EP Group offer update

As you are aware, IDS plc (“IDS”) is the subject of a takeover offer from EP Group. The offer document was published on 26 June, along with an indicative timeline.

As anticipated, the offer timetable has now been suspended so that regulatory approvals can take place. Once the relevant regulatory approvals have been obtained, the offer timetable will resume. An announcement will be made at that time specifying the new deadline for acceptances.

This suspension aligns with our timetable which you can view here.

You may have also seen media coverage confirming that the government has delivered a call-in notice for review under the National Security and Investment (NSI) Act. This was also anticipated and reflected in the expected timetable for the offer.

The regulatory approvals are expected to take a number of months. Subject to the regulatory approvals, it is currently expected that the transaction will complete in the first quarter of 2025.

The offer will remain open for acceptance throughout the period that the offer timetable is suspended and so you can still take action to accept the offer during this time.

Reminder of how to accept the offer

Shareholders should have received communications about how to accept the offer if they would like to sell their shares, including shares held by employees as part of the Share Incentive Plan.

If you have not already done so, please read the communications carefully and, if you wish to sell your shares, complete the form applicable to your shares as per the instructions sent to you.  If you hold shares in more than one way, for example, through the Share Incentive Plan or via a retail platform, you will have received more than one set of instructions. It is important that you follow each set of instructions carefully and complete all necessary steps in order to accept the offer for all of your different shareholdings.

If you require more time to decide, please keep the communications sent to you in a safe place until you are ready to complete the forms. 

For further information about your individual shareholding, or any questions about the offer document and timetable, as well as how to accept, you can contact a dedicated helpline Equiniti has set up for Royal Mail shareholders: +44 (0)330 123 0058.

Find out more at myroyalmail.com/offerfromepgroup