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RNS Number : 2642O
Severn Trent PLC
02 October 2023
Severn Trent submits PR24 Business Plan
Severn Trent Plc announces that the Business Plan for Severn
Trent Water for the regulatory period beginning 1 April 2025 and
ending 31 March 2030 ("AMP8") has now been submitted to Ofwat.
We're pleased to be able to submit this ambitious plan that will
invest GBP12.9 billion to deliver benefits for our customers, the
environment, the region and shareholders, underpinned by a GBP550
million affordability package and strong shareholder support
following a successful GBP1 billion equity raise.
Full details of the plan can be found at:
www.stwater.co.uk/about-us/our-plans-2025-2030/
Previously published materials including an investor summary of
the plan and investor presentation can be found at:
www.severntrent.com/investors/
Capital Markets Day
On 12 October 2023 we will bring our plan to life at our Capital
Markets Day in Coventry City Centre.
If unable to join us in person, video content will be made
available online following the event, and you can register for a
virtual Q&A with Liv Garfield, CEO, and Helen Miles, CFO, which
are taking place:
- 16 October 16:00 BST
- 18 October 07:00 BST
To register or find out more please contact
investorrelations@severntrent.co.uk .
Enquiries
Investors & Analysts
Rachel Martin Severn Trent Plc +44 (0) 7824 624 011
Head of Investor Relations
Media
Jonathan Sibun Teneo +44 (0) 207 353 4200
Press Office Severn Trent Plc +44 (0) 247 771 5640
Important notices
This announcement does not constitute or form part of, and
should not be construed as, any offer, invitation or recommendation
to purchase, sell or subscribe for any securities in any
jurisdiction. Securities may not be offered, sold or transferred in
the United States absent registration or an applicable exemption
from the registration requirements of the US Securities Act of 1933
(as amended) (the "Securities Act"). The securities of the Company
have not been and will not be registered under the Securities Act.
This announcement does not purport to contain all of the
information that may be required to evaluate any investment in
Severn Trent Plc or any of its securities and should not be relied
upon to form the basis of, or be relied on in connection with, any
contract or commitment or investment decision whatsoever.
The information and opinions contained in this announcement are
provided as at the date of this announcement, have not been
independently verified and are subject to change without
notice.
This announcement contains statements that are, or may be deemed
to be, 'forward-looking statements' with respect to Severn Trent's
financial condition, results of operations and business and certain
of Severn Trent's plans and objectives with respect to these
items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'projects',
'potential', 'reasonably possible', 'targets', 'goal', 'estimates'
or words with a similar meaning, and, in each case, their negative
or other variations or comparable terminology. Any forward-looking
statements in this announcement are based on Severn Trent's current
expectations and, by their very nature, forward-looking statements
are inherently unpredictable, speculative and involve risk and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance and no assurances can be given that the forward-looking
statements in this announcement will be realised. There are a
number of factors, many of which are beyond Severn Trent's control
that could cause actual results, performance and developments to
differ materially from those expressed or implied by these
forward-looking statements. These factors include, but are not
limited to: the Principal Risks disclosed in our latest Annual
Report and Accounts (which have not been updated since the date of
its publication); changes in the economies and markets in which the
group operates; changes in the regulatory and competition
frameworks in which the group operates; the impact of legal or
other proceedings against or which affect the group; and changes in
interest and exchange rates.
All forward-looking statements made in this announcement which
are attributable to Severn Trent or any other member of the group
or persons acting on their behalf are expressly qualified in their
entirety by the factors referred to above. The final PR24 Business
Plan is subject to approval by Ofwat and there can be no assurance
that the PR24 Business Plan will be approved, in whole or in part,
and, as a result, no assurances can be given that the
forward-looking statements in this announcement will be realised.
This announcement speaks as at the date of publication. Save as
required by applicable laws and regulations, Severn Trent does not
intend to update any forward-looking statements and does not
undertake any obligation to do so. Past performance of securities
of Severn Trent Plc cannot be relied upon as a guide to the future
performance of securities of Severn Trent Plc. Nothing in this
announcement should be regarded as a profit forecast.
Certain information contained herein is based on management
estimates and Severn Trent's own internal research. Management
estimates have been made in good faith and represent the current
beliefs of applicable members of Severn Trent's management. While
those management members believe that such estimates and research
are reasonable and reliable, they, and their underlying methodology
and assumptions, have not been verified by any independent source
for accuracy or completeness and are subject to change without
notice, and, by their nature, estimates may not be correct or
complete. Accordingly, no representation or warranty (express or
implied) is given to any recipient of this announcement that such
estimates are correct or complete.
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END
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October 02, 2023 02:00 ET (06:00 GMT)
Severn Trent (LSE:SVT)
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