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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kelda Grp. | LSE:KEL | London | Ordinary Share | GB00B1KQN728 | ORD 20 2/9 P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,089.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Recommended Proposals for the acquisition of Kelda Group plc ("Kelda") by Saltaire Water Limited ("Saltaire Water") Information for holders of bonds issued by members of the Kelda group Earlier today, the Board of Saltaire Water and the Board of Kelda announced that the Schemes of Arrangement to effect the recommended Proposals by which all of the issued and to be issued share capital of Kelda will be acquired by Saltaire Water have now become effective in accordance with their terms. The change of control has no direct impact on any of the terms and conditions of the outstanding bonds issued by members of the Kelda group. All such bonds are and continue to be guaranteed by Yorkshire Water Services Limited. Fitch Ratings have maintained the bonds' ratings at A-, on Rating Watch Negative. Moody's Investor Service have reduced the ratings by one notch from A2 to A3, on review for possible downgrade. Standard and Poor's placed the bonds on CreditWatch Negative on 23 November 2007 with a rating of A-. Saltaire Water, together with existing management, will be reviewing alternative financing structures in the course of the next few months. Saltaire Water considers bondholders to be important stakeholders of the Kelda group and expects to invite discussions with bondholders in due course should any major financial restructuring be proposed. Saltaire Water and Kelda will continue to keep the Ratings Agencies and OFWAT informed of all progress and relevant developments. Enquiries; Ian Leece, Kelda Group plc. 01274 804 106 END
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