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14 May 2013
Severn Trent Plc ("Severn Trent")
Rejection of proposal
Further to our announcement of 14 May regarding an approach by a consortium comprising Borealis Infrastructure Management Inc., the Kuwait Investment Office and Universities Superannuation Scheme Limited (together, the "Consortium"), representatives of Severn Trent met representatives of the Consortium today for the first time.
At that meeting, a conditional proposal was tabled by the Consortium (the "Proposal") at only a modest premium to the share price before the announcement of 14 May. The Board of Severn Trent has reviewed the Proposal with its advisers and concluded that it completely fails to recognise the existing and potential value of Severn Trent.
Accordingly the Board has informed the Consortium that it has rejected the Proposal.
Enquiries:
Tulchan
Andrew Grant +44 (0) 20 7353 4200
David Shriver
