The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBristol Wtr.8t% Regulatory News (BWRA)

Share Price Information for Bristol Wtr.8t% (BWRA)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 129.50
Bid: 126.00
Ask: 133.00
Change: 0.00 (0.00%)
Spread: 7.00 (5.556%)
Open: 129.50
High: 129.50
Low: 129.50
Prev. Close: 129.50
BWRA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Regulatory Application

8 Aug 2022 07:00

RNS Number : 1591V
Bristol Water PLC
08 August 2022
 

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014, AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (UK MAR).

FOR DISTRIBUTION ONLY OUTSIDE THE UNITED STATES TO PERSONS OTHER THAN "U.S. PERSONS" (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED). NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT

 

BRISTOL WATER PLC

8 August 2022

 

Proposed merger of Bristol Water plc with South West Water Limited

Following Pennon's acquisition of Bristol Water plc in June 2021, and subsequent merger clearance from the CMA in March 2022, plans to integrate South West Water and Bristol Water into a single entity operating under one licence are now underway.

South West Water Limited has submitted its application to Ofwat to vary its licence to include Bristol Water. In due course, Ofwat will launch its consultation under the Water Industry Act 1991 to combine the activities of the two businesses into one licence.

As part of the proposed merger, substantially all of Bristol Water plc's business will transfer by means of a statutory transfer scheme under Schedule 2 of the Water Industry Act 1991 to South West Water Limited, subject to Ofwat's agreement on the licence variation and the transfer scheme.

Bristol Water plc currently intends to include its £40,000,000 2.701% Index-Linked Secured Guaranteed Bonds due 2041 (ISIN: XS0609003701) in the integration with South West Water, subject to Ofwat's agreement on the licence variation and transfer scheme. Bristol Water plc will consult with bondholders on its proposals in due course.

Bristol Water plc's 8.75% irredeemable cumulative preference shares and debenture stock (comprising (i) the 4% consolidated irredeemable debenture stock, (ii) the 4% perpetual irredeemable debenture stock; (iii) the 4.25% perpetual irredeemable stock and (iv) the 3.50% perpetual irredeemable stock) will not be transferred as part of the transfer scheme. They will remain ongoing obligations of Bristol Water plc after the implementation of the transfer scheme, and Pennon Group plc and Bristol Water plc are preparing the necessary arrangements to ensure that at all times Bristol Water plc will have sufficient funds and reserves to meet all of its future obligations in relation to the preference shares and debenture stock.

For further information, please contact:

Colin Caldwell

Company Secretary

+44 (0) 7801 657771

LEI number: 549300V0DVQGSADLDB82

This announcement is released by Bristol Water plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of UK MAR, encompassing information relating to the consent solicitation described above. For the purposes of UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Colin Caldwell, Company Secretary at Bristol Water plc.

About Pennon Group

Pennon is a UK-focused water infrastructure group, comprising South West Water (incorporating Bournemouth Water), Bristol Water, and Pennon Water Services.

Bristol Water is a regulated water only company supplying drinking water to a population of approximately 1.2 million people in the Bristol region.

South West Water provides water and wastewater service to a population of c.1.8 million in Cornwall, Devon and parts of Dorset and Somerset, and water only services to c.0.5 million in parts of Dorset, Hampshire and Wiltshire.

 

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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
RAPEAKPSELLAEFA
Date   Source Headline
10th Oct 200711:00 amRNSDirectorate Change
27th Sep 200711:33 amRNSDividend Declaration
24th Sep 20075:08 pmRNSDirectorate Change
17th Sep 200711:09 amRNSApplication to Ofwat
6th Aug 20073:23 pmRNSAGM Statement
11th Jun 20074:08 pmRNSAnnual Information Update
31st May 20077:02 amRNSFinal Results
24th May 20077:01 amRNSDirectorate Change
22nd Mar 20073:36 pmRNSDividend Declaration
30th Nov 20067:30 amRNSInterim Results
28th Sep 20062:58 pmRNSDividend Declaration
11th Sep 200610:49 amRNSResult of AGM
28th Jul 20067:30 amRNSAnnual Information Update
13th Jul 20067:00 amRNSFinal Results
19th Jun 20064:54 pmRNSDirectorate Change
16th May 20063:13 pmRNSDividend Declaration
26th Apr 20065:51 pmRNSRule 8.3- Bristol Water Plc
26th Apr 20063:02 pmRNSRule 8.3- Bristol Water PLC
21st Apr 20068:02 amRNSOffer Update
31st Mar 200612:10 pmRNSRe Trading Update
28th Mar 20063:27 pmRNSDividend Payment
3rd Jan 20063:42 pmRNSRedemption of Debentures
8th Dec 20057:01 amRNSInterim Results
29th Sep 200511:23 amRNSDoc re. Repayment of Stock
29th Sep 200510:10 amRNSDividend Declaration
4th Aug 20054:29 pmRNSDirectorate Change
18th Jul 200511:54 amRNSResult of AGM
7th Jul 20057:00 amRNSRe: Reduction of Capital
6th Jul 200511:50 amRNSCourt Approval
16th Jun 200511:51 amRNSResult of EGM
13th Jun 20055:22 pmRNSRe: Financing
13th Jun 20055:19 pmRNSRe: Financing
26th May 20057:00 amRNSFinal Results
20th May 20055:19 pmRNSPosting of Circular
20th May 20057:00 amRNSReturn of Capital
17th May 200511:15 amRNSNotice of Results
1st Apr 20057:00 amRNSDirectorate Change

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.