Statement Regarding Opus Energy Group Limited

RNS Number : 4871H

Telecom Plus PLC

18 August 2016

 

Telecom Plus PLC ("the Company")

Statement Regarding Opus Energy Group Limited

Telecom Plus PLC notes the recent media speculation regarding the possible sale of Opus Energy Group Limited ("Opus") in which it holds a 20% equity stake. The Company understands that the Board of Opus is currently assessing strategic options for the future of the business, which could include a sale. The Company is not currently considering increasing its stake in Opus.

At this stage it is too soon to confirm whether any such transaction will be concluded, but in the event that it is, a further announcement will be made.

Notes:

Rothschild in London is acting as financial adviser to Opus in relation to the possible transaction.

For further information, please contact:

Telecom Plus PLC

Andrew Lindsay, CEO                                                                        020 8955 5000

Nick Schoenfeld, CFO

Peel Hunt

Dan Webster / Jock Maxwell Macdonald                                           020 7418 8900

JP Morgan Cazenove

Christopher Wood / Hugo Baring                                                       020 7742 4000

MHP Communications

Reg Hoare / Katie Hunt / Giles Robinson                                           020 3128 8100

About Telecom Plus PLC ("Telecom Plus"): www.utilitywarehouse.co.uk

Telecom Plus, which owns and operates the Utility Warehouse brand, is the UK's only fully integrated provider of a wide range of competitively priced utility services spanning both the Communications and Energy markets.

Members benefit from the convenience of a single monthly statement, consistently good value across all their utilities and exceptional levels of service. Telecom Plus does not advertise, relying instead on 'word of mouth' recommendation by existing satisfied Members and Partners in order to grow its market share.

Telecom Plus also has a 20% shareholding in Opus Energy Group Limited, a successful, profitable and fast growing independent supplier of gas and electricity to small, medium and large business customers.

Telecom Plus is listed on the London Stock Exchange (Ticker: TEP LN).  For further information please visit www.utilitywarehouse.co.uk

 

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