8th Aug 2005 07:57
National Grid PLC08 August 2005 8 August 2005 This document should not be transmitted, distributed or released in or into anyjurisdiction in which such an act would constitute a violation of the relevantlaws of such jurisdiction. National Grid plc Initial Repurchase Offer for B Shares National Grid has appointed JPMorgan Cazenove to make the Initial RepurchaseOffer in accordance with the Circular to Shareholders and the US SupplementalMemorandum, each dated 6 June 2005. JPMorgan Cazenove hereby makes the Initial Repurchase Offer, acting asprincipal, to purchase the 843,811,272 B Shares in respect of which validelections have been received from Shareholders and ADR Holders in an on-markettransaction on the terms set out in the Circular to Shareholders and the USSupplemental Memorandum. The offer is to purchase B Shares for 65 pence each,free of all dealing expenses and commissions. With respect to Shareholders, cheques and sale advices are expected to bedespatched and assured payments made through CREST on 22 August 2005 in respectof B Shares purchased under the Initial Repurchase Offer. With respect to ADR Holders, cheques and transaction advices are expected to bedespatched and book-entry credits made on 25 August 2005 in respect of B Sharespurchased under the Initial Repurchase Offer. Notes: All definitions used in the Circular to Shareholders and the US SupplementalMemorandum, each dated 6 June 2005 apply to this announcement. Enquiries: National Grid plc Investors Alexandra Lewis +44 (0)20 7004 3170 David Campbell +44 (0)20 7004 3171 Richard Smith +44 (0)20 7004 3172 Media Clive Hawkins +44 (0)20 7004 3147 JPMorgan Cazenove, Broker to National Grid plc Jonathan Wilcox +44 (0)20 7588 2828Matthew Lawrence +44 (0)20 7588 2828 Additional Information: In the United States, National Grid plc has filed a Tender Offer Statement onSchedule TO (the "Schedule TO") containing the Circular to Shareholders, a USSupplemental Memorandum, an Election Form and a Letter of Election andTransmittal for shareholders and holders of American Depositary Receipts,respectively, and other related documentation with the SEC. Free copies of theSchedule TO and the other related documents filed by National Grid plc inconnection with the B Share Alternatives are available on the SEC's website athttp://www.sec.gov. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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