024
2p 2024 Final Dividend paid to SIP Trustee
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Within 5 Business Days after the SIP Trustee received the 2p 2024 Final Dividend
2p final dividend paid to IDS SIP Participants
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02 April 2025 Announcement made confirming timetable has resumed – Day 32.
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25 April 2025 IDS SIP Deadline
IDS SIP Participants to submit acceptance instructions by 1.00pm on 25 April 2025 being three business days before the latest date by which the Offer may be declared or become Unconditional in order to receive the cash proceeds at the earliest possible opportunity.
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30 April 2025
- Offer declared Unconditional
- Record Date for 8p Special Dividend (6.00 pm)
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14 May 2025
- 360p cash consideration paid to Trustee in respect of all SIP Participants who have accepted the Offer by 1.00pm on 25 April 2025.
- 8p special dividend to be paid to Trustee for all SIP Participants
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21 May 2025
Within 5 Business Days after the Trustee receives the consideration, funds will be sent to the SIP Participants
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28 May 2025
Compulsory Acquisition and closure of Offer date Announcement made
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1:00 p.m. on 06 June 2025
Offer closes for acceptances for SIP participants
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29 August 2025
Long Stop Date in relation to the Acquisition
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To be confirmed 2025
Compulsory Acquisition process expected to complete