Business Context and Reporting Period
This Form 6-K filing by National Grid Transco plc (NGT) covers announcements sent to the London Stock Exchange during December 2004. The report focuses on corporate governance matters, specifically notifications regarding directors' interests in share incentive schemes and significant shareholder holdings, rather than operational or financial performance.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The document contains no financial statements or operational metrics for the period.
Material Changes and Shareholder Activity
- Shareholder Interest: On December 17, 2004, the Credit Suisse First Boston (CSFB) group notified an interest of 3.24% (100,029,895 shares). This included 49,132,828 shares held under stock lending arrangements.
- Share Incentive Plan (SIP): On December 8, 2004, the SIP Trustee purchased 68,897 shares at 480.57 pence per share for approximately 3,800 participants. Executive Directors Steven Holliday and Roger Urwin received 26 shares each under this plan.
- Quest Trust Transfers: On December 6 and December 20, 2004, shares were transferred from the Qualifying Employee Share Ownership Trust (Quest) to employees. This resulted in Executive Directors E M Astle, S J Holliday, N P Winser, and R J Urwin technically ceasing to have an interest in 18,597 and 6,208 shares, respectively.
- LTIS Activity: On December 23, 2004, following the exercise and disposal of 57,601 shares by participants in the Lattice Group Long Term Incentive Scheme, Executive Director Steve Lucas retained a technical interest in the remaining 135,761 shares held by the Trustee.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for management guidance, future outlook, risk factors, contingencies, or unusual items. The content is strictly limited to regulatory notifications of share ownership changes.
Key Facts for Investor Verification
- Verify the total shareholding percentage of the CSFB group (3.24%) and the portion attributable to stock lending arrangements.
- Confirm the market price of 480.57 pence per share used for the December 8 SIP purchase.
- Review the updated total share interests for Executive Directors Steven Holliday (630,139 shares) and Roger Urwin (1,375,727 shares) following SIP allocations.
- Monitor the remaining balance of 135,761 shares in the Lattice Group LTIS Trustee held by Steve Lucas.