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38LO Bazalgette 54

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Name Symbol Market Type
Bazalgette 54 LSE:38LO London Medium Term Loan
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 0 -

Bazalgette Finance PLC Annual Financial Report (3910K)

25/08/2023 7:00am

UK Regulatory


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RNS Number : 3910K

Bazalgette Finance PLC

25 August 2023

25 August 2023

Bazalgette Finance plc

PUBLICATION OF ANNUAL REPORT

Publication of Annual Report and Financial Statements for year ended 31 March 2023

Bazalgette Finance plc announces that the Annual Report and Financial Statements for the year ended 31 March 2023 for Bazalgette Finance Plc, Bazalgette Holdings Limited and Bazalgette Tunnel Limited have been published.

Copies of the accounts have also been submitted to the National Storage Mechanism and are available for inspection at:

http://www.rns-pdf.londonstockexchange.com/rns/3910K_1-2023-8-24.pdf

http://www.rns-pdf.londonstockexchange.com/rns/3910K_2-2023-8-24.pdf

http://www.rns-pdf.londonstockexchange.com/rns/3910K_3-2023-8-24.pdf

Tideway's report confirms that the capital cost of the project remains GBP4.5bn, as reported in April, while the cost of the project to water bill payers remains well within the original estimate set at the beginning of the project in 2015.

Several milestones were achieved during the year including completion of primary tunnelling works; completion of secondary lining of the west and central sections of the tunnel; and completion of shaft cover slabs at five sites. The removal of temporary river structures began in earnest and worksite system acceptance tests were carried out at three sites in preparation for system commissioning.

Tideway Chair Sir Neville Simms said: "The past 12 months on the Tideway project have seen the most significant change in focus since we started work - with the construction phase nearing completion and attention turning to testing this new and vital infrastructure."

"As we look forward to bringing the system on-line next year, our delivery model - which encourages long-term private investment in infrastructure - is showing its worth in delivering value for all stakeholders."

The company is preparing to commission the new infrastructure in 2024, when it will start protecting the River Thames from sewage pollution for the first time. The system is due to be fully operational in 2025 when an estimated 95 per cent of sewage overflows will be prevented from spilling into the tidal Thames.

For further information, please contact:

investor.relations@tideway.london

press@tideway.london

James Carew

Tel: 0203 009 0257

Mob: 07989 653050

Bazalgette Finance plc

Cottons Centre

Cottons Lane

London

SE1 2QG

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACSUSRNROUUWUAR

(END) Dow Jones Newswires

August 25, 2023 02:00 ET (06:00 GMT)

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