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Pennon Group PLC (PNN)

  Print      Mail a friend       Annual reports

Friday 28 July, 2006

Pennon Group PLC

Ordinary Share Subdivision

Pennon Group PLC
28 July 2006



At the Annual General Meeting of Pennon Group Plc held on 27 July 2006
shareholders approved the subdivision of the Company's ordinary shares by way of
a three for one share split such that each existing ordinary share of 122 1/10p
will be divided into three new ordinary shares of 40.7p each.

The 118,363,847 existing issued ordinary shares of 122 1/10p each held at the
close of business on 28 July 2006 will be divided into 355,091,541 new ordinary
shares of 40.7 pence each.  It is expected that the new ordinary shares will be
admitted to the Official List of the UK Financial Services Authority and will
commence trading on the London Stock Exchange at 8.00 a.m. on 31 July 2006.  The
unissued ordinary share capital will at the same time be divided into new
ordinary shares of 40.7p each resulting in a total authorised share capital of
429,975,270 new ordinary shares of 40.7p each.

Application has also been made to the UK Financial Services Authority and the
London Stock Exchange for a blocklisting totalling 349,665 new ordinary shares
of 40.7 pence each to trade on the London Stock Exchange and to be admitted to
the Official List.

The blocklisting is to replace an existing blocklisting authority already in
place consisting of ordinary shares to be issued under the Pennon Group All
Employee Sharesave Scheme.

Further details of the share split are contained in the Notice of Annual General
Meeting dated 22 June 2006 which was sent to shareholders on 26 June 2006.

Consequent upon the share split and as approved by shareholders at the Annual
General Meeting on 27 July 2006 the final dividend for the year ended 31 March
2006 will be 11.7 pence per new ordinary share payable on 3 October 2006 to
shareholders on the register on 4 August 2006. This is equivalent to the
recommended final dividend of 35.1 pence on the ordinary shares prior to the
three for one share split which was announced by the Company with its
preliminary results on 1 June 2006.

For further information please contact:

Pennon Group Plc
David Dupont                                                       01392 443 998
Jo Finely                                                          01392 443 401

Merrill Lynch International
Michael Findlay                                                    0207 996 1000
Chris Snoxall

Merrill Lynch International is acting as financial adviser and corporate broker
to Pennon and is acting for no-one else in connection with the subdivision and
will not be responsible to anyone other than Pennon for providing the
protections afforded to customers of Merrill Lynch International nor for
providing advice in connection with the subdivision or the contents of this
document or any other matter referred to herein.

28 July 2006

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