National Grid PLC
08 August 2005
8 August 2005
This document should not be transmitted, distributed or released in or into any
jurisdiction in which such an act would constitute a violation of the relevant
laws of such jurisdiction.
National Grid plc
Return of Cash - Results of Elections
Under the Return of Cash proposal, approved by the Shareholders of National Grid
plc on 25 July 2005, Shareholders and ADR Holders were given three alternatives
in relation to their B Shares. As at the close of the Election Period, being
4.30 p.m. (London time) and 11.30 a.m. (New York City time) on 5 August 2005,
the results of elections were as follows:
• valid elections to accept the Initial Repurchase Offer were
received in relation to 843,811,272 B Shares (27.30 per cent. of issued B
Shares).
• valid elections to continue to hold B Shares were received
in relation to 85,336,859 B Shares (2.76 per cent. of issued B Shares).
• valid and deemed elections to accept the Single B Share
Dividend were received in relation to 2,162,099,630 B Shares (69.94 per
cent. of issued B Shares).
JPMorgan Cazenove, acting as principal, is to make today the Initial Repurchase
Offer to purchase the 843,811,272 B Shares in respect of which valid elections
have been received from Shareholders.
The Board of National Grid plc is also pleased to announce that it has declared
the Single B Share Dividend of 65 pence per B Share payable to those
Shareholders who have, or who are deemed to have, elected to receive the Single
B Share Dividend.
Settlement of the Repurchase Offer and Single B Share Dividend for Shareholders
is expected to be made on 22 August 2005 and for ADR Holders is expected to be
made on 25 August 2005.
All capitalised terms shall have the meanings given to them in the Circular to
Shareholders and the US Supplemental Memorandum, each dated 6 June 2005.
Enquiries:
National Grid plc
Investors
Alexandra Lewis +44 (0)20 7004 3170
David Campbell +44 (0)20 7004 3171
Richard Smith +44 (0)20 7004 3172
Media
Clive Hawkins +44 (0)20 7004 3147
JPMorgan Cazenove, Broker to National Grid
Jonathan Wilcox +44 (0)20 7588 2828
Matthew Lawrence +44 (0)20 7588 2828
Citigate Dewe Rogerson, PR Advisers to National Grid
Anthony Carlisle +44 (0)7973 611888
Additional Information:
In the United States, National Grid plc has filed a Tender Offer Statement on
Schedule TO (the 'Schedule TO') containing the Circular to Shareholders, a US
Supplemental Memorandum, an Election Form and a Letter of Election and
Transmittal for shareholders and holders of American Depositary Receipts,
respectively, and other related documentation with the SEC. Free copies of the
Schedule TO and the other related documents filed by National Grid plc in
connection with the B Share Alternatives are available on the SEC's website at
http://www.sec.gov.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.