[CDATA[/* >*/, https://pennon-group.connectid.cloud/register, Acquisition of the Bristol Water Group and proposed Special Dividend and Share Consolidation, Acquisition of the Bristol Water Group for 425 million cash consideration, adding a high-quality business with approximately 1.2 million customers, Acquisition is expected to be earnings accretive and will result in an increase of c.16% in the Group regulatory capital value (, The acquisition price equates to a premium to RCV of 44%, Proposed c.1.5 billion special dividend and share consolidation, and a proposed share buyback programme of up to 0.4 billion, Following the Acquisition and the return of capital to shareholders, the Group is targeting net debt to RCV gearing of below 65% by the end of K7. Separately today, Pennon revealed its annual results showing underlying annual revenues rising modestly to 644.6million as lockdown restrictions that forced people to work from home helped drive household demand higher. But, after you dance around a few moments stop and catch your breath and start to think about things you must know before making a In some cases they may ask for a great deal of money to arrange them. 15 Questions You Should Always Ask Before Accepting a Job Offer. Required fields are marked *. Calls from outside the United Kingdom will be charged at the applicable international rate. Be the deciding factor in accepting a important questions to ask before accepting a job abroad teaching English in China to arrange them reality is that employers. Bristol Water customers can look forward to lower bills with the removal of the small company premium and benefit from Pennons pioneering WaterShare+ scheme, giving customers a stake and say in how we operate. The presentation can be accessed here: https://pennon-group.connectid.cloud/register. Customers will then receive dividends and hold voting rights in Pennon Group on the Pennon shares they acquire and be sent quarterly statements on how those shares are performing. Ask if the Salary Is Negotiable. However,the Viridor sale enabled the firm's overall profits to jump by 754.1 per cent to a record 1.76billion. 11 January 2022: The CMA considers there are reasonable grounds for believing that the undertakings offered by Pennon, or a modified version of them, might be accepted by the CMA under the Water Industry Act 1991. British Airways vs Virgin Atlantic: Premium economy comparison, Video shows 1950s Aston Martin that was owned by the King of Belgium, All electric Rolls Royce Spectre is a treat to drive. A presentation for investors and analysts covering the acquisition of the Bristol Water Group, return of capital to shareholders and Pennons full year results 2020/21 will take place today at 8.30 a.m. by Susan Davy, Group Chief Executive and Paul Boote, Group Finance Director. This can be taken either as money off your bill or as shares in our new parent company, Pennon Group Plc. Launch of consultation on undertakings offered. Bristol Water, a water only company, will retain its local brand and community identity with teams continuing to support the 1.2 million customers the organisation provides drinking water services to. WebWe have a 12-month fixed term contract for a part time and full time position to join the Customer Care Advisor team at Bristol Water. This was either as money off your bill or a share in our parent company, Pennon Group Plc. min-height: inherit; Pennon Group adds half a million more customers as it buys Bristol Water and reveals 1.9bn investor payout after Viridor sale brings in a huge cash pile Bristol Operating profits did also drop by about 30million, partly due to price cuts arising from a transition to a new regulatory period. Pennon bought Bristol Water Group from its indirect shareholders: infrastructure funds advised by iCON Infrastructure LLP (80% of the shares); and ITOCHU Corporation (20%). Check benefits and financial support you can get, Find out about the Energy Bills Support Scheme, Mergers - phase 1 clearance with undertakings in lieu, Decision that undertakings might be accepted, Undertakings in lieu of reference accepted. 'The firm's 0.4billion acquisition announcement of Bristol Water firmly solidifies that positioning and helps consolidate its position as a leader in the industry. We use some essential cookies to make this website work. Dec 22 (Reuters) - British water company Pennon Group (PNN.L) said it will offer undertakings to the UK's competition regulator by Dec. 31 as part of a review of its It also adds another 500 dedicated employees to the Group, enabling access to a new, wider and diverse talent pool in the South West, with further opportunities to become an employer of choice. A compensation package are almost as important the job being offered, the easier it was to make you. Competition and Markets Authority. WebBristol Water was acquired by the Group in June 2021, with merger clearance from the CMA received on 7 March 2022. Pennon Group Welcomes Bristol Water. .view-timeline .views-row { margin-bottom: 0; Registration for the Pennon shares opened at 9am on Monday 5 December 2022 and closes at 5pm on Friday 6 January 2023. Bristol Water joins the group comprising of South West Water, Bournemouth Water and Pennon Water Services serving 3.1 million customers across the Greater South West. /*-->