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RNS Number : 5534P
Severn Trent PLC
10 June 2020
Severn Trent Plc - Annual Report, Sustainability Report and
Notice of the Annual General Meeting
Annual Report and Notice of Annual General Meeting
Severn Trent Plc (the "Company") announces that it has today
published its 2020 Annual Report and Notice of Annual General
Meeting ("AGM").
Copies of the following documents have been submitted to the
Financial Conduct Authority's Electronic Submission Service and may
shortly be viewed on the National Storage Mechanism at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
-- Annual Report and Accounts 2020;
-- Notice of AGM; and
-- Form of Proxy.
The 2020 Annual Report and Accounts and Notice of AGM are
available on the Severn Trent Plc website at www.severntrent.com
.
In light of the UK Government's response to COVID-19, the AGM is
to be held as a closed meeting and shareholders and their proxies
will not be able to attend in person. Shareholders are encouraged
to exercise their votes by submitting their proxy forms either
electronically or by post. The voting results of all resolutions
proposed at the Meeting will be announced as soon as possible after
the Meeting.
Shareholders are invited to submit questions in advance of the
AGM to shareholderquestions@severntrent.co.uk . The Board will
respond to these questions directly and, where appropriate, will
publish responses on the Company's website as soon as practicable
after the AGM.
The Annual Report and Accounts 2020 for Severn Trent Water
Limited will be available to view on Severn Trent Water's website
by 20 July 2020 at www.stwater.co.uk .
Sustainability Report
Reinforcing its commitment to long sustainability Severn Trent
has today released its first dedicated Sustainability Report to
highlight its approach to taking care of the environment, helping
people to thrive and continuing to be a company stakeholders can
trust.
Our plan is underpinned by GBP1.2bn of investment over the next
five years to deliver significant improvements towards a greener
future through enhanced biodiversity, a triple carbon reduction
pledge and reduced water usage - taking care of one of life's
essentials.
The report and further sustainability disclosures can be found
at https://www.severntrent.com/sustainability-strategy/
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 issued on 20 May 2020 in respect of the
financial year ended 31 March 2020 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 2020.
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 129
of the Annual Report and Accounts 2020. Responsibility is for the
full Annual Report and Accounts 2020 not the extracted information
presented in this announcement and the Preliminary Results
Announcement.
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.
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;
-- 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; and
-- 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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