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Name | Symbol | Market | Type |
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Aviva 23 | LSE:52IP | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 99.186 | 0 | 01:00:00 |
RNS Number:4764X Welsh Water Utilities Finance PLC 31 May 2007 NEWS FROM WELSH WATER Embargoed until 07:30, Thursday 31 May 2007 WELSH WATER ANNOUNCES NEW NON-EXECUTIVE DIRECTOR Welsh Water today announced that James Strachan has been appointed a non-executive director of both Welsh Water and its parent company Glas Cymru with effect from 1 June 2007. Welsh Water has been owned by Glas Cymru since May 2001 and has the single purpose of delivering better value water and wastewater services to its customers. Glas Cymru has no shareholders and so reinvests all financial surpluses for the benefit of Welsh Water's customers. In welcoming James Strachan to the Board, Lord Burns, the Chairman, said, "We are delighted that James is joining the Board, bringing with him a rich and distinctive blend of experience from the private, public and voluntary sectors". James Strachan said, "I am very pleased to be joining the Board of Welsh Water. I believe that its successful, not-for-profit business model is unique amongst British utilities and continues to deliver excellent value for money to its customers." Enquiries: Dwr Cymru Welsh Water press office on 029 2055 6140. Notes for editors: 1. Glas Cymru was formed in April 2000 for the sole purpose of acquiring Welsh Water. It is a 'company limited by guarantee' registered under the Companies Act 1985. Glas Cymru has no shareholders. Instead, members carry out an important corporate governance role but they do not receive dividends nor do they have any other financial interest in the Company. This corporate structure ensures that all financial surpluses generated are retained and reinvested for the benefit of Welsh Water and its customers. 2. Glas Cymru's constitution strictly limits its purpose to that of financing water assets in Welsh Water's area of appointment and managing Welsh Water's business so that high quality water and sewerage services are delivered at least cost to the communities served by Welsh Water. Glas Cymru cannot diversify into other unrelated commercial activities. 3. James Strachan (53) is a non-executive director of Legal & General Group plc and Care UK plc., and is a member of the Court of Directors of the Bank of England. He was until last year Chairman of the Audit Commission and formerly a Board member of Ofgem, the energy regulator. He is also Chairman of RNID (the disability charity), where he was previously Chief Executive (1997-2002), a trustee of Somerset House, and he is a former Disability Rights Commissioner and trustee of the charity Save the Children. Earlier in his career Mr Strachan was an investment banker with Merrill Lynch for 13 years, latterly as a Board member of Merrill Lynch International. This information is provided by RNS The company news service from the London Stock Exchange END BOAWUUACAUPMGMU
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