All SSE shareholders must complete investor declarations as required as part of the proposed transaction to demerge SSE’s household energy and services business in Great Britain (now named SSE Energy Services) and subsequent combination of that business with npower (a subsidiary of innogy SE) to form a new independent company (the Transaction).
If you hold shares in your own name in paper certificated form, you can make your investor declarations by:
- Shareholder Portal. By signing in to your account on the shareholder portal at www.sse-shares.com (you will require your Investor Code (IVC) and PIN); and
- Telephone. You can use the Shareholder Helpline* to make your declaration through the Interactive Voice Response facility on +44 (0) 345 143 4005 (you will require your Investor Code (IVC)).
For shares held electronically, please see the below frequently asked questions section.
*Shareholder Helpline: Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom are charged at the applicable international rate. Lines are open between 9.00am - 5.30pm, Monday to Friday, excluding public holidays in England and Wales.
Frequently Asked Questions
1. What are the required investor declarations?
As part of the Transaction, each SSE plc shareholder must complete declarations to represent, warrant and confirm that they are located outside of the United States. Further information on the requirements of the investor declarations can be found in paragraph 5 of Part XII (Further details of the Transaction) of the Shareholder Circular relating to this Transaction which was issued on 27 June 2018 and can be accessed here.
2. How do I make the required investor declarations?
a. Certificated. If you are a SSE shareholder holding your shares in certificated form, you can make the required investor declarations by the following means:
- Share Portal. Log into the share portal www.sse-shares.com with your username and password. If you have not previously registered to use the share portal, you will be required to register following the instructions provided online. You will need your Investor Code (IVC) which can be found on either your share certificate, dividend confirmation or similar documentation as issued by the Registrar; or
- Telephone. By telephone using the Interactive Voice Response facility available via the Shareholder Helpline* on +44 (0) 345 143 4005 following the instructions provided. You will need your Investor Code (IVC) which can be found on either your share certificate, dividend confirmation or similar documentation as issued by the Registrar.
b. Uncertificated. If you hold your shares in uncertificated form (via CREST such as a nominee, stocks and shares ICA, and share dealing account) you will be required to make your investor declarations through the electronic CREST proxy appointment service. Such uncertificated SSE plc shareholders will only be able to input this instruction following the UK Competition and Markets Authority’s approval of the transaction, with a final decision anticipated in the last quarter of 2018.
3. When is the deadline to make the required investor declarations?
If you have not done so already, you will need to provide your investor declarations no later than 3:00 p.m. (UK time) on the Demerger Record Date (this being the date at which you must own SSE Shares to receive shares in the new company). This date is still to be announced but is expected to be in the first quarter of 2019.
4. How will the Transaction be implemented?
The Transaction will be implemented by the demerger of SSE Energy Services and the subsequent combination of the business with npower.
5. What will happen to my SSE shares?
As part of the implementation of the Transaction, SSE plc shareholders will retain their existing SSE plc shares and will also receive one share in the newly-listed business for every existing SSE plc share they hold.
6. When will the Transaction come into effect?
Subject to the necessary conditions being satisfied, the Transaction is expected to become effective in the first quarter of 2019, with SSE Shareholders owning shares in two independent, separately listed companies: SSE plc and the new company.
7. When will I receive my new share certificates?
Share certificates for the new independent company’s shares are expected to be issued within 14 days following admission of trading on the London Stock Exchange.
8. Where can I read more information on the Transaction?
The information is outlined in the Shareholder Circular issued on 27 June 2018 and can be accessed here.
9. What if I still have questions?
If you are unclear on any of the above information or require assistance, please call Link Asset Services on the Shareholder Helpline* on +44 (0) 345 143 4005 or email firstname.lastname@example.org.