RE: Sale of IDS20 Dec 2024 09:39
What happens if shareholders reject the offer? How many would need to reject it for it to be
knocked back?
• The offer needs to be accepted by not less than 75% of the voting shares in IDS and shares
already held by the bidder (around 27% of IDS shares) count towards this acceptance threshold.
• If the company were to delist, any remaining shareholders would be ‘minority’ shareholders and
would need to trade their shares privately in the future.
• The bidder has confirmed that, if it receives acceptances in respect of 90% or more of the shares
not held by Vesa (an affiliate of EP Group), it plans to compulsory purchase the remaining 10% of
the company shares as it is able to do as a matter of law.