Vanguard Group Announces Stake in Network International Holdings plc

On April 8, 2024, The Vanguard Group, Inc. disclosed a significant position in Network International Holdings plc, revealing ownership of over 4% of the company's shares. According to the information provided, Vanguard holds precisely 21,768,825 shares, representing a 4.09% interest in the company. This position underscores Vanguard's substantial involvement in Network International Holdings, a company notable within the payments industry.

The disclosure aligns with the requirements of Rule 8.3 of the Takeover Code, which mandates public opening position disclosures for persons with interests in relevant securities representing 1% or more. Notably, the most recent transaction saw Vanguard purchasing an additional 20,287 shares at a price of 3.94 GBP per share, further solidifying its stake in the company as of April 5, 2024. The firm made clear that it does not have any cash-settled derivatives or stock-settled derivatives related to Network International Holdings, providing a clear view of its direct equity position.

The disclosure by Vanguard does not mention any indemnity, option arrangements, or any form of agreement that could be an inducement to deal or refrain from dealing in the securities of Network International Holdings. The straightforward nature of this declaration indicates a pure investment interest by Vanguard, with no complex financial instruments or derivatives involved.