Pennon Group PLC Result of Meeting (2456O)
28 Mayo 2020 - 6:26AM
UK Regulatory
TIDMPNN
RNS Number : 2456O
Pennon Group PLC
28 May 2020
28 May 2020
PENNON GROUP PLC
Pennon obtains shareholder approval for the proposed disposal of
Viridor
On 18 March 2020, Pennon Group plc ("Pennon" or the "Company")
announced the proposed disposal of Viridor to funds advised by
Kohlberg Kravis Roberts & Co. L.P. for an enterprise value of
GBP4.2 billion (the "Disposal").
Pennon is pleased to announce that a resolution proposed at a
General Meeting of the Company held at 11 a.m. on 28 May 2020
seeking approval of the Disposal (the "Resolution") was duly passed
by shareholders, with 300,163,886 votes submitted in favour of the
Resolution. Full details of the vote are set out below.
EU Merger control clearance in relation to the Disposal was
obtained on 8 May 2020. The remaining condition to the Disposal,
relating to the release of certain guarantees and other obligations
provided by Pennon in favour of Viridor, continues to make good
progress such that completion of the Disposal is expected take
place in early summer 2020.
A further announcement will be made upon completion of the
Disposal and receipt of the GBP3.7 billion net cash proceeds.
Contacts
+44 (0) 1392 443
Pennon Group plc 168
Susan Davy Chief Financial Officer
Sarah Moody Director of Corporate Affairs & Investor
Relations
Jennifer Cooke Investor Relations Manager
+44 (0) 20 7251
Media Enquiries 3801
James Murgatroyd Finsbury
Harry Worthington
Barclays Bank PLC, acting through its Investment Bank - Joint financial
adviser and joint sponsor to Pennon
+44 (0) 20 7623
Iain Smedley / Osman Akkaya / Vera Kaufmann 2323
Morgan Stanley & Co. International plc - Joint financial adviser,
corporate broker and joint sponsor to Pennon
+44 (0) 20 7425
Andrew Foster / Francesco Puletti / Matthew Jarman 8000
Further Information
The Resolution was passed on a show of hands, with votes cast in
accordance with proxy voting instructions submitted to the Company
by the relevant deadline. Voting instructions received from
shareholders prior to the meeting were as set out below.
RESOLUTION VOTES FOR % FOR VOTES AGAINST % AGAINST % ISC VOTED VOTES WITHHELD
To approve
the Disposal
and to authorise
the Pennon
directors
to do everything
to give effect
to the Resolution 300,163,866 99.85% 444,271 0.15% 71.40% 1,301,669
----------- ------ ------------- --------- ----------- --------------
The total number of ordinary shares of 0.407p each in issue at
the meeting date, excluding shares held in treasury, was
421,031,724.
The total votes cast in favour of the resolution includes those
giving the Chairman discretion. A "vote withheld" is not a vote in
law and is not counted in the calculation of the proportion of the
votes "for" and "against" a resolution.
The full text of the Resolution is set out in the notice of
general meeting in the circular posted to Pennon shareholders.
A copy of the Resolution will be submitted and made available
for inspection from the National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
A copy of this announcement has been posted on the Company's
website at
www.pennon-group.co.uk/investor-information/shareholder-services
.
Cautionary statement
This announcement is not intended to, and does not constitute,
or form part of, any offer to sell or an invitation to purchase or
subscribe for any securities or a solicitation of any vote or
approval in any jurisdiction. The information contained in this
announcement is not for release, publication or distribution to
persons in any jurisdiction where to do so might constitute a
violation of local securities laws or regulations.
Important information relating to the joint financial advisers
and joint sponsors
Barclays Bank PLC, acting through its Investment Bank
("Barclays"), which is authorised by the Prudential Regulation
Authority and regulated in the United Kingdom by the Financial
Conduct Authority and the Prudential Regulation Authority, is
acting exclusively for Pennon and no one else in connection with
the Transaction and will not be responsible to anyone other than
Pennon for providing the protections afforded to clients of
Barclays nor for providing advice in relation to the Transactions
or any other matter referred to in this announcement.
Morgan Stanley & Co. International plc ("Morgan Stanley"),
which is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom, is acting exclusively
as sponsor, financial adviser and corporate broker to Pennon and
for no one else in connection with the Transaction and will not be
responsible to anyone other than Pennon for providing the
protections afforded to clients of Morgan Stanley or for providing
advice in relation to the Transaction, the contents of this
announcement or any transaction, arrangement or other matter
referred to in this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ROMSEDFFAESSEEI
(END) Dow Jones Newswires
May 28, 2020 07:26 ET (11:26 GMT)
Pennon (LSE:PNN)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Pennon (LSE:PNN)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024