Thames Water Utilities Limited

Legal Proceedings Report • Jan 31, 2025

National Storage Mechanism | Additional information

RNS Number : 5220V

Thames Water Utilities Limited

31 January 2025

Thames Water Utilities Limited

31 January 2025

Liquidity Extension Update - Sanction Hearing

Thames Water Utilities Limited ("TWUL") confirms details of the sanction hearing (the "Sanction Hearing") in relation to the restructuring plan proposed by Thames Water Utilities Holdings Limited (the "Plan Company") pursuant to Part 26A of the Companies Act 2006 (the "Plan") in connection with implementing the liquidity extension transaction.

Details of the Sanction Hearing are as follows:

Start Date : 3 February 2025

Time : 10:00 am (London time)

Location : 7 Rolls Buildings, Fetter Lane, London EC4A 1NL

The Sanction Hearing is scheduled to start on 3 February 2025 and is anticipated to run to 6 February 2025, although the Sanction Hearing may be extended in the event that the Court considers an extension to the Sanction Hearing timetable to be necessary.

At the Sanction Hearing, the Court will consider whether to grant an order to sanction the Plan.

Julian Gething, TWUL's Chief Restructuring Officer said, "Our plan remains the only implementable solution to putting the business on a firmer financial footing.  Its approval will not affect customer bills but will unlock billions of pounds for investment in our network, fixing pipes, upgrading our sewage treatment works and maintaining high-quality drinking water."

The creditors affected by the Plan ("Plan Creditors") have the right to attend in person or through counsel and make representations at the Sanction Hearing.

The time of the Sanction Hearing will also be posted on the Plan website ( https://deals.is.kroll.com/thameswater ).

Plan Creditors should contact the Information Agent appointed for the Plan at [email protected] with any questions on this notice.

For further information

Investor enquiries

Frederick Maroudas - Director of Corporate Finance

[email protected]

Media enquiries

Simon Haynes - Media Relations Manager

[email protected]

M:  07747644910

Alex Simmons

[email protected]  

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 [email protected] or visit 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.

END

UPDEFLFXEFLEBBE