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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pennon Group Plc | LSE:PNN | London | Ordinary Share | GB00BNNTLN49 | ORD 61 1/20P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 3.00 | 0.73% | 415.80 | 1,675,637 | 16:35:18 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 411.60 | 412.00 | 414.60 | 405.00 | 411.20 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Sewerage Systems | 907.8M | -9.5M | -0.0332 | -124.10 | 1.18B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:18 | O | 1,711 | 415.80 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 13/3/2025 | 07:00 | UK RNS | Pennon Group PLC Capital Markets Day |
| 07/3/2025 | 14:55 | UK RNS | Pennon Group PLC Holding(s) in Company |
| 05/3/2025 | 09:29 | UK RNS | Pennon Group PLC Holding(s) in Company |
| 03/3/2025 | 16:22 | UK RNS | Pennon Group PLC Holding(s) in Company |
| 03/3/2025 | 07:00 | UK RNS | Pennon Group PLC Total Voting Rights |
| 27/2/2025 | 11:50 | UK RNS | Pennon Group PLC Holding(s) in Company |
| 27/2/2025 | 11:28 | UK RNS | Pennon Group PLC Holding(s) in Company |
| 27/2/2025 | 11:26 | UK RNS | Pennon Group PLC Holding(s) in Company |
| 25/2/2025 | 13:56 | ALNC |  Pennon CEO admits "devastating" impact of parasite outbreak; pay rises |
| 21/2/2025 | 15:56 | UK RNS | Pennon Group PLC Holding(s) in Company |
Pennon (PNN) Share Charts1 Year Pennon Chart |
|
1 Month Pennon Chart |
Intraday Pennon Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 11/3/2025 | 16:38 | Pennon into orbit ? | 1,427 |
| 22/1/2022 | 20:19 | Pennon - South West Water & Viridor Waste | 156 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 16/3/2025 08:20 by Pennon Daily Update Pennon Group Plc is listed in the Sewerage Systems sector of the London Stock Exchange with ticker PNN. The last closing price for Pennon was 412.80p.Pennon currently has 286,043,081 shares in issue. The market capitalisation of Pennon is £1,178,497,494. Pennon has a price to earnings ratio (PE ratio) of -124.10. This morning PNN shares opened at 411.20p |
Posted at 11/3/2025 16:38 by 1knocker Yes that's right.The price movement here was rather extreme. Immediately after the rights were issued they could have been sold for a lot more than the rump sale price yielded. |
Posted at 19/2/2025 12:30 by kinwah I've bought some at around 451.6p which is a discount on the rump placing price of 460p. I think the technical situation of shorts being closed is now finished and the shares may tread water for a while but they still represent a solid investment around this price. Not quite the recent bottom but not bad. |
Posted at 05/2/2025 16:53 by 1knocker Kinwah, correct. I somewhat over-simplified the underwriting position. The effect on the share price of a 'rump' sale and underwriters unloading shares they have been landed with is usually much the same.I don't understand why it is necessary to get a rights issue underwritten when it is as deeply discounted as this. An unnecessary expense I would have thought, albeit a small one I hope, as the risk to the underwriters is small. The strategy you describe at the end of your post is colloquially (and picturesquely) known as 'swallowing yiur tail' I believe. I have no yet finally mae up my mind what to do. On the one hand I am not over-impressed wit the company or the sector (both of which are also political whipping boys). On the other it is unpopular and unfashionable, but provides an essential service requiring capex the governmemt can't afford to fund, so its share price price is relatively low and likely to increase if it makes even a half decent fist of the business. Also if the economy does turn down and /or inflation hots up, the inflation adjusted return on capital it is allowed should continue to sustain a fairly good (and increasing) dividend.Probably I will take up my rights. |
Posted at 05/2/2025 14:35 by kinwah 1knocker, let me correct you. If the some of the rights shares are not taken up but the share price remains well above 264p then the underwriters are not involved, it is the company itself which organises a placing of what is called the 'rump'. The rump is placed with friendly institutions at maybe 10p below the market price to ensure keen take up. Should China invade Taiwan or something else to shock world markets and the PNN price drops below 264p then the underwriters will be called to take up the shares not subscribed for. The broker then organises a placing for the underwriters who don't want to hold their shares. This is a placing of the 'stick', i.e. the shares left with the underwriters. My advice for PNN shareholders is that PNN is attractive on a medium term basis but I'd expect the shares to drift now until the rights payment is due as people try and raise money to take up the rights. The National Grid rights issue being a similar heavy rights issue is a good guide. I sold all my PNN in my trading account cum-rights as there were short positions being closed which had pushed the price up. My long term holding I also reduced sharply cum-rights but will take up my rights and look to buy more especially if the price falls ahead of the last day of trading in the new shares. The lowest price PNN reaches is likely to be when the rump is placed. We little shareholders can't access the rump placing but the day it happens or sometimes the day after can be the best time for us to pick up cheap shares as traders take a turn on the rump shares they acquire. If I held a small amount of PNN today and was unsure what to do and didn't want to invest extra cash then I might sell enough old PNN shares now and use the money to take up the rights in full. It's a well-worn strategy but not a bad one nonetheless. Good luck all! |
Posted at 04/2/2025 13:55 by 1knocker Some people will not take up all /any of their rights and they will be sold in the market by the underwriters, others will take them up and subsequently sell some or all of them. So there will be plenty of shares sold in market after the issue completes. That will probably cause the price to dip a bit initially, with the price settling down within a couple of weeks.The best indication of the likely post rights price is probably the current (ex div and ex rights) price of the shares currently in issue. A rough indication of what you can expect to get if you allow the rights to lapse is a penyn or two below the current price of the shares in issue less the price payable to take up the rights. All these prices (except the rights exercise price which is fixed) will probably fluctuate quite a bit over the next few days as the market does its arithmetic, especialy as regards the proposed post rights dividend regime. |
Posted at 03/2/2025 12:54 by bertiebingo Buying rights means you commit more of your money so you need to have a positive view on the share price going forward. Selling means you get some cash out and reduce your exposure. |
Posted at 03/2/2025 10:42 by blobby The LSE ticker for the Pennon rights issue is PNNN. The cost of taking up the right for a new share is 264p and the rights are currently trading at 185p. |
Posted at 30/1/2025 22:23 by chozza Significantly underwater on current price. Looks as if div will be cut. Only bought for div so plan to sell my rights at a price I guess to be about £3.00 though this will change depending on share price movement over the next few days. Water companies no longer a sector I want to be in. |
Posted at 30/1/2025 18:18 by neilyb675 The Rights Issue Price represents a discount of 47.3% to the Closing Price of 500.81 pence per Existing Ordinary Share on 28 January 2025 (being the last Business Day before the announcement of the terms of the Rights Issue), adjusted for the 2024 Interim Dividend of 14.69 pence per Existing Ordinary Share which will not be payable on the New Ordinary Shares, and a discount of 35.2% to the theoretical ex-rights price of 407.52 pence per Existing Ordinary Share, by reference to the Closing Price on the same date and adjusted on the same basis. Upon completion of the Rights Issue, the New Ordinary Shares will represent approximately 39.4% of the Company’s enlarged issued ordinary share capital (excluding any shares held in treasury) following the Rights Issue.The Rights Issue Price has been set, following discussions with major Shareholders, at the level which the Board considers necessary to ensure the success of the Rights Issue, taking into account the aggregate proceeds to be raised. The Board believes that the Rights Issue Price, and the discount which it represents, is appropriate. |
Posted at 20/5/2024 20:16 by grabster Compensation claims against South-West Water from Brixham business owners and their insurers are going to be massively bigger than so far acknowledged by Pennon. Many will be claiming for stripping out entire plumbing systems throughout hotels and the like, as the only way of confidently eradicating contamination, rather than accepting a cleansing fee. I agree that the reaction shown by the PNN share price has been pretty remarkable so far, considering that SWW contributes more than four-fifths of Pennon's profits, making this far more than just a brief local issue. |
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