Business
Non Voting Ordinary Shares Offer Update
Non Voting Ordinary Shares Offer Update.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \nRNS Number : 1700Y Severn Trent PLC 01 March 2017 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \nFOR IMMEDIATE RELEASE\nThis announcement contains inside information\n1 March 2017\n \nRECOMMENDED ACQUISITION\nof\nDEE VALLEY GROUP PLC\nby\nSEVERN TRENT WATER LIMITED\n \nNON-VOTING ORDINARY SHARES OFFER UPDATE, EXTENSION AND COMMENCEMENT OF COMPULSORY ACQUISITION PROCEDURE\n \nSevern Trent announces that at 1:00 pm on 28 February 2017, Severn Trent had received acceptances of the Contractual Offer in respect of a total of 456,535 Non-Voting Ordinary Shares, representing approximately 92.55 per cent. of the Non-Voting Ordinary Shares, based upon a figure of 493,268 Non-Voting Ordinary Shares in issue.\nAs set out in paragraph 9 of Part 2 of Severn Trent's acquisition document dated 2 December 2016, Severn Trent intends to exercise its rights under section 979 of the Companies Act 2006 to acquire compulsorily any outstanding Non-Voting Ordinary Shares to which the Contractual Offer relates on the same terms as the Contractual Offer. Notices will shortly be sent to non-assenting Non-Voting Ordinary Shareholders informing them of the compulsory acquisition of their shares. \nThe Contractual Offer is being extended and will remain open for acceptances until further notice.\nSave as set out above, as at 1:00 pm on 28 February 2017, neither Severn Trent nor any persons acting in concert with Severn Trent has (i) any interest in or any right to subscribe for any Non-Voting Ordinary Shares, (ii) any short positions (whether conditional or absolute and whether in money or otherwise), including any short position under a derivative, any agreement to sell or any delivery obligation or right to require any other person to purchase or take delivery of any Non-Voting Ordinary Shares, (iii) borrowed or lent any Non-Voting Ordinary Shares, save for any borrowed Non-Voting Ordinary Shares that have been on-lent or sold, or (iv) received any outstanding irrevocable commitment or letter of intent in respect of Non-Voting Ordinary Shares.\nFurther information\nUnless otherwise stated, capitalised terms u...