8th Aug 2005 07:00
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 Return of Cash - Results of Elections Under the Return of Cash proposal, approved by the Shareholders of National Gridplc on 25 July 2005, Shareholders and ADR Holders were given three alternativesin relation to their B Shares. As at the close of the Election Period, being4.30 p.m. (London time) and 11.30 a.m. (New York City time) on 5 August 2005,the results of elections were as follows: • valid elections to accept the Initial Repurchase Offer were received in relation to 843,811,272 B Shares (27.30 per cent. of issued B Shares). • valid elections to continue to hold B Shares were received in relation to 85,336,859 B Shares (2.76 per cent. of issued B Shares). • valid and deemed elections to accept the Single B Share Dividend were received in relation to 2,162,099,630 B Shares (69.94 per cent. of issued B Shares). JPMorgan Cazenove, acting as principal, is to make today the Initial RepurchaseOffer to purchase the 843,811,272 B Shares in respect of which valid electionshave been received from Shareholders. The Board of National Grid plc is also pleased to announce that it has declaredthe Single B Share Dividend of 65 pence per B Share payable to thoseShareholders who have, or who are deemed to have, elected to receive the SingleB Share Dividend. Settlement of the Repurchase Offer and Single B Share Dividend for Shareholdersis expected to be made on 22 August 2005 and for ADR Holders is expected to bemade on 25 August 2005. All capitalised terms shall have the meanings given to them in the Circular toShareholders and the US Supplemental Memorandum, each dated 6 June 2005. Enquiries: National Grid plcInvestorsAlexandra Lewis +44 (0)20 7004 3170David Campbell +44 (0)20 7004 3171Richard Smith +44 (0)20 7004 3172 Media Clive Hawkins +44 (0)20 7004 3147 JPMorgan Cazenove, Broker to National Grid Jonathan Wilcox +44 (0)20 7588 2828Matthew Lawrence +44 (0)20 7588 2828 Citigate Dewe Rogerson, PR Advisers to National Grid Anthony Carlisle +44 (0)7973 611888 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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