Wales & West Utilities Finance PLC Replacement and Additional Equity (6943N)

TIDM60ZJ TIDMTTM

RNS Number : 6943N

Wales & West Utilities Finance PLC

26 September 2023

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AND THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

WALES & WEST UTILITIES FINANCE PLC

(incorporated with limited liability in England & Wales with registered number 6766848)

REPLACEMENT AND ADDITIONAL EQUITY

26 September 2023

Wales & West Utilities Finance plc (the "Issuer") announces that Wales & West Utilities Holdings Limited has today agreed to subscribe for additional equity in Wales & West Utilities Limited, ("WWU") for cash and WWU will receive approximately: (i) GBP759 million of equity to replace an equivalent amount to be repaid to certain loan noteholders affiliated with its indirect shareholders; and (ii) GBP150 million of additional equity (less working capital requirements above WWU of GBP3 million). The replacement equity is due to be received by WWU on or around 27 September 2023 and the additional equity is due to be received by WWU on or around 9 October 2023, subject to various corporate and financing conditions being satisfied. The equity subscriptions will strengthen the financial resilience of the WWU Group.

Investor Relations

Ian T. Weldon, Head of Treasury

Wales & West Utilities Limited

Wales & West House

Spooner Close

Celtic Springs

Coedkernew

Newport NP10 8FZ

   Email:   ian.weldon@wwutilities.co.uk

Market Abuse Regulation

This announcement is released by the Issuer and contains information in relation to the Bonds that qualified as inside information for the purposes of the Market Abuse Regulation (EU) 596/2014 ("MAR") and MAR as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 ("EUWA") ("UK MAR"), encompassing information relating to the Bonds. For the purposes of MAR, UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 (the "MAR Implementing Regulation") and the MAR Implementing Regulation as it forms part of domestic law of the United Kingdom by virtue of the EUWA, this announcement is made by Neil Henson, a Director of the Issuer.

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END

IOESEDSUMEDSEEU

(END) Dow Jones Newswires

September 26, 2023 05:34 ET (09:34 GMT)

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