Business
Acquisition & Placing
Acquisition & Placing.
About this update from Telecom Plus Plc
[{"type":"text","content":"\n \nRNS Number : 4625T Telecom Plus PLC 20 November 2013 \n \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN OR SOUTH AFRICA. \nThis announcement is an advertisement and is not a prospectus and does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in Telecom Plus PLC or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities. \n20 November 2013 \nFor immediate release \nTelecom Plus PLC\nAcquisition and Firm Placing and Placing and Open Offer\n \nNew supply agreement with Npower\n \nTelecom Plus PLC (\"Telecom Plus\" or the \"Company\" or the \"Group\"), which supplies a wide range of utility services to both residential and business customers, has entered into a conditional agreement to acquire the entire issued share capital of Electricity Plus Supply Limited (\"Electricity Plus\") and Gas Plus Supply Limited (\"Gas Plus\") (together, the \"Energy Companies\") from Npower Limited (\"Npower\"), a subsidiary of RWE AG, for an aggregate consideration of £218 million (the \"Acquisition\"). As part of the Acquisition, the Group will be able to take advantage of a new 20 year energy supply agreement with Npower which will substantially increase the energy margins available to Telecom Plus, and enable it to provide even more competitive tariffs to its customers.\nHighlights of the Acquisition \n- Cash consideration of £218 million, £196.5 million payable on completion of the Acquisition and £21.5 million deferred for three years\n- A strategic opportunity for the Group to extend the duration and improve the commercial terms of the energy supply arrangements currently in place with Npower, to increase the competitiveness of its retail energy tariffs and ...