REG - Thames Wtr Util. Ltd Thames Wtr.Utltes. Thames Water(Kemble) - USS to increase shareholding in Thames Water
03/12/2021 17:20
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211203:nRSC5760Ua&default-theme=true RNS Number : 5760U Thames Water Utilities Limited 03 December 2021 FOR IMMEDIATE RELEASE, 3 December 2021 USS to increase shareholding in Thames Water Utilities Limited Universities Superannuation Scheme Limited (USS), the sole corporate trustee of one of the UK's largest pension funds, has agreed to acquire an additional 8.77% in Kemble Water Holdings Limited, the ultimate holding company of Thames Water Utilities Limited (Thames Water), from investors Wren House Infrastructure LP. This will take USS's holding to nearly 20% in the company. USS first became an investor in Thames Water in 2017, attracted by the opportunity to support the long-term investment needs of the business. They are an experienced investor in regulated infrastructure assets, with existing investments in both Heathrow Airport Holdings Limited and NATS in the UK as well as other regulated assets around the world. Thames Water launched its turnaround plan earlier this year and have a new Executive leadership team in place, with a focus on improving customer service, reducing complaints, investing in its infrastructure, reducing leaks and working towards net zero. Ian Marchant, Chairman, Thames Water said: "This increase in investment is testament to the company's commitment to develop a long-term strategy to ensure a resilient water and waste service for generations to come. With a new experienced leadership team ready to turnaround the business, we are determined to become a water company our stakeholders, customers and employees can be truly proud of. Being innovative is important to our success and it's something we've been particularly focused on alongside investing in the company's infrastructure, customers, and our responsibility to the natural environment. We look forward to working with USS, alongside our other shareholders, to support the executive team to ensure Thames Water becomes a high performing company." ENDS For investor enquiries: Tom Bolton Tom.bolton@thameswater.co.uk For media enquiries: Suvra Jans suvra.jans@thameswater.co.uk About Thames Water Thames Water is the UK's biggest water and wastewater services provider. Our key workers provide essential services around the clock to 15 million customers across London, the Thames Valley and surrounding areas. For an average of just over £1 a day for our households, we provide 2.6 billion litres of drinking water and safely remove 4.7 billion litres of wastewater every day. We invested more than £1 billion again in 2020/21, leading to a total of £20 billion in the past 20 years, and we will continue to spend wisely on improving resilience, service and efficiency, as well as provide more support for customers in vulnerable circumstances. We also have additional responsibilities to society and the natural environment. What we do and how we do it delivers significant public value, which is why we have ambitious plans to self-generate more of our own power, reduce our carbon emissions and increase biodiversity across our sites. 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 (mailto:rns@lseg.com) or visit www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy) . END MSCFLFLRFVLVIIL