National Grid PLC Results of General Meeting (3357W)
April 22 2021 - 7:30AM
UK Regulatory
TIDMNG.
RNS Number : 3357W
National Grid PLC
22 April 2021
National Grid plc
22 April 2021
FOR IMMEDIATE RELEASE
National Grid plc ('National Grid' or the 'Company')
Proposed acquisition of Western Power Distribution
Results of General Meeting
The Company today held a general meeting ('General Meeting') in
relation to the proposed acquisition of PPL WPD Investments
Limited, the holding company of Western Power Distribution - the
UK's largest electricity distribution business (the 'WPD
Acquisition') at 12pm at 1 - 3 Strand, London, WC2N 5EH .
The resolutions proposed at the General Meeting were decided on
a poll and were passed. The results are set out below.
As previously announced, completion of the WPD Acquisition
remains subject to the satisfaction or waiver of the conditions
summarised in the circular published in connection with the WPD
Acquisition. The WPD Acquisition is expected to complete by the end
of July 2021.
The results are set out below:
Resolution Votes For Votes Against Total Votes** % of Issued Votes
For* (% of Against (% of Share Capital Withheld****
shares shares voted***
voted) voted)
To approve
the
acquisition
of PPL
WPD
Investments
1. Limited 2,211,236,176 95.48 104,567,451 4.52 2,315,803,627 65.22 18,501,925
--------------- -------------- -------- ------------ -------- ------------- -------------- ---------------
To approve
an increased
borrowing
2. limit 2,305,719,364 99.62 8,782,724 0.38 2,314,502,088 65.18 19,800,473
--------------- -------------- -------- ------------ -------- ------------- -------------- ---------------
* Any votes that give discretion to the Chairman have been
included in the 'For' total.
** Excludes Votes Withheld.
*** At close of business on Tuesday 20 April 2021 there were
3,550,669,831 Ordinary Shares in issue (excluding treasury
shares).
**** A 'Vote Withheld' is not a vote in law and is not counted
in the calculation of the votes 'For' or votes 'Against' a
resolution.
As required by the Listing Rules of the Financial Conduct
Authority, copies of the resolutions have been submitted to the
Financial Conduct Authority via the National Storage Mechanism and
will shortly be available to
the public for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
The complete poll results and details of proxy votes lodged
before the meeting will be available shortly on the Company's
website
https://www.nationalgrid.com/investors/shareholder-information/agm
CONTACTS
Investors and Analysts
+44 (0) 7814 355
Nick Ashworth 590
+44 (0) 7825 351
Angela Broad 918
+44 (0) 7970 778
James Flanagan 952
+44 (0) 7899 928
Jonathan Clay 247
Media
+44 (0) 7583 102
Molly Neal 727
Surinder Sian +44 (0) 7812 485153
Teneo (Financial PR Advisor to the Company)
+44 (0) 7703 330
Charles Armitstead 269
Cautionary statement
This announcement is not intended to, and does not constitute,
or form part of, any offer to sell or an invitation to purchase or
subscribe for any securities or a solicitation of any vote or
approval in any jurisdiction. The information contained in this
announcement is not for release, publication or distribution to
persons in any jurisdiction where to do so might constitute a
violation of local securities laws or regulations. Shareholders are
advised to read the whole of the Circular with care.
Neither the content of National Grid's website nor any website
accessible by hyperlinks on National Grid's website is incorporated
in, or forms part of, this announcement.
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END
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