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Results of the Placing Severn Trent announces the successful pricing of the non-pre-emptive placing of new ordinary shares in the capital of the Company announced earlier today (the Placing ). A total of 10,126,366 new ordinary shares in the capital of the Company (the Placing Shares ) have been placed by Merrill Lynch International ( BofA Securities ) and Morgan Stanley & Co. International ( Morgan Stanley , and together with BofA Securities, the Joint Bookrunners and Joint Corporate Brokers ) , at a price of 2,400 pence per Placing Share (the Placing Price ). Concurrently with the Placing , retail investors have subscribed in the offer made by the Company via the PrimaryBid platform for a total
Severn Trent welcomes Ofwat s announcement that it has received regulatory endorsement to invest £565million (2017/18 prices) in an ambitious Green Recovery programme to support the UK s green economic bounceback and create 2,500 new jobs in the Midlands.
The Regulator challenged all water companies to support the UK s green recovery post-pandemic. Today s announcement provides Severn Trent with a great opportunity to deliver additional long-term growth, with new investment over the next four years supporting the Company s ESG ambitions.
The Company will now be working through the detail of Ofwat s response to its plans. Once finalised, the Green Recovery will enable Severn Trent to lead the way in a number of projects, many of which will be a first for the UK, all of which will involve additional investment and the creation of new jobs. The projects, which were praised for being innovative, will benefit both local communities and the environment, and will be delivered