REG - SW (Finance) I PLC - Scheme of arrangement

MacquarieAnnouncement

10/10/2025 18:00

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RNS Number : 9791C  SW (Finance) I PLC  10 October 2025

ANNOUNCEMENT OF THE SCHEME EFFECTIVE DATE

 

SW (FINANCE) I PLC

Released 10 October 2025

SW (Finance) I PLC

10 October 2025

 

On 9 October 2025, SWS Holdings Limited (the "Scheme Company"), the proposed
scheme of arrangement under Part 26 of the Companies Act 2006 proposed by the
Scheme Company in relation to the Scheme Creditors (the "Scheme")
substantially in the form tabled at, and approved by, the Scheme Creditors at
the four Scheme Meetings which took place in accordance with the Convening
Order on 30 September 2025, was sanctioned by an order made by Mr Justice
Richards, sitting in the High Court of Justice of England and Wales (the
"Court"), on 9 October 2025 (the "Sanction Order").

Notice is hereby given that, pursuant to the Scheme, the Scheme Effective Date
has occurred today, 10 October 2025, following the delivery of an office copy
of the sealed Sanction Order to the Registrar of Companies for registration of
the Scheme.

Pursuant to the Scheme, the Scheme CTA Amendment Agreement will be entered
into by the Scheme Company, SWS and the Security Trustee.

The Scheme Company shall, and the Scheme Company shall procure that SWS will,
use reasonable endeavours to ensure that, insofar as it is within its control
to do so, each of the Transaction Effectiveness Conditions under the Scheme
CTA Amendment Agreement are satisfied in accordance with the terms of the
Scheme CTA Amendment Agreement prior to the Condition Satisfaction Longstop
Time.

The Scheme forms part of the group's broader recapitalisation to, amongst
other things, provide equity to SWS from a consortium led by funds managed by
Macquarie Asset Management to support SWS' AMP8 investment programme. This
comprises a legally binding equity commitment of £655 million, provided on
the terms of an equity commitment letter, and a confirmation of intent to
provide further equity commitments of up to an additional £545 million, with
a minimum of £245 million, by December 2025.

Capitalised terms used but not defined in this announcement shall have the
meaning given to them in the Scheme.

For further information, please contact Stuart Ledger (Group CFO) at:

Address:          Southern House, Yeoman Road, Worthing, BN13 3NX,
United Kingdom

Tel:                  01903 272 611

Email:              stuart.ledger@southernwater.co.uk
(mailto:stuart.ledger@southernwater.co.uk)

 

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announcement constitutes an offer of securities for sale in the United States
or any other jurisdiction. This announcement does not constitute a prospectus
or a prospectus equivalent document.

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