Thames Water has this morning announced that a supplemental expert witness report by Matt Cowlishaw of Teneo Financial Advisory Ltd in relation to the likely outcome for creditors under its proposed restructuring plan has been made available to the plan creditors, prospective buyers, transferees and sub-participants of the debt.
Matt Cowlishaw’s independent expert report was submitted to the High Court on 11 December ahead of Ofwat’s Final Determination on the water company’s AMP8 Business Plan for 2025-30.
A statement released by Thames Water to the London Stock Exchange says the Supplemental Relevant Alternative Report has been prepared to update the conclusions of the Relevant Alternative Report as a result of the amendment of the treatment of certain hedging agreements in connection with the Liquidity Extension Transaction.
The expert witness report, together with the current drafts of the documents for the implementation of the Liquidity Extension Transaction, is available via the Plan Website at https://deals.is.kroll.com/thameswater.
Creditors can contact the Information Agent at This e-mail address is being protected from spambots. You need JavaScript enabled to view it with any questions regarding accessing the Supplemental Relevant Alternative Report.
Creditors are also encouraged to review the supplemental relevant alternative report and seek their own legal and financial advice should they have any queries in relation to their contents.