LONDON -(Dow Jones)- Telecom Plus PLC (TEP.LN), a company engaged in the supply of fixed telephony, mobile telephony, gas, electricity and Internet services to residential and small business customers, said Monday that the call option, under which International Power PLC (IPR.LN) had the right to increase its shareholding in Opus Energy from 30% to 100%, has expired.
MAIN FACTS:
-Opus Energy continues to perform strongly and in line with management expectations, and its profits for the first quarter of the current year (to 30 June 2009) are significantly ahead of the corresponding period last year.
-Telecom expects Opus to pay a final dividend shortly in respect of its previous financial year of around GBP2 per share; this would equate to a cash receipt of GBP700,000 by Telecom plus PLC in relation to our 20% shareholding in Opus Energy.
-Opus Energy expects International Power to retain its substantial shareholding in the company for the foreseeable future.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com