|anyone know the "record date " for the special dividend
and then what is the proposed "payment date"2
|yup ........ and amazing it was so quiet here
the 3 yr graph above at the very top of the thread says it all
often those are the best shares eh (where the bb's are positive and relaxed but no muppets) ... ;O)|
|1336p with the dividend.I like it.|
|rec'd offer for co
what a nice weekend it will be|
|* Bahrain-based Arcapita behind bid for VIRIDIAN - Telegraph|
other parties should be flushed out now|
|Shares in Viridian Group jumped in early afternoon trading in London on Thursday after the group, Northern Ireland's leading energy supplier, said it had received a takeover approach. The stock , which has risen in recent days as takeover speculation mounted, rose a further 13 per cent to £12.30, valuing the group previously known as Northern Ireland Electricity at £1.5bn. The former state-owned company, which is listed in London and Dublin, did not identify the potential bidder, but there had been talk earlier this week that an Asian investor was building a stake.
Might be other bidders.|
|any views on poss offer price???|
|Viridian Group PLC - Statement re Possible Offer RNS
RNS Number:0229K Viridian Group PLC 05 October 2006
For immediate release
Not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a breach of the relevant laws in that jurisdiction.
5 October 2006
Viridian Group PLC ("Viridian" or "the Company")
Statement re: Possible offer
Viridian notes today's rise in the share price of the Company and announces that it is considering an approach which may or may not lead to an offer for the Company.
Rule 2.10 In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Viridian confirms that it has in issue 122,600,823 ordinary shares of 27 7/9 pence each. The International Securities Identification Number for these shares is
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Viridian all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Viridian, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Viridian by Viridian or any potential offeror or any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
This information is provided by RNS
The company news service from the London Stock Exchange
|Trading statement is due by the end of the week.... either trading is very good or there might be a possible takeover in the offing, looking at the steady rise over recent days.|
Viridian to invest 312 mln stg in Northern Ireland electricity network
LONDON (AFX) - Viridian Group PLC said its Northern Ireland Electricity business will invest 312 mln stg in the province's power network in the next five years.
Viridian also said NIE network charges will remain broadly flat before inflation and that it would invest in programmes to support vulnerable customers and sustainable development.
A spokesman for the group said, however, that the capital expenditure settlement for the period starting in April 2007 was lower than the 326 mln stg originally proposed in December.
A spokesman for the regulator, the Northern Ireland Authority for Energy Regulation (NIAER), said it had reduced the total to 312 mln stg after deciding that four investment schemes proposed by Viridian and NIE were unnecessary.
Viridian said the budget was part of its acceptance of final electricity transmission and distribution price control proposals published today by the NIAER.|
|Very good end to the day... takeover bid possibly?|
|XD 2nd August for 26.61p.|
|What is the xd date?|
|More like going xd for 26p in 3 weeks is buoying it up!|
|apart from mkt - is regul. revue holding this back?|
|NIE and ESB National Grid announce plans for a new North-South interconnector
Northern Ireland Electricity (NIE) and ESB National Grid today announced plans
for a new North-South electricity interconnector in Ireland.
NIE and ESB National Grid have begun the process of obtaining planning
permission for the project, which is expected to cost approximately £120
million. Arrangements for funding construction of the interconnector and for its
operation will be determined at a later date.
This major new proposed investment in electricity infrastructure, which is
expected to become operational by the end of 2012, will more than double the
current 300MW cross border electricity trading capability. It will also st
rengthen the security of electricity supply and support the future growth of
renewable power generation.
The project has the full backing of the Energy Ministers in Northern Ireland and
the Republic of Ireland, and of both regulators, the Northern Ireland Authority
for Electricity Regulation and the Commission for Energy Regulation.
In order to provide the best technical solution, the proposed new interconnector
will be constructed west of the existing North-South interconnector, which links
Tandragee and Louth.
Commenting on the proposed investment, Patrick Haren, Chief Executive of
Viridian said: 'We look forward to working with ESB on this project. Once
completed it will enhance the new all-island wholesale market scheduled to start
Northern Ireland Electricity's parent company, Veridian, today reported an 11% jump in profits and a major increase in business in the Irish Republic.
Energy supplies in the Republic increased by more than 25% and Viridian was the largest independent supplier of electricity here through its Energia subsidiary.
Announcing the annual results, Viridian chief executive Patrick Haren said: "The group has delivered a very good set of results. Our strategy is strongly focused on building our energy business here in Ireland.
"Our regulated businesses under Northern Ireland Electricity have each delivered a strong performance and we have seen significant increases in customer numbers and energy sales in the Republic where we are growing our customer base to absorb the future output of our second power station at Huntstown."
Highlights of the results included:
:: Turnover increased to £976.8m (1.4bn) from £835.4m (1.2bn)in 2005;
:: Operating profit increased 11% to £132.4m (194m) from £119.1m (175m) in 2005;
:: Strong growth in business customers to 18,600 in the Republic;
:: Energy supplied in the Republic increased by 26%;
:: All-island competitive market electricity sales increased 36% to £370.1m (543m);
:: During the year Energia started to supply a number of large customers in the Republic with gas, generating revenues of £11m (16.1m).
Mr Haren said the company intended to be a significant player in the energy markets in Ireland and had taken a lead in promoting an all-island market in electricity.
Energia is the leading independent electricity supplier in the Republic with a 33% share in the large energy user market and growing business strongly in the small to medium-sized business market, he said.
Despite Energia experiencing pressure in operating margins, the company was still strongly committed to a second power station at Huntstown, near Dublin, said Mr Haren.
The plant is due for completion in the autumn of 2007 and would bring investment in competitive generation in the Republic to 500m, he said.
On the Northern Ireland Electricity front, he said focus remained on controlling costs while ensuring quality of service to customers.
During the last financial year £73.5m (107.8m) had been invested in NIE networks and systems.
Targets on overall and guaranteed standards had been met and the company had continued to deliver a high level of network reliability, he reported, against a background of network operating costs reducing by 40% in real terms since privatisation.
A 5% increase was declared in the final dividend to 26.61p per share which, together with the interim dividend of 10.28p, gives a final total of 36.89p a 4.9% increase over 2004/05.|
|Viridian increases annual operating profit by 44 pct to 149 mln stg
LONDON (AFX) - Northern Ireland water utility Viridian Group PLC said a strong operating performance had helped it lift annual operating profit by 44 pct to 149 mln stg.
Viridian said its regulated businesses in the province each delivered strong outcomes while meeting the demands of its price controls.
The group's generation business Viridian Power & Energy (VP&E) maintained high availability from its Huntstown 1 plant and construction of Huntstown 2 had started and remains on target for commissioning in the autumn of next year.
Revenues on continuing operations increased to 976.8 mln stg from 835.4 mln stg previously and the total dividend rose by 4.9 pct to 36.89 pence per share against the year before.
Chairman Dipesh Shah said companies across the group are preparing for the challenge of the Single Electricity Market (SEM), the new all-island wholesale market, in 2007.
He said the group is awaiting the final transmission and distribution price control proposals from regulators and that VP&E is growing its customer base in anticipation of the commissioning of Huntstown 2.
'We place the delivery of strong operating performance at the heart of our approach to the business, as demonstrated again by this years results,' he said.|
|Very good set of results|
|Added a few myself today at sub £9|
|Apparently regulatory review almost at a conclusion for NIE. Just the t's to cross my source tells me. All sounds very positive. Should see share price go north soon. Chin up and hold your nerve.|
wee beau beau
|Given the positive pre close trading statement, a little surprising to see this degree of weakness, after all this co has "safe haven" status in a choppy market. I agree re next week, and have added today @ 890, which basis earnings of 67p gives a p/e of only 13.3.|
|I'm expected the tide to turn next week. 23rd May year end results published. Likely to be very impressive. If the market makes a recovery this should rocket to £10 again.|
wee beau beau
|why the drop to 945p today?|