VESA: National Security and Investment Act 2021 : Simon's/Royal Mail's statement page 3 : 8th Sept

[Clappedoutpostie]

Just released to the stock marked, anyone understand what it all means. Is this why they have allowed this to rumble on?

Thu, 25th Aug 2022 13:15

RNS Number : 2610X
Royal Mail PLC
25 August 2022

Royal Mail plc

(Incorporated in England and Wales)

Company Number: 8680755

LSE Share Code: RMG

ISIN: GB00BDVZYZ77

LEI: 213800TCZZU84G8Z2M70



25 August 2022



Royal Mail plc ("Royal Mail")

VESA EQUITY INVESTMENT S.à r.l. ("VESA"): National Security and Investment Act 2021 ("NSI Act")



Royal Mail has received notification from the Secretary of State for Business, Energy and Industrial Strategy ("Secretary of State") that he reasonably suspects that arrangements are in progress or contemplation which, if carried into effect, will result in VESA increasing its shareholding in Royal Mail from 25% or less to more than 25%.



The Secretary of State has notified Royal Mail that such a step would constitute a trigger event under the NSI Act and that he is exercising his call-in power under section 1 of the NSI Act.



Royal Mail will fully cooperate with this review and a further announcement will be made as and when appropriate.



Vesa's most recent notification to Royal Mail 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 Royal Mail at that time.



Enquiries:



Investor Relations

John Crosse

Email: investorrelations@royalmail.com

Royal Mail investor relations line: 020 7449 8183



Media Relations

Mark Mann

Phone: 07483 144 684

Email

[Skuse]

Is it something to do with pensions??

[clashcityrocker]

The National Security and Investment Act 2021 (the Act) is due to come into force on 4 January 2022. The Act gives the Secretary of State extensive powers to review transactions where it considers there is or may be a risk to national security. Given the recognised importance of energy and infrastructure assets, it is likely that projects in these sectors in the United Kingdom will regularly be caught and scrutinised under the Act. Although intended primarily to apply to M&A transactions, the scope of the Act is much wider and will pose obstacles that need to be considered by parties when planning the financing of energy and infrastructure assets.

As VESA is owned by a foreign national (Mr Kretinsky) someone thinks his ownership of Royal Mail may be a risk to national security.
He is edging towards a possible takeover of the business.

[2yearpostie]

ITS A TAKEOVER BID.

[RobertT]

Is it something to do with pensions??

No.

[Rommagic]

More of a takeover?.

[Dorset Plodder]

As VESA is owned by a foreign national (Mr Kretinsky) someone thinks his ownership of Royal Mail may be a risk to national security.
He is edging towards a possible takeover of the business.

Thanks for the explanation Clash I just asked this question on the LTB thread!

Anything that helps to drag Royal Mail's dealings under the Spotlight has to be good news for us. We all know they're a bunch of lying bastards

[clashcityrocker]

More of a takeover?.

Yes.
And I doubt if Mr Kretinsky will put a meeting with Terry high on his agenda.

[Rommagic]

More of a takeover?.

Yes.
And I doubt if Mr Kretinsky will put a meeting with Terry high on his agenda.

What would an extra 1 per cent cost him?,He wants another 3 per cent for now?.

[robson144]

Hostile takeover

[Surreypostie]

Really stupid question, why does it matter if he owns 30%? They, the board obviously think it will be good for them.

[clashcityrocker]

Really stupid question, why does it matter if he owns 30%? They, the board obviously think it will be good for them.

If he reaches the 30% threshold he has to offer to buy the rest.
He will own all the company. It will be his company to do with as he sees fit.
The takeover is hostile if the current Board advise shareholders against selling. They may be on board with the takeover.

If he spins off GLS, Royal Mail will struggle financially in its present form.
There may be massive changes ahead.

[robson144]

Some hostile takeovers are bad….buy cheap and make a load of redundancies….sell a load of the assets which forces the share price up, then sell their holding for a profit.

[Surreypostie]

Well...

So we shed the parcels and we are left with a lame duck that is responsible for the USO. Renationalisation? Without those parcels we lose masses of jobs. I don't understand all this shite.

[Pharox]

Glad the media have finally got the correct info regarding a currant pay situation. " Staff have been handed a 2% pay rise, backdated to April, and a further 3.5% increase if they agree to changes in working practices " Taken from https://www.theguardian.com/business/2 ... ail-stake