Return of cash - circular posted to shareholders
09/05/2007
Kelda Group plc announces that it is posting a circular to its
shareholders and convening an Extraordinary General Meeting, to be
held on 1 June 2007, to obtain shareholder approval for the
proposed return of approximately £750 million of cash to
shareholders.
On 1 May 2007, the Company announced the completion of the sale
of its US water supply business Aquarion. It was announced in
Kelda's interim results on 28 November 2006 that, following an
extensive review by the Board, both in terms of the use of the
Aquarion sale proceeds and the capital structure of the Group, the
Company would return approximately £750 million to
shareholders. The return will be structured as a bonus issue of B
shares with a view to giving certain shareholders a choice between
receiving the cash in the form of income or capital and, so far as
possible, giving those who choose capital some choice as to when
the return is made. The return will be accompanied by a share
consolidation to maintain comparability of earnings per share and
other company data.
View the
Circular to Shareholders in PDF format (154
KB). In order to read this format you will need the
Acrobat Reader.
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