Board leadership, transparency and governance holding company principles. Affinity Water Limited. 31 July 2016
|
|
- Madlyn Long
- 5 years ago
- Views:
Transcription
1 Board leadership, transparency and governance holding company principles 31 July 2016
2 Introduction recognises the importance of demonstrating to customers, regulators and other stakeholders that our holding companies operate to the highest standards of governance and transparency, consistent with Ofwat s publication (April 2014): Board leadership, transparency and governance holding company principles. This document sets out how we meet these principles. We will review it annually. Our UK holding company Our UK holding company, Acquisitions (Investments), together with Infracapital Partners II and North Haven Infrastructure Partners LP have provided legally enforceable undertakings that they will: give such information as may be necessary to enable it to comply with its obligations under the Water Industry Act 1991 and Instrument of Appointment; refrain from any action which would cause to breach any of its obligations under the Water Industry Act 1991 or the conditions of the Appointment; and use their best endeavours to ensure that the Board of maintains not less than three independent non-executive directors, who shall be persons of standing with relevant experience and who shall collectively have connections with and knowledge of the areas for which is a water undertaker and an understanding of the interests of its customers and how these can be respected and protected. The Board of is satisfied that these undertakings are being properly discharged and that is able fully to meet its regulatory obligation to operate its appointed business as if it were substantially its sole business and were a separate listed company. The presence of investor-appointed directors on the Board facilitates holding company understanding of s statutory and regulatory obligations and the provision of any information might need to meet these obligations. Should there be any issues at group level which may impact on, these would be disclosed to the Affinity Water Board. group structure is part of the group of companies. Its immediate parent company is Holdings and its UK holding company is Acquisitions (Investments). The structure of the group of companies is shown in Appendix 1. The role of each of the companies within the Group and their country of registration is shown in Appendix 2.
3 Our owners is owned by a consortium of investors led by Infracapital Partners and North Haven Infrastructure Partners. The effective equity interests in at 31 July 2016 are shown below. We consider Infracapital Partners II and North Haven Infrastructure Partners LP to be our ultimate controllers, as they are in a position to exercise material influence over our policy and affairs. They have provided legally enforceable undertakings to ensure meets its legal and regulatory obligations. Further information on our equity investors is shown below. Infracapital Partners II (35%) Beryl Datura Investment (10%) Infracapital Partners II is one of a number of European infrastructure funds managed by M&G Investment Management, a subsidiary of Prudential plc. It was established in 2010 to make investments in income-generative infrastructure assets and businesses, including electricity and gas networks, water companies, transport infrastructure and renewable energy. It holds its investment in indirectly through Infracapital F2 Rift S.à.r.l., which is a wholly owned subsidiary of Infracapital F2 Rift Holdings S.à.r.l.. Both Infracapital F2 Rift S.à.r.l. and Infracapital F2 Rift Holdings S.à.r.l. are incorporated in Luxembourg. Beryl Datura Investment (BDIL) is a company established by the State Administration of Foreign Exchange of the People s Republic of China. It is managed by Gingko Tree Investments which focuses on investments in real assets such as infrastructure and real estate and is attracted to relatively stable, predictable, long-term investments. It holds its investment in indirectly through Infracapital F2 Rift Holdings S.à.r.l., which is managed by Infracapital Partners II. Partners Group (5%) Partners Group is a global private markets investment management firm. It has investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm is listed on the SIX Swiss Exchange. It holds its investment in the group indirectly through Partners Group Global Infrastructure 2012 LP Inc., incorporated in the United States, and Partners Group Direct Infrastructure 2011 LP, registered in Guernsey. It holds its investment in indirectly through Rift SLP 2 LP, which is managed by Infracapital Partners II. North Haven Infrastructure Partners (40%) North Haven Infrastructure Partners LP is a global infrastructure investment fund managed by Morgan Stanley Infrastructure Inc., part of the investment management division of Morgan Stanley. It was established in 2007 to make investments in core infrastructure assets that provide essential public goods and services to societies across the globe and seeks to improve asset performance using active management. It holds its investment in indirectly through MSIP Dalis B.V., which is incorporated in the Netherlands. Veolia Water UK (10%) Veolia Water UK is incorporated in and is a subsidiary of Veolia Environnement S.A. which is listed on the Paris and New York Stock Exchanges. It holds its investment in through its shareholding in Acquisitions (Holdco) and has established with the group a capability sharing arrangement. This arrangement gives it access to the group s knowhow, experience and expertise while the group has access to Veolia Water s advice on global water technologies and developments. Board leadership, transparency and governance holding company principles 3
4 Debt financing is financially and operationally ring-fenced from the rest of the group as part of a whole business securitisation. The securitisation has further enhanced the ring-fencing provisions already in its licence. The sole business of its immediate holding company, Holdings, is holding the shares of. has two financing subsidiaries which have issued bonds which are listed by the UK Listing Authority ( UKLA ) and the proceeds of which have been lent on to and are guaranteed by Affinity Water : Finance (2004) PLC has issued an external bond of 250m; and Programme Finance has issued external bonds totalling 625m The following chart shows the maturity profile of the bonds at 31 July We believe that the ring-fencing structure provides significant corporate benefits, providing better access to long-term debt markets and an opportunity to reduce the cost of capital employed in the regulated business for the benefit of customers. Bonds issued by both Programme Finance and Finance (2004) PLC are subject to the Listing Rules and Disclosure and Transparency Rules, being listed by the UKLA. Programme Finance is incorporated in the Cayman Islands but resident in the United Kingdom for tax purposes, as the bonds were, in part, used to discharge financing put in place by our investors in 2012 to finance their acquisition of the company. It was not possible for us to establish a UK company to act as issuer. By being resident in the United Kingdom for tax purposes, we are clear that this arrangement does not avoid UK tax and brings no tax benefit. Further, there are no funds which are held off-shore with all finance being raised and held within the United Kingdom. Board leadership, transparency and governance holding company principles 4
5 Holding company directors Infracapital Partners II, North Haven Infrastructure Partners LP and Veolia Water UK have each appointed non-executive directors to the Board of These appointments, together with the limited number of matters reserved by the Board for shareholder approval, help to ensure that is provided with the support from investors necessary to make strategic and sustainable decisions in the long term interests of the regulated business. The directors of s ultimate UK holding company, Acquisitions (Investments) at 31 July 2016 are shown below: Philip Nolan (Chairman)* Michael Bryan Alberto Donzelli Stephen Nelson* Yacine Saidji Bernd Schumacher James Wilmott* Those directors denoted * are also directors of at 31 July Their interests in Acquisitions (Investments) and other group companies are fully disclosed at the level of. Shareholder reserved matters There are a limited number of matters reserved by s Board for shareholder approval. These are set out in s publication: Engaging with our shareholders, available from the Our Governance page of our stakeholder website. Holding company governance Acquisitions (Investments) benefits from the corporate governance arrangements established by, full details of which together with more detailed corporate reporting disclosures can be found in s own annual report available from the Document Centre of our stakeholder website. Board leadership, transparency and governance holding company principles 5
6 APPENDIX 1 AFFINITY WATER GROUP AT 31 JULY 2016 Board leadership, transparency and governance holding company principles 6
7 APPENDIX 2 ROLES OF AFFINITY WATER GROUP COMPANIES AT 31 JULY 2016 The tables below explain the role of each company within the Group, their country of registration and provides cross references to the structure chart in Appendix 1. Companies within the whole business securitisation Name Description Place of registration Programme Finance A water undertaker holding an appointment under the Water Industry Act 1991, supplying water to a population of around 3.5 million people in the southeast of England. It is the principal trading subsidiary of the group. A financing subsidiary of established in 2013 to issue bonds under a Euro Medium Term Note ( EMTN ) programme. It lends monies raised from its bonds to. Cayman Islands Structure chart reference 12 1 Finance (2004) PLC Holdings The company is resident in the United Kingdom for tax purposes and its incorporation in the Cayman Islands (an internationally recognised and highly regulated financial centre used for financings by the UK and US governments) brings no tax benefit to the group. It does not hold funds offshore, with all finance being raised and held within the United Kingdom. A financing subsidiary of established in 2004 to issue a bond. It lends monies raised from its bond to. s immediate holding company. Its equity is provided as security to bondholders in the event of default. 2 3 Other companies Name Description Place of registration Southeast East Shared Services A company which formerly held an Instrument of Appointment as water undertaker for the Southeast Region of s water supply area. The appointment was transferred to on 27 July The company is no longer trading but continues to honour income assurances made to minority shareholders on transfer of its water undertaking to. A company which formerly held an Instrument of Appointment as water undertaker for the East Region of s water supply area. The appointment was transferred to on 27 July The company is no longer trading but continues to honour income assurances made to minority shareholders on transfer of its water undertaking to. A company which provided administrative and technical services solely to until 31 March Prior to the group s acquisition of Veolia Water UK s 90% equity interest in June 2012 (and for a 12 month transitional period following), the company also provided services to the non-regulated businesses of Veolia Water UK. Structure chart reference Board leadership, transparency and governance holding company principles 7
8 Holding companies Name Description Place of registration Capital Funds Acquisitions Acquisitions (Midco) Acquisitions (Holdco) Acquisitions (Investments) MSIP Dalis BV Infracapital F2 Rift S.a.r.l Infracapital F2 Rift Holdings S.a.r.l The original holding company for Veolia s regulated water businesses, which was acquired by the group in June 2012 through Acquisitions (the target company), which provides management services to the company. The company which bid for and acquired Capital Funds and its subsidiaries from Veolia Water UK in 2012 (the bid company). It has issued subordinated debt notes to Acquisitions (Midco) as part of the acquisition finance. The holding company of Acquisitions which holds subordinated debt notes issued by Acquisitions. It has issued subordinated debt notes to the shareholders and exists to enable the introduction or withdrawal of shareholder subordinated debt without impacting on agreements between the original acquisition consortia and Veolia Water UK. The holding company of Acquisitions (Midco). The inclusion of a holding company between Acquisitions (Midco) and Acquisitions (Investments) enables the introduction or withdrawal of additional shareholders without impacting on shareholder agreements between the original acquisition consortia. The ultimate holding company of the group in the United Kingdom, paying dividends to the acquisition consortia subsidiaries. The inclusion of this company in the group structure allows the original consortia to change their individual equity holdings without requiring structural changes in the organisation below. A company established by North Haven Infrastructure Partners LP under its Netherlands-based operations to own its European and Asian investments. A company established at the time of acquisition in 2012 to hold indirectly Infracapital Partners II s investment in the group. A company established at the time of acquisition in 2012 through which Infracapital Partners II and Beryl Datura Investment hold their investment in the group. Netherlands Luxembourg Luxembourg Structure chart reference Board leadership, transparency and governance holding company principles 8
AFFINITY WATER FINANCE (2004) PLC
AFFINITY WATER FINANCE (2004) PLC UNAUDITED HALF-YEARLY FINANCIAL REPORT FOR THE SIX MONTH PERIOD ENDED 30 SEPTEMBER (Registered Number 05139236) Contents Page Interim management report... 1 Condensed
More informationAFFINITY WATER FINANCE (2004) PLC
AFFINITY WATER FINANCE (2004) PLC ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 (Registered Number 05139236) Contents Page Strategic report... 1 Directors report... 2 Independent
More informationAFFINITY WATER HOLDINGS LIMITED
AFFINITY WATER HOLDINGS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 (Registered Number 08350099) Contents Page Directors report... 1 Independent auditor s report...
More informationAFFINITY WATER PROGRAMME FINANCE LIMITED
AFFINITY WATER PROGRAMME FINANCE LIMITED UNAUDITED HALF-YEARLY FINANCIAL REPORT FOR THE SIX MONTH PERIOD ENDED 30 SEPTEMBER (Cayman Islands Registered Number 274647) Contents Page Interim management report...
More informationAFFINITY WATER HOLDINGS LIMITED
AFFINITY WATER HOLDINGS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 (Registered Number 08350099) Contents Page Directors report... 1 Independent auditor s report...
More informationISIN Description Issuer Class Principal Amount Outstanding
15 November 2018 On 23 August 2018 Affinity Water Limited (the "Company", "AWL") announced that it was considering the substitution of Affinity Water Programme Finance Limited (the "Current Programme "),
More informationAFFINITY WATER PROGRAMME FINANCE LIMITED
AFFINITY WATER PROGRAMME FINANCE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2014 (Cayman Islands Registered Number 274647) Contents Page Directors and advisers 1 Strategic
More informationTR-1: Notification of major holdings
Investec Incorporated in the Republic of South Africa Registration number 1925/002833/06 JSE share code: INL NSX share code: IVD BSE share code: INVESTEC ISIN: ZAE000081949 Investec plc Incorporated in
More information8,000,000,000 Multicurrency programme for the issuance of Guaranteed Bonds financing Yorkshire Water Services Limited
YORKSHIRE WATER SERVICES BRADFORD FINANCE LIMITED (incorporated with limited liability under the laws of the Cayman Islands with registered number MC-219838) YORKSHIRE WATER SERVICES ODSAL FINANCE LIMITED
More informationInternational Monetary Fund: Co-Ordinated Portfolio Investment Survey (CPIS) Explanatory notes to Jersey participants
International Monetary Fund: Co-Ordinated Portfolio Investment Survey (CPIS) Explanatory notes to Jersey participants Issued: January 2017 Contents Contents... 2 Glossary of Terms... 3 1 Background...
More informationInternational Monetary Fund. Co-Ordinated Portfolio Investment Survey (CPIS) Explanatory notes to Jersey participants
International Monetary Fund Co-Ordinated Portfolio Investment Survey (CPIS) Explanatory notes to Jersey participants Issued: January 2018 Contents Contents 1 Glossary of Terms... 3 2 Background... 5 2.1
More informationFund Background Range and Information
Fund Background Range and Information November 2017 generali-worldwide.com INDEX GUARANTEED RETURN FUNDS... 4 US DOLLAR DEPOSIT ADMINISTRATION... 5 EURO DEPOSIT ADMINISTRATION... 6 STERLING DEPOSIT ADMINISTRATION...
More informationRedexis Gas Finance B.V., Amsterdam
Redexis Gas Finance B.V., Amsterdam Financial statements for the period 10 March 2014 up to and including 31 December 2014 Contents Financial report The Management Board report 2 Balance sheet as at 31
More informationNexteer Automotive Group Limited
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationEPIHIRO PLC. The date of this Prospectus is 20 May 2009.
EPIHIRO PLC (incorporated in England and Wales as a public limited company under registered number 6841918) 1,623,000,000 Class A Asset Backed Floating Rate Notes due January 2035 1,669,000,000 Class B
More informationIMPORTANT NOTICE NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE UNITED STATES
IMPORTANT NOTICE NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE UNITED STATES IMPORTANT: You must read the following before continuing. The following applies to the prospectus
More informationNIE Transmission Licence Consolidated Document see notes at the end of the document Northern Ireland Electricity Ltd
Northern Ireland Electricity Ltd Participate in Transmission Licence CONTENTS PART I GRANT AND TERMS OF THE LICENCE 1 PART II THE CONDITIONS 3 Condition 1. Interpretation and Construction 3 Condition 2.
More informationSolvency and Financial Condition Report 20I6
Solvency and Financial Condition Report 20I6 Contents Contents... 2 Director s Statement... 4 Report of the External Independent Auditor... 5 Summary... 9 Company Information... 9 Purpose of the Solvency
More informationHICL Infrastructure Company Limited 269 million acquisition of a 36.6% interest in Affinity Water
HICL Infrastructure Company Limited 269 million acquisition of a 36.6% interest in Affinity Water 2 May 2017 Important Information This presentation and subsequent discussion may contain certain forward
More informationHSBC Holdings plc. Overseas Regulatory Announcement
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness
More informationIt should be noted that the price of shares and the income from them may go down as well as up.
The CMI High Income Fund PLC Addendum to the Scheme Particulars dated April 2012 Please replace the relevant sections with the following: Page 1 Share Prices Offer and Redemption Prices of Shares are based
More informationGATWICK FUNDING LIMITED
Directors Report and Financial Statements for the year ended Company Registration Number: 107376 (Jersey) DIRECTORS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH CONTENTS Page Officers and
More informationP a g e 1 FINANCE SECTOR CODE OF CORPORATE GOVERNANCE
P a g e 1 FINANCE SECTOR CODE OF CORPORATE GOVERNANCE Amended February 2016 P a g e 2 CONTENTS Page Introduction 5 Principles and Guidance 1. THE BOARD 8 Companies should be headed by an effective Board
More informationUK Corporate and Fiduciary Services
UK Corporate and Fiduciary Services Maples Fiduciary, a division of MaplesFS, provides specialised fiduciary, corporate formation and administration services to a wide range of global financial institutions,
More informationtotal of % of voting rights both in % total number of voting through instruments (total of 7.b b.2)
Notification of Major Holdings 1. Details of issuer Deutsche Börse AG - 60485 Frankfurt / Main Germany 2. Reason for notification X Acquisition/disposal of shares with voting rights Acquisition/disposal
More informationGUIDE TO LISTING ON THE CAYMAN ISLANDS STOCK EXCHANGE
GUIDE TO LISTING ON THE CAYMAN ISLANDS STOCK EXCHANGE CONTENTS PREFACE 1 1. The Cayman Islands Stock Exchange 2 2. Advantages of a Listing on the CSX for International Issuers 3 3. Key Listing Requirements
More informationUNIBAIL-RODAMCO SE RODAMCO EUROPE FINANCE B.V. RODAMCO SVERIGE AB. EURO 15,000,000,000 Guaranteed Euro Medium Term Note Programme UNIBAIL-RODAMCO SE
SUPPLEMENT DATED 18 APRIL 2016 TO THE BASE PROSPECTUS DATED 30 JULY UNIBAIL-RODAMCO SE (incorporated in the Republic of France with limited liability) RODAMCO EUROPE FINANCE B.V. (incorporated in the Netherlands
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C SCHEDULE 13G Under the Securities Exchange Act of 1934 (AMENDMENT NO.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (AMENDMENT NO. 1) CALLON PETROLEUM COMPANY (Name of Issuer) COMMON STOCK,
More informationCayman Islands Office OFFICE DESCRIPTION. Clifton House 71 Fort Street PO Box 190 Grand Cayman KY Cayman Islands
Cayman Islands Office Clifton House 71 Fort Street PO Box 190 Grand Cayman KY1-1104 Cayman Islands T: +1 345 949 4900 F: +1 345 949 4901 E: cayman@applebyglobal.com OVERVIEW The Cayman Islands is one of
More informationHSBC BANK PLC CERTAIN FINANCIAL INFORMATION IN RELATION TO HSBC BANK PLC AND HSBC UK BANK PLC
13 April 2018 HSBC BANK PLC CERTAIN FINANCIAL INFORMATION IN RELATION TO HSBC BANK PLC AND HSBC UK BANK PLC The Financial Services (Banking Reform) Act 2013 and associated secondary legislation and regulatory
More informationGATWICK FUNDING LIMITED
Directors Report and Financial Statements for the period ended Company Registration Number: 107376 (Jersey) DIRECTORS REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH CONTENTS Page Officers
More informationRBC Dominion Securities
OFFERING CIRCULAR Transco plc (incorporated in England and Wales with limited liability) (registered number 2006000) 75,000,000 83/4 per cent. Bonds due 2025 to be consolidated and to form a single series
More informationContents. 1. Working with Barclays 2. Bespoke client solutions 3. Your Barclays team 4. Appendix 5. Client case studies. 2 Offshore Corporate
Offshore Corporate Contents 1. Working with Barclays 2. Bespoke client solutions 3. Your Barclays team 4. Appendix 5. Client case studies 2 Offshore Corporate Working with Barclays 3 Offshore Corporate
More informationFor professional advisers only. Schroders. for Bonds. Strength. in bonds. Best Large Fixed-Interest House
For professional advisers only Schroders for Bonds Strength in bonds Best Large Fixed-Interest House Why Schroders for bonds? Experience: Schroders has a long and successful history, commencing in 1804.
More information(Sec. 21 WpHG) (Sec. 22 WpHG) (Sec. 21 WpHG) (Sec. 22 WpHG) DE % % Total %
Aareal Bank AG Dissemination of a Voting Rights Announcement 16.12.2016 Notification of Major Holdings 1. Details of issuer Aareal Bank AG Paulinenstr. 15 65189 Wiesbaden Germany 2. Reason for notification
More informationSupplemental Information Memorandum
Supplemental Information Memorandum Deutsche Bank AG, Sydney Branch (a reference in this Supplemental Information Memorandum to Deutsche Bank AG, Sydney Branch is a reference to Deutsche Bank AG, a banking
More informationRelease according to Article 26, Section 1 of the WpHG (German Securities Trading Act)
Release according to Article 26, Section 1 of the WpHG (German Securities Trading Act) HUGO BOSS AG received the following notification on November 24, 2017: 1. Details of issuer: HUGO BOSS AG, Dieselstr.
More information% of voting rights through instruments (total of 7.b b.2) total of both in % (7.a. + 7.b.) 5.01 % 0.21 % 5.21 %
Notification of Major Holdings 1. Details of issuer TUI AG Karl-Wiechert-Allee 4 30625 Hannover Germany 2. Reason for notification X Acquisition/disposal of shares with voting rights Acquisition/disposal
More information2. Background information
Customer Guide Customer Guide 1. About this guide HSBC Bank International Limited (HBIB), trading as HSBC Expat, is a wholly-owned subsidiary of HSBC Bank plc (HBEU). This guide provides further information
More informationWilmington, DE, USA United States of America (USA)
Notification of Major Holdings 1. Details of issuer TUI AG Karl-Wiechert-Allee 4 30625 Hannover Germany 2. Reason for notification X Acquisition/disposal of shares with voting rights Acquisition/disposal
More informationWorking with you in the Cayman Islands
Working with you in the Cayman Islands wealth management and fiduciary services investment and pension fund administration Butterfield Bank in Cayman Butterfield Bank (Cayman) Limited was incorporated
More informationRelease according to Article 40, Section 1 of the WpHG (German Securities Trading Act)
Release according to Article 40, Section 1 of the WpHG (German Securities Trading Act) HUGO BOSS AG received the following notification on December 14, 2018: 1. Details of issuer: HUGO BOSS AG, Dieselstr.
More informationTransparent, sophisticated, tax neutral
Transparent, sophisticated, tax neutral The truth about offshore alternative investment funds www.aima.org Executive Summary Collective investment is good for investors. Investors such as pension funds,
More informationHSBC Holdings plc. Overseas Regulatory Announcement
Hong Kong Exchanges and Clearing and The Stock Exchange of Hong Kong take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim
More informationHSBC Holdings plc. Overseas Regulatory Announcement
Hong Kong Exchanges and Clearing and The Stock Exchange of Hong Kong take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim
More informationThe Royal Bank of Scotland Group plc. The Royal Bank of Scotland plc. 50,000,000,000 Euro Medium Term Note Programme
SUPPLEMENTARY PROSPECTUS DATED 4th NOVEMBER 2008 The Royal Bank of Scotland Group plc (Incorporated in Scotland with limited liability under the Companies Acts 1948 to 1980, registered number SC045551)
More informationAddendum to the Supplementary Report dated 31 May 2018
Addendum to the Supplementary Report dated 31 May 2018 Santander UK and ANTS ring-fencing transfer scheme As at 7 June 2018 Prepared by John Cole FCA, MCSI Contents Contents 1. About this document... 2
More informationZurich Finance (USA), Inc. Financial Statements December 31, 2011
Financial Statements Index Page(s) Management Information...1 Management Report and Responsibility Statement... 2-3 Report of Independent Auditors... 4-5 Financial Statements: Statement of Financial Position...6
More informationSeries: 35,000,000. Not Applicable
EXECUTION COPY Final Terms dated 23 April 2013 ANGLIAN WATER SERVICES FINANCING PLC Issue of 35,000,000 1.141 Per Cent Guaranteed Senior Unwrapped Class A Retail Price Index Bonds due August 2042 unconditionally
More informationFOR INFORMATIONAL PURPOSES ONLY. SPANISH VERSION PREVAILS. 1. Purpose of the report and submission of same to the General Meeting
REPORT BY THE BOARD OF DIRECTORS OF INMOBILIARIA COLONIAL, SOCIMI, S.A. IN CONNECTION WITH THE MOTION TO AUTHORISE THE PURCHASE OF SHARES IN SOCIÉTÉ FONCIÈRE LYONNAISE HELD BY QATAR HOLDING LLC AND DIC
More informationNon-resident chargeable gains on UK property collective investment vehicles
January 2019 Draft Finance Bill clauses Non-resident chargeable gains on UK property collective investment vehicles Summary of draft rules for collective investment vehicles (CIVs) In addition to the new
More informationBIS International Locational Banking Statistics and International Consolidated Banking Statistics in Japan (end-june 2018)
FOR RELEASE 8:5 A.M. September 14, 218 BIS International Locational Banking Statistics and International Consolidated Banking Statistics in Japan (end-june 218) I. BIS International Locational Banking
More informationCIMA s Role and Functions
Cayman Islands Monetary Authority ( CIMA ) CIMA s Role and Functions Presentation to IMAC on 19 April 2016 A brief history of CIMA and its legal basis: Formed on 1 January 1997, by amalgamation of the
More informationWhat you need to know about the regulation of investment business in the BVI
GUIDE What you need to know about the regulation of investment business in the BVI September 2016 Contents Introduction 2 What activities are regulated? 2 The basic prohibition 2 Components of the basic
More informationFINAL TERMS. Iberdrola International B.V. (incorporated with limited liability in The Netherlands and having its corporate seat in Amsterdam) Issue of
FINAL TERMS Final Terms dated 13 September 2016 Iberdrola International B.V. (incorporated with limited liability in The Netherlands and having its corporate seat in Amsterdam) Issue of EUR 700,000,000
More informationI N F O R M A T I O N F O R I N S I G H T F U L D E C I S I O N M A K I N G. N o r t h e r n T r u s t P a s s p o r t
I N F O R M A T I O N F O R I N S I G H T F U L D E C I S I O N M A K I N G N o r t h e r n T r u s t P a s s p o r t K N O W L E D G E I S P O W E R In a world with far too much data moving ever more
More informationNetwork Licence. Network Rail Infrastructure Limited. (As at 1 April 2014)
Network Licence granted to Network Rail Infrastructure Limited (As at 1 April 2014) Modified: 1 April 2009 All conditions 31 March 2010 Conditions 3 and 17 1 March 2012 Condition 2 29 January 2013 Condition
More informationETFS Foreign Exchange Limited. Collateralised Currency Securities
23 March 2018 Bringing Exchange Traded Currencies to the World s Stock Exchanges ETFS Foreign Exchange Limited (Incorporated and registered in Jersey under the Companies (Jersey) Law 1991 (as amended)
More informationTelefonica Europe B.V. Annual Report December 31, 2018
Annual Report December 31, 2018 0 2018 Annual Accounts Contents Page Managing Directors Report.... 2 Financial Statements Balance Sheet (before appropriation of result)...... 7 Statement of Income and
More informationNORTHERN TRUST A YEAR IN REVIEW: 2008 CROSS-BORDER PENSION/ASSET POOLING
S E R V I C E l E X P E R T I S E l I N T E G R I T Y NORTHERN TRUST A YEAR IN REVIEW: 2008 CROSS-BORDER PENSION/ASSET POOLING Service Expertise Integrity P R I N C I P L E S T H A T E N D U R E Over the
More informationRawlinson & Hunter Singapore
Rawlinson & Hunter Singapore Trusts Accountancy Advisory Tax Rawlinson & Hunter Singapore is the first Asian office in our global financial services network. It provides us with the ability to offer clients
More informationCodes of Practice Statements of Commitment
Codes of Practice Statements of Commitment Contents Statements of Commitment... 2 Fixed Income, Currencies and Commodities Markets Standards Board (FMSB)... 3 Binary Options for the Commodities Markets...
More informationKNIGHTSTONE CAPITAL PLC
KNIGHTSTONE CAPITAL PLC (Incorporated in England and Wales with limited liability under the Companies Act 2006, registered number 8691017) 100,000,000 5.058 per cent. (Step up) Secured Bonds due 2048 Issue
More informationFor personal use only
Notice by Challenger Limited (and associates) required pursuant to a Corporations Act Section 259C(2) Exemption To: Company Announcements ASX Limited Shareholder Name of shareholder: Challenger Limited
More informationIMPORTANT NOTICE NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE U.S.
IMPORTANT NOTICE NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE U.S. IMPORTANT: You must read the following before continuing. The following applies to the Offering Circular
More informationVodafone Hutchison Australia Pty Limited Board of Taxation Tax Transparency Code Report for the financial year ended 31 December 2016
Vodafone Hutchison Australia Pty Limited Board of Taxation Tax Transparency Code Report for the financial year ended 31 December 2016 1 TABLE OF CONTENTS 1. Executive Summary... 3 2. VHA Tax Contributions...
More informationFor personal use only
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 23 May 2016 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements Office
More informationComputershare Internet Share Dealing Service Terms and Conditions
Computershare Internet Share Dealing Service Terms and Conditions THE SERVICE, WEBSITE AND LIABILITY The Computershare Internet Share Dealing Service ( the Service ) and the information contained on the
More informationTelefonica Europe B.V.
Interim Financial Report June 30, 2017 0 Contents Page Interim Managing Directors Report.. 1 Interim Financial Statements Interim Balance Sheet. 4 Interim Statement of Income and Expenses 5 Notes to the
More informationFINANCIAL SERVICES (BANKING REFORM) BILL
FINANCIAL SERVICES (BANKING REFORM) BILL EXPLANATORY NOTES INTRODUCTION 1. These Explanatory Notes relate to the Financial Services (Banking Reform) Bill as introduced in the House of Commons on 4 February
More informationNRAM (No. 1) Limited Annual Report and Financial Statements
Registered number 09655526 Annual Report and Financial Statements for the period from 24 June 2015 to 31 March 2016 Annual Report and Financial Statements for the period from 24 June 2015 to 31 March 2016
More informationRe: Notice of initial substantial holder Programmed Maintenance Services Limited (PRG)
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 26 May 2017 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements Office
More informationRegistered No: UPP Bond 1 Holdings Limited Unaudited financial statements
Registered No: 08253967 UPP Bond 1 Holdings Limited financial statements For the six months ended 28 February 2018 financial statements For the six months ended 28 February 2018 Basis of reporting The
More informationDGAP-STIMMRECHTE: BASF SE (ENGLISH) 05/04/ :09 FINANCIAL NEWS
FINANCIAL NEWS DGAP-STIMMRECHTE: BASF SE (ENGLISH) 05/04/2017-14:09 BASF SE: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide
More informationJersey Office OFFICE DESCRIPTION. PO Box Esplanade St Helier Jersey JE1 1BD Channel Islands
OFFICE DESCRIPTION Jersey Office PO Box 207 13-14 Esplanade St Helier Jersey JE1 1BD Channel Islands T: +44 (0)1534 888 777 F: +44 (0)1534 888 778 E: jersey@applebyglobal.com OVERVIEW Jersey s strong track
More informationWRITTEN NOTICE Internal model approval
PRUDENTIAL REGULATION AUTHORITY WRITTEN NOTICE Internal model approval To: The Prudential Assurance Company Ltd (FRN139793) Prudential Pensions Ltd (FRN 110434) Prudential Retirement Income Ltd (FRN 110452)
More informationUnderstanding Financial Interconnectedness
Understanding Financial Interconnectedness Key Messages Utility Bilateral surveillance Multilateral surveillance Macro-prudential policies Swap Lines England ECB Switzerland United States JAPAN Swap Lines
More informationFor personal use only
ASX Code: A2M 4 May 2016 ASX Market Release Disclosure of change in substantial holding Please find attached the following disclosure notice for Challenger Limited, released to the NZX on 4 May 2016. For
More informationRe: Notice of change of interests of substantial holder Link Administration Holdings Limited (LNK)
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 26 November 2018 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements
More informationRe: Notice of change of interests of substantial holder Australis Oil & Gas Limited (ATS)
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 10 August 2018 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements
More informationFortum as a tax payer 2017
Tax Footprint 2017 Fortum as a tax payer 2017 The energy sector, including Fortum, is in the middle of a transition. Global megatrends, such as climate change, emerging new technologies, changes in consumer
More informationFor personal use only
20 August 2018 Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements
More informationRe: Notice of change of interests of substantial holder Lynas Corporation Limited (LYC)
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 5 March 2019 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements
More informationDisclosure of ceasing to have substantial holding
Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 Note: This form must be completed in accordance with the instructions at the end of the form. To NZX Limited
More informationRe: Notice of initial substantial holder Lynas Corporation Limited (LYC)
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 20 July 2018 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements
More informationFund structures.
Fund structures www.charltonslaw.com 0 Disclaimers This presentation is for general reference only and is not intended to be used without examining business objectives, tax and other legal and practical
More informationRegulatory Policy. Licensing Banks
Regulatory Policy Licensing Banks 1. 1. STATEMENT OF OBJECTIVES 1.1. This policy sets out the Cayman Islands Monetary Authority s (the Authority ) criteria on licensing banks pursuant to Section 6 of the
More informationFor personal use only
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 11 July 2017 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Companies Announcement
More informationInternational Endesa B.V. Financial Statements 2011
International Endesa B.V. Financial Statements 2011 Index Page Financial Statements 2011 Management Board report 2 Financial Statements 6 Balance sheet 7 Profit and loss 8 Statement of cash flows 9 Statement
More informationCOUNTRY GARDEN HOLDINGS COMPANY LIMITED
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationSeychelles Office OFFICE DESCRIPTION. Suite 202 2nd Floor, Eden Plaza Eden Island PO Box 1352 Mahe Seychelles
Photo courtesy Raymond Sahuguet Seychelles Office Suite 202 2nd Floor, Eden Plaza Eden Island PO Box 1352 Mahe Seychelles T: +248 429 5281 F: +248 422 5281 E: seychelles@applebyglobal.com OVERVIEW The
More informationEE Finance plc. Annual report. Financial Statements. For the year ended 31 December 2014
Company Number: 07844526 EE Finance plc Annual report Financial Statements For the year ended 31 December 2014 Contents Directors and advisers... 3 Strategic Report... 4 Directors report... 5 Statement
More informationWHY INFRACAPITAL HAS ITS EYES ON THE MID-MARKET
issue 47 november 2013 infrastructureinvestor.com FOR THE WORLD S INFRASTRUCTURE MARKETS Any market ebbs and flows in terms of where best value is WHY INFRACAPITAL HAS ITS EYES ON THE MID-MARKET asia SPECIAL
More informationDISCLOSEABLE TRANSACTION ACQUISITION OF 60% EQUITY INTEREST AND SHAREHOLDERS LOAN IN LACHA APPAREL II SÀRL
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationMeasuring our performance
Our performance Measuring our performance To create sustainable economic value for our shareholders we focus on delivering profitable growth and cash while maintaining appropriate capital. Profit, cash
More informationFinancial information
Financial information NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTIONS WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
More informationFor personal use only
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 16 October 2017 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements
More informationImportant ring-fencing information
Important ring-fencing information April 2018 Version 7 NATWESTMARKETS.COM Our ring-fencing plans explained Contents This brochure outlines what ring-fencing is, why it s happening, our plans and an overview
More informationThe Royal Bank of Scotland Group plc. The Royal Bank of Scotland plc. 90,000,000,000 Euro Medium Term Note Programme
Prospectus dated 7 December 2017 The Royal Bank of Scotland Group plc (incorporated in Scotland with limited liability under the Companies Acts 1948 to 1980, registered number SC045551) The Royal Bank
More informationFor personal use only
Sydney Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au 11 November 2016 Telephone 02 9994 7000 Facsimile 02 9994 7777 The Manager Company Announcements
More information