Business
Offer Update
Offer Update.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \nRNS Number : 6523W Severn Trent PLC 10 February 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.\nFOR IMMEDIATE RELEASE\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n10 FEBRUARY 2017\n \nRECOMMENDED ACQUISITION\nof\nDEE VALLEY GROUP PLC\nby\nSEVERN TRENT WATER LIMITED\n \nOFFER UPDATE\n \nSevern Trent notes the decision of the Court to grant seven shareholders leave to appeal the sanctioning of the Dee Valley Scheme.\n \nSir Geoffrey Vos, Chancellor of the High Court, granted permission on the basis that the decision raised an important point which it was desirable for the Court of Appeal to consider and not on the basis that any appeal, if made, would have a realistic prospect of success. He considered that the chances of success were low if not negligible and urged the legal representatives of the shareholders to advise their clients to think very carefully before pursuing an appeal, application for which will need to be made by 4 pm on Monday 13 February 2017.\n \nWhilst Severn Trent opposed the granting of permission it welcomes the fact that an appeal, if made, will be expedited and heard on 21 and 22 February 2017. \n \nThe Dee Valley Board continues to recommend the Severn Trent Scheme to the Dee Valley Shareholders. In order to benefit from Severn Trent's significantly higher offer of 1,825 pence, Dee Valley Voting Ordinary Shareholders should continue to take no action in respect of the Ancala Revised Proposal and should not sell their shares to Ancala.\n \nFurther information\nUnless otherwise stated, capitalised terms used in this announcement have the same meaning as those in Severn Trent's acquisition document dated 2 December 2016.\nThis announcement is not intended to and does not constitute, or form part of, any offer to sell or subscribe for or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Acquisition or otherwise, nor shall there be any sale, issuance or transfer of securities of Dee Valley in any jurisdiction in contravention of applicable law. This a...