OFT Approval and Listing

RNS Number : 6724V

Telecom Plus PLC

16 December 2013

 

Telecom Plus PLC (the "Company")

OFT Approval and Listing

Telecom Plus PLC (trading as the Utility Warehouse), which supplies a wide range of utility services (gas, electricity, fixed line telephony, mobile telephony and broadband internet) to both residential and business customers, notes the announcement earlier today by the Office of Fair Trading (the "OFT") confirming that it does not propose to refer the acquisition of Electricity Plus Supply Limited and Gas Plus Supply Limited from Npower Limited (the "Acquisition") to the Competition Commission.

Following the announcement from the OFT, the Acquisition remains subject only to Admission and therefore application has today been made to the UK Listing Authority for the listing of, and to the London Stock Exchange for the admission of, 8,813,560 ordinary shares of 5 pence each ("Ordinary Shares"). Following Admission the total number of voting rights in the Company will be 79,728,197 assuming that no Ordinary Shares are issued as a result of the exercise of any options under the Share Schemes between now and Admission. Admission is expected to become effective on 20 December 2013.

The total number of voting rights in Telecom Plus PLC following Admission will be 79,728,197 assuming that no further Ordinary Shares are issued as a result of the exercise of any options under the Share Schemes. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Telecom Plus PLC, under the Disclosure and Transparency Rules. There are currently no shares held in treasury. There are 500,000 Ordinary Shares in Telecom Plus PLC held in the Telecom Plus PLC JSOP Share Trust on which voting rights have been waived. These shares are included in the above total voting rights figure.

Unless otherwise defined in this announcement, capitalised terms shall have the meaning given to them in the Prospectus issued to shareholders on 20 November 2013.

For further information, please contact:

Telecom Plus PLC

David Baxter                                                                           [phone]

Peel Hunt LLP                                                                         [phone]

Dan Webster

Richard Brown

 

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