The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Https://www.telegraph.co.uk/business/2024/05/29/royal-mail-break-up-three-years-after-czech-sphinx-takeover/
Columbia Threadneedle own 5pc according to this article.
This one is a year old but shows a breakdown of owners of the company
https://finance.yahoo.com/news/50-ownership-shares-international-distributions-105549379.html
Https://www.templebarinvestments.co.uk/media/insights/response-offer-ids/
Delisting, cancellation of trading, re-registration and compulsory acquisition
· If the Offer becomes or is declared unconditional and if Bidco has, by virtue of the IDS Shares it holds, if any, and the IDS Shares it has contracted to acquire, whether by way of acceptances of the Offer, the VESA SPA or otherwise, acquired or agreed to acquire issued share capital carrying 75% or more of the voting rights of IDS (or the appropriate special resolutions are otherwise passed), it is intended that Bidco shall procure that IDS makes a request to the FCA to cancel the listing of IDS Shares from the Official List and makes an application to the London Stock Exchange for the cancellation of the admission to trading of IDS Shares on the Main Market.
· If Bidco receives acceptances under the Offer in respect of, and/or otherwise acquires, 90% or more of the IDS Shares to which the Offer relates, Bidco intends to exercise its rights pursuant to the provisions of Chapter 3 of Part 28 of the 2006 Act to acquire compulsorily any IDS Shares not acquired or agreed to be acquired by or on behalf of Bidco pursuant to the Offer or otherwise on the same terms as the Offer.
I did find it interesting that this Nobel prize winner has decided to plagiarise my views. Apparently Nobel prize winners aren’t that high above me afterall
https://www.businessinsider.com/nobel-prize-economist-angus-deaton-rethinks-unions-free-trade-immigration-2024-4?amp
KPMG also known they have to show they weren’t failing to carry out their checks appropriately because vesa will be carrying out their own due diligence before purchase. Last thing KPMG want is to be complicit in cooking the books
The privatisation of the water companies is showing how poor the decision to privatise actually was. I mean, when the bedrock of the whole system, the banks, require public money (communism for the banks, capitalism for everyone else) to stay afloat you know there’s something wrong. Alas, some people are blinkered into believing everything is better in private hands. And venture capitalists are the worst for tax avoidance and asset stripping.
No implications because the company is going bust and there will be no payout to shareholders. If there is a miracle and the company is saved and you sell shares at a profit then capital gains tax
Compulsory strike off is likely due to not submitting accounts or other required documents. They need to submit these documents to prevent the strike off.
Probably nothing in the context of this bid, however should the bid fail and the results are good and show the company is making a profit then I wouldn’t expect the share price to slip back down quite as low it was before.
Of course the only real way to get any political change with regards to companies being asset stripped is for them to be kept in public ownership. And that only happens if people vote for a radical left or Marxist parties. If there’s one lesson I can take from history - only the real threat of radical change will make the centre ground of politics willing to implement changes which benefit the whole of society.
GLS and Royal Mail will be split, Royal Mail will be allowed to fail until changes are made to USO. If no changes are made the company goes into administration with a view to asset stripping. Then the govt comes in and buys Royal Mail, subsidises the company or changes the USO requirements.
At least least 75% approval of shareholders required to takeover https://legalvision.co.uk/business-sale-purchase/compulsory-acquisition-of-shares/
“The parties agree that Royal Mail's name and brand should be protected, and Royal Mail should remain headquartered and tax resident in the United Kingdom.”
Great Royal Mail, the unprofitable part of IDS will remain in the uk for tax. So the rest of the company though will be listing in Ireland or some other tax haven. This board is full of crap.