REG - Severn Trent PLC - Severn Trent submits PR24 Business Plan

Severn TrentAnnouncement

02/10/2023 07:00

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RNS Number : 2642O  Severn Trent PLC  02 October 2023

 

Severn Trent submits PR24 Business Plan

 

Severn Trent Plc announces that the Business Plan for Severn Trent Water for
the regulatory period beginning 1 April 2025 and ending 31 March 2030 ("AMP8")
has now been submitted to Ofwat.

 

We're pleased to be able to submit this ambitious plan that will invest £12.9
billion to deliver benefits for our customers, the environment, the region and
shareholders, underpinned by a £550 million affordability package and strong
shareholder support following a successful £1 billion equity raise.

 

Full details of the plan can be found at:
www.stwater.co.uk/about-us/our-plans-2025-2030/
(http://www.stwater.co.uk/about-us/our-plans-2025-2030/)

 

Previously published materials including an investor summary of the plan and
investor presentation can be found at: www.severntrent.com/investors/
(http://www.severntrent.com/investors/)

 

Capital Markets Day

 

On 12 October 2023 we will bring our plan to life at our Capital Markets Day
in Coventry City Centre.

 

If unable to join us in person, video content will be made available online
following the event, and you can register for a virtual Q&A with Liv
Garfield, CEO, and Helen Miles, CFO, which are taking place:

-     16 October 16:00 BST

-     18 October 07:00 BST

To register or find out more please contact
investorrelations@severntrent.co.uk
(mailto:investorrelations@severntrent.co.uk) .

 

 

Enquiries

 Investors & Analysts
 Rachel Martin               Severn Trent Plc  +44 (0) 7824 624 011
 Head of Investor Relations

 Media
 Jonathan Sibun              Teneo             +44 (0) 207 353 4200
 Press Office                Severn Trent Plc  +44 (0) 247 771 5640

 

Important notices

This announcement does not constitute or form part of, and should not be
construed as, any offer, invitation or recommendation to purchase, sell or
subscribe for any securities in any jurisdiction. Securities may not be
offered, sold or transferred in the United States absent registration or an
applicable exemption from the registration requirements of the US Securities
Act of 1933 (as amended) (the "Securities Act"). The securities of the Company
have not been and will not be registered under the Securities Act. This
announcement does not purport to contain all of the information that may be
required to evaluate any investment in Severn Trent Plc or any of its
securities and should not be relied upon to form the basis of, or be relied on
in connection with, any contract or commitment or investment decision
whatsoever.

The information and opinions contained in this announcement are provided as at
the date of this announcement, have not been independently verified and are
subject to change without notice.

This announcement contains statements that are, or may be deemed to be,
'forward-looking statements' with respect to Severn Trent's financial
condition, results of operations and business and certain of Severn Trent's
plans and objectives with respect to these items.

Forward-looking statements are sometimes, but not always, identified by their
use of a date in the future or such words as 'anticipates', 'aims', 'due',
'could', 'may', 'will', 'would', 'should', 'expects', 'believes', 'intends',
'plans', 'projects', 'potential', 'reasonably possible', 'targets', 'goal',
'estimates' or words with a similar meaning, and, in each case, their negative
or other variations or comparable terminology. Any forward-looking statements
in this announcement are based on Severn Trent's current expectations and, by
their very nature, forward-looking statements are inherently unpredictable,
speculative and involve risk and uncertainty because they relate to events and
depend on circumstances that may or may not occur in the future.

Forward-looking statements are not guarantees of future performance and no
assurances can be given that the forward-looking statements in this
announcement will be realised. There are a number of factors, many of which
are beyond Severn Trent's control that could cause actual results, performance
and developments to differ materially from those expressed or implied by these
forward-looking statements. These factors include, but are not limited to: the
Principal Risks disclosed in our latest Annual Report and Accounts (which have
not been updated since the date of its publication); changes in the economies
and markets in which the group operates; changes in the regulatory and
competition frameworks in which the group operates; the impact of legal or
other proceedings against or which affect the group; and changes in interest
and exchange rates.

All forward-looking statements made in this announcement which are
attributable to Severn Trent or any other member of the group or persons
acting on their behalf are expressly qualified in their entirety by the
factors referred to above. The final PR24 Business Plan is subject to approval
by Ofwat and there can be no assurance that the PR24 Business Plan will be
approved, in whole or in part, and, as a result, no assurances can be given
that the forward-looking statements in this announcement will be realised.
This announcement speaks as at the date of publication. Save as required by
applicable laws and regulations, Severn Trent does not intend to update any
forward-looking statements and does not undertake any obligation to do so.
Past performance of securities of Severn Trent Plc cannot be relied upon as a
guide to the future performance of securities of Severn Trent Plc. Nothing in
this announcement should be regarded as a profit forecast.

Certain information contained herein is based on management estimates and
Severn Trent's own internal research. Management estimates have been made in
good faith and represent the current beliefs of applicable members of Severn
Trent's management. While those management members believe that such estimates
and research are reasonable and reliable, they, and their underlying
methodology and assumptions, have not been verified by any independent source
for accuracy or completeness and are subject to change without notice, and, by
their nature, estimates may not be correct or complete. Accordingly, no
representation or warranty (express or implied) is given to any recipient of
this announcement that such estimates are correct or complete.

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