Centrica PLC
21 February 2002
Centrica in discussions to acquire NewPower Holdings Inc.
Centrica plc confirmed today that it is in discussions for the acquisition of
NewPower Holdings Inc. (NewPower). Pending the resolution of a number of issues,
the parties are discussing a cash tender offer of $1.05 per share for all of
NewPower's outstanding stock and warrants, subject to price adjustments based on
changes in commodity prices and further subject to a variety of conditions for
closing the tender offer. Holders of the majority of the outstanding shares and
warrants of NewPower have indicated their intention to support the transaction
currently being discussed. There can be no assurances that the outstanding
issues will be resolved and a transaction will be announced.
Enquiries:
Centrica Investor Relations: 01753 494900
Centrica Media Relations: 01753 494085
About Centrica plc
In Britain, energy and services group Centrica plc trades under the AA, British
Gas, Goldfish and One.Tel brands. In Canada, Centrica trades through the
established Direct Energy brand and in the United States through Energy America.
About NewPower Holdings, Inc.
NewPower Holdings, Inc. (NYSE: NPW), through its subsidiary, NewPower, is the
first national provider of electricity and natural gas to residential and small
commercial customers in the United States. The Company offers consumers in
restructured retail energy markets competitive energy prices, pricing choices,
improved customer service and other innovative products, services and
incentives.
This information is provided by RNS
The company news service from the London Stock Exchange
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