Return of capital to shareholders

Special Dividend and Share Consolidation and changes to Articles of Association

Pennon Group plc (Pennon or the Group) announced on 3 June 2021 that it has acquired 100% of the issued share capital of Bristol Water Holdings UK Limited, along with proposing a special dividend and share consolidation.

On the same date, Pennon published a shareholder Circular in connection with the special dividend, share consolidation, increase of the Company’s existing authority to repurchase shares in order to execute a share buy-back, amendment of certain of the Company’s existing AGM authorities in relation to allotment of shares and disapplication of pre-emption rights in order to reflect the share consolidation and making certain amendments to the current articles of association of the Company.

The circular also contained a notice convening a general meeting of the Company. This meeting was held at Peninsula House, Rydon Lane, Exeter, United Kingdom, EX2 7HR at 9.00 a.m. on 28 June 2021 at which ordinary and special resolutions were proposed and approved by shareholders.

The Circular and the Notice of General Meeting are available here.

The Circular and the Notice of General Meeting is also available for inspection on the NSM's website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Shareholder overview presentation

A document providing an overview of the special dividend and share consolidation mechanics can be viewed here.

A presentation for WaterShare+ shareholders which provides an overview of the special dividend and the options for WaterShare+ shareholders can be viewed here.