We have a large shareholder base of around 1.2 million, mainly resulting from the complex nature of the privatisation of the UK electricity and gas industries. Of these, approximately 92% own 500 or fewer shares.
Our aim is to ensure that the value of our business relations is reflected in our share price. We aim to make National Grid attractive to debt investors so that we can finance our operations as effectively as possible.
We have been active this year in communicating with equity investors, conducting over 350 investor meetings during the year. One of our objectives is to increase the number of shareholders in the US to reflect the increased size of our US operations, and we held a presentation to US investors in October 2007 following the completion of our acquisition of KeySpan.
We also presented to debt investors in 15 countries across Europe and North America, and held conference calls with debt investors in 2 other countries during the year. Despite turbulent market conditions, we have continued to issue long-term debt, raising £1.6 billion during the year.
Shareholder networking
National Grid operates a Shareholder Networking programme, the aim of which is to allow shareholders to gain a better understanding of the Company. The programme, which is normally run twice a year in June and during early December over two days, includes visits to operational sites and presentations by senior managers and employees. Participants also have the opportunity to meet and question Directors. The costs of the programme (including shareholder travel to and from the event) are paid for by National Grid.
If you would like to take part, please write to:
Shareholder Networking Organiser
National Grid House
Warwick Technology Park
Gallows Hill
Warwick CV34 6DA
Participants will be selected by ballot from those applying, with priority given to those who have not recently attended.