26th Jan 2007 13:35
Thus Group PLC26 January 2007 United Utilities - Competitive tender for telecoms services and Issue of additional consideration shares Competitive tender for telecoms services United Utilities PLC ("UU") has notified THUS Group plc ("the Company") that,following the provision of an undertaking given by UU Water to OFWAT, itproposes to carry out a competitive tender process in relation to all of thetelecoms services provided under the existing supply contracts by THUS to UU(excluding Vertex), which generate annual revenues of around £10 million. THUS proposes to participate in this competitive tender process whilst seekingto reserve its rights under these contracts which are due to run for a furthertwo years until 25 February 2009 and contain provisions entitling UU tobenchmark prices and service levels under those contracts against a comparableaverage. THUS expects to be advised of the tender process on 31 January 2007 and expectsthe contract(s) to be awarded by 31 March 2007. THUS involvement in this processmay or may not lead to renewal of its existing contracts. A further announcementwill be made when appropriate. Issue of additional consideration shares As a result of the Company's share price having reached a threshold agreedbetween, among others, the Company and UU in the share and asset purchaseagreement relating to the Company's acquisition of Your Communications ("theAcquisition"), the Board of the Company announces that it proposes to issue2,274,701 new ordinary shares of 25 pence each in its capital to UU. This issuewill be additional consideration for the Acquisition. Application will be made for the 2,274,701 ordinary shares of the Company to beadmitted to the Official List of the UKLA and the London Stock Exchange's marketfor listed securities. It is expected that admission will become effective andthat dealing will commence at 8.00 a.m. on 1 February 2007. For further information: Investor enquiries Jennifer Lawton THUS Investor Relations Manager 0141 566 3176 David MacLeod Company Secretary 0141 566 3090 Press enquiries Deborah Rodger Head of Press and Corporate Comms. 0141 566 3167 Smithfield (Public Relations Adviser to THUS) John Antcliffe or Tania Wild 0207 360 4900 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
United Utilities