VESA: National Security and Investment Act 2021Source: RNS
International Distributions Services plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: IDS
31 October 2022
INTERNATIONAL DISTRIBUTIONS SERVICES plc (the "Company")
VESA EQUITY INVESTMENT S.à r.l. ("VESA")
National Security and Investment Act 2021 ("NSI Act") - Update
On 25 August 2022, the Company announced (whilst still named Royal Mail plc) that it had received notification from the Secretary of State for Business, Energy and Industrial Strategy ("Secretary of State") that he reasonably suspected that arrangements were in progress or contemplation which, if carried into effect, would result in VESA increasing its shareholding in the Company from 25% or less to more than 25% and that he was exercising his call-in power under section 1 of the NSI Act.
The Company has now been notified by the Secretary of State that no further action is to be taken under the NSI Act in relation to the potential increase by VESA of its shareholding in the Company to more than 25%.
VESA's most recent notification to the Company in relation to its holding, as disclosed to the market on 19 July 2022, indicated that VESA held just over 22% of the total voting rights in the Company at that time.
Royal Mail investor relations line: 020 7449 8183
Phone: 07483 421374
Royal Mail press office: email@example.com