Business
OPTIONAL REDEMPTION NOTICE
OPTIONAL REDEMPTION NOTICE.
About this update from Pennon Group Plc
[{"type":"text","content":"\n \nRNS Number : 6804R Pennon Group PLC 25 September 2017 \n\n25 September 2017\n \nPENNON GROUP PLC\n \nOPTIONAL REDEMPTION NOTICE\nFROM PENNON GROUP PLC \nTO THE HOLDERS OF ITS \n£300,000,000 PERPETUAL CAPITAL SECURITIES\n(ISIN: XS0899989213)\nTHIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.\nOn 11 September 2017, Pennon Group plc1 (the Issuer) announced an invitation to holders of its £300,000,000 Perpetual Capital Securities (ISIN: XS0899989213) (the Capital Securities) to tender their Capital Securities for purchase by the Issuer for cash (the Offer). In connection with the Offer, settlement of which took place on 22 September 2017, the Issuer has purchased £285,800,000 in principal amount of the Capital Securities.\nNOTICE IS HEREBY GIVEN to the Holders, the Trustee and the Principal Paying Agent in accordance with the terms and conditions of the Capital Securities (the Conditions) that the Issuer is exercising its option under Condition 5.6 to redeem all of the remaining Capital Securities on Tuesday 10 October 2017 (the Redemption Date) at their principal amount, together with periodic returns accrued from (and including) 8 March 2017 (being the Returns Payment Date immediately preceding the Redemption Date) to (but excluding) the Redemption Date.\nThe Issuer is entitled to exercise its option under Condition 5.6 as a result of the Issuer having purchased more than 80 per cent. of the initial aggregate principal amount of the Capital Securities.\nCapitalised terms used in this announcement but not defined have the meanings given to them in the Conditions.\nThis announcement is released by Pennon Group plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the optional redemption of the Capital Securities described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Helen Barrett-Hague, Group General Counsel and Company Secretary at Pennon Group plc.\n \nFor further information please contact Paul Boote, Group Financial Controller at ...