20th Jun 2007 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR PART INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN UNITED UTILITIES TO SELL ITS STAKE IN THUS
United Utilities PLC ("UU") announces today that it is to sell its entire stake in THUS Group plc ("THUS") via an accelerated book build.
UU has appointed Citi and HSBC as its placing agents to conduct a share placing to institutional investors of 41,427,986 shares in THUS, which represents approximately 22.63% of the issued share capital of THUS.
The books for this placing will open with immediate effect. The timing of the closing of the books will be determined by the placing agents.
UU had already identified its stake in THUS as non-core to the group and this announcement is consistent with its strategy of focusing on its core skills of managing water, wastewater, electricity and gas networks.
Following completion of this share placing, UU will have no residual shareholding in THUS*.
United Utilities'contacts
For further information please contact:
Tim Weller, Chief Financial Officer +44 (0) 1925 237000 Gaynor Kenyon, Communications Director +44 (0) 1925 233219 Darren Jameson, Investor Relations Manager +44 (0) 1925 237033
Dominic Fry / Peter Hewer, Tulchan Communications +44 (0) 20 7353 4200
Placing Agent contacts
Darrell Uden, Citi +44 (0) 20 7986 0410
Nick Donald, HSBC +44 (0) 20 7991 1504
Dated 20 June 2007
Notes
* UU retains the benefits of the contingent consideration, announced at the time of the sale of Your Communications to THUS, that allows for a possible future further allotment of ordinary shares in THUS dependent on whether THUS' share price reaches certain levels on or before 31 December 2007.
This announcement is for information purposes only and does not constitute or form part of an offer or invitation to acquire or dispose of any Shares, or constitute a solicitation of any offer to purchase or subscribe for securities in any jurisdiction, including the United States, Canada, Australia or Japan. The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or under the securities legislation of any state of the United States.
The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of securities is being made in the United States.
This announcement is not for publication or distribution to persons in the United States of America, its territories or possessions or to any US person (within the meaning of Regulation S under the US Securities Act of 1933, as amended). Neither this announcement nor any copy of it may be taken or transmitted into Australia, Canada or Japan or to Canadian persons or to any securities analyst or other person in any of those jurisdictions. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian or Japanese securities law. The distribution of this announcement in certain other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.
This announcement and any offer of securities to which it relates are only addressed to and directed at persons who are (1) qualified investors within the meaning of directive 2003/71/ec and any relevant implementing measures and (2) who have professional experience in matters relating to investments who fall within article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or are persons falling within article 49(2) (a) to (d) ("High Net Worth Companies, Unincorporated Associations, etc") of the Order (all such persons together being referred to as "relevant persons"). The information regarding the Placing set out in this announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.
UNITED UTILITIES PLCRelated Shares:
United Utilities