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2 May 2025 12:00
International Distribution Services plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: IDS
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
2 May 2025
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility
On 29 May 2024, the boards of International Distribution Services plc (the "Company") and EP UK Bidco Limited ("Bidco") announced they had agreed the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of the Company other than the shares owned or controlled by VESA Equity Investment S.à r.l. (the "Offer"). The Offer document was published on 26 June 2024.
On 30 April 2025, Bidco announced that the Offer had become unconditional.
As a result of the Offer becoming unconditional, all outstanding conditional awards over ordinary shares in the capital of the Company of £0.01 each granted under the Company's Long Term Incentive Plan ("LTIP") and Deferred Share Bonus Plan ("DBSP") vested to Persons Discharging Managerial Responsibility ("PDMRs").
LTIP: The LTIP is designed to incentivise PDMRs to deliver the key long-term priorities relevant for their role, aligned to shareholder and stakeholder interests. LTIP awards were granted in 2022, 2023 and 2024.
DSBP: The rules of the Company's annual bonus scheme, known as the Short-Term Incentive Plan, require participants to defer a third of their earned bonus into shares. The vested DSBP awards therefore relate to bonus awards made in 2022, 2023 and 2024.
The treatment of the LTIP and DSBP awards in the event of the Offer becoming unconditional was set out in the Co-Operation Agreement agreed between the Company and Bidco dated 29 May 2024. No new LTIP or DSBP awards were granted to PDMRs as a consequence of the Offer.
The below notifications, made in accordance with the requirements of the UK Market Abuse Regulation, give further detail.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Martin Seidenberg
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group Chief Executive Officer | ||||
b)
| Initial notification/Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| International Distribution Services plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of £0.01 each in International Distribution Services plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Vesting of conditional awards granted on 1 September 2022, 31 July 2023 and 4 June 2024 under the International Distribution Services plc Long Term Incentive Plan, and associated dividend equivalent shares. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
| ||||
e)
| Date of the transaction
| 30 April 2025
| ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Michael Snape
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group Chief Financial Officer | ||||
b)
| Initial notification/Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| International Distribution Services plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of £0.01 each in International Distribution Services plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Vesting of conditional awards granted on 9 February 2024 and 4 June 2024 under the International Distribution Services plc Long Term Incentive Plan, and associated dividend equivalent shares.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
| ||||
e)
| Date of the transaction
| 30 April 2025
| ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Martin Seidenberg
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group Chief Executive Officer | ||||
b)
| Initial notification/Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| International Distribution Services plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of £0.01 each in International Distribution Services plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Vesting of conditional awards granted on 28 July 2022, 31 July 2023 and 4 June 2024 under the International Distribution Services plc Deferred Share Bonus Plan 2016.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
| ||||
e)
| Date of the transaction
| 30 April 2025
| ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Michael Snape
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group Chief Financial Officer | ||||
b)
| Initial notification/Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| International Distribution Services plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of £0.01 each in International Distribution Services plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Vesting of conditional awards granted on 4 June 2024 under the International Distribution Services plc Deferred Share Bonus Plan 2016.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
| ||||
e)
| Date of the transaction
| 30 April 2025
| ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
Enquiries:
Investor Relations
Email: investorrelations@ids-plc.com
Media Relations
Jenny Hall
Phone: 07776 993036
Email: jenny.hall@ids-plc.com
Greg Sage
Phone: 07483 421374
Email: greg.sage@ids-plc.com
Press office: pressoffice@ids-plc.com
Company Secretary
Matthew Newman
Email: cosec@ids-plc.com
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