Severn Trent Plc - Annual Report and Annual General Meeting
Severn Trent Plc (the "Company") released its preliminary announcement of annual results on 21 May 2019 ("Preliminary Results Announcement").
Further to that announcement, the Company can now confirm that the Annual Report and Accounts for the year ended 31 March 2019 are available on the Company's website (at www.severntrent.com) and that the 2019 Annual General Meeting ("AGM") will be held at 11am on 17 July 2019 at the Ricoh Arena, Phoenix Way, Coventry CV6 6GE.
The Company further confirms that copies of the following documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.morningstar.co.uk/uk/
· Annual Report and Accounts 2019;
· Notice of AGM; and
· Form of Proxy.
The Annual Report and Accounts, together with the Notice of AGM and Form of Proxy were posted to shareholders on 13 June 2019.
The Notice of Annual General Meeting is available to view here:
https://www.severntrent.com/shareholder-resources/shareholder-meetings
These documents (with the exception of the Form of Proxy) are available on the Company's website at www.severntrent.com.
The Annual Report and Accounts 2019 for Severn Trent Water Limited will shortly be available to view on Severn Trent Water's website at www.stwater.co.uk.
The Appendix to this announcement contains additional information for the purposes of compliance with the Disclosure and Transparency Rules and should be read together with the Preliminary Results Announcement which included, inter alia, a condensed set of the Company's financial statements and extracts from the management report. Together these constitute the information required by DTR 6.3.5 to be communicated to media in full unedited text. This announcement should be read in conjunction with and is not a substitute for reading the full Annual Report and Accounts 2019.
The responsibility statement set out in the Appendix is repeated here solely for the purpose of complying with DTR 6.3.5. The responsibility statement relates to and is extracted from page 128 of the Annual Report and Accounts 2019. Responsibility is for the full Annual Report and Accounts 2019 not the extracted information presented in this announcement and the Preliminary Results Announcement.
Please note the below revised timetable for the 2019/20 interim dividend:
Ex Dividend Date (Final) |
13 June 2019 |
Record Date (Final) |
14 June 2019 |
AGM |
17 July 2019 |
Q1 Trading Update |
17 July 2019 |
Dividend Payment Date (Final) |
19 July 2019 |
Half Year Results Announcement 2019/20 |
21 November 2019 |
Ex Dividend Date (Interim) |
28 November 2019 |
Record Date (Interim) |
29 November 2019 |
Dividend Payment Date (Final) |
3 January 2020 |
Appendix
Directors' responsibility statement
The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors are required to prepare the Group financial statements in accordance with International Financial Reporting Standards ('IFRSs') as adopted by the European Union and Article 4 of the IAS Regulation and have elected to prepare the Company financial statements in accordance with United Kingdom Generally Accepted Practice (United Kingdom Accounting Standards and applicable law) including FRS101 'Reduced Disclosure Framework'. Under company law the Directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing the parent company financial statements, the Directors are required to:
· select suitable accounting policies and then apply them consistently;
· make judgements and accounting estimates that are reasonable and prudent;
· state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
· prepare the financial statements on the Going Concern basis unless it is inappropriate to presume that the Company will continue in business.
In preparing the Group financial statements, International Accounting Standard 1 requires that Directors:
· properly select and apply accounting policies;
· present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information;
· provide additional disclosures when compliance with the specific requirements in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity's financial position and financial performance; and
· make an assessment of the Company's ability to continue as a Going Concern.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Responsibility statement
Each of the Directors confirm that to the best of their knowledge:
· the financial statements, prepared in accordance with the relevant financial reporting framework, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation taken as a whole; and
· the Strategic report includes a fair review of the development and performance of the business and the position of the Company and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.
· the Annual Report and financial statements, taken as a whole, are fair, balanced and understandable and provide the information necessary for shareholders to assess the Company's position and performance, business model and strategy.
