Members attending the Company’s Annual General Meeting held on 10 June 2011 voted unanimously in favour of all resolutions put to the meeting, including special resolutions to restructure the share capital of the Company by the conversion of reserves into share capital by way of a bonus issue and the division of equity shares into smaller denominations. For full details of the resolutions put to the meeting together with the background and explanatory notes, please see the documentation sent to shareholders on 21 April 2011.
As reported previously, this restructuring has not changed the percentage holding by the States of Jersey or other equity shareholders. Shares in Jersey Water will continue to be traded on a matched bargain basis through Standard Bank Stockbrokers.
Replacement share certificates will be issued to all Ordinary Shareholders by 30 June 2011. Ordinary shareholders are advised that their existing certificates for £1 Ordinary shares are no longer valid and that they may be destroyed on receipt of the certificate for the new £0.50 Ordinary shares. The old share certificates do not need to be returned to the Company.
The Members attending also voted unanimously in favour of the Board’s recommendation of a final net dividend of 224 pence per Ordinary and A Ordinary share and the dividends were subsequently paid on 14 June 2011.
For further information, please contact:
Managing Director & Engineer