Exhibit 99.2
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
This form is intended for use by anissuerto make aRISnotification required byDR3.1.4R(1).
(1) | | Anissuermaking a notification in respect of a transactions relating to thesharesor debentures of theissuershould complete boxes 1 to 16, 23 and 24. |
(2) | | Anissuermaking a notification in respect of a derivative relating thesharesof the issuer should complete boxes 1 to 4, 6, 8, 13, 14 ,16, 23 and 24. |
(3) | | Anissuermaking a notification in respect of options granted to adirector/person discharging managerial responsibilitiesshould complete boxes 1 to 3 and 17 to 24. |
(4) | | An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. |
Please complete all relevant boxes should be in block capital letters
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1. | | Name of theissuer | | | 2. | | | State whether the notification relates to (i) a transaction notified in accordance withDR 3.1.4R(1)(a); or |
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| | | | | | | | (ii)DR3.1.4R(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or |
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| | | | | | | | (iii) both (i) and (ii) |
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| | UNITED UTILITIES PLC | | | | | | BOTH (i) AND (ii) |
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3. | | Name ofperson discharging managerial responsibilities/director | | | 4. | | | State whether notification relates to a person connected with aperson discharging managerial responsibilities/director named in 3 and identify the connected person |
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| | CHARLES CORNISH | | | | | | |
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5. | | Indicate whether the notification is in respect of a holding of theperson referred to in 3 or 4 above or in respect of a non-beneficial interest | | | 6. | | | Description ofshares(includingclass), debentures or derivatives or financial instruments relating toshares |
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7. | | Name of registered shareholders(s) and, if more than one, the number of shares held by each of them | | | 8. | | | State the nature of the transaction |
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9. | | Number ofshares, debentures or financial instruments relating tosharesacquired | | | 10. | | | Percentage of issued class acquired (treasury sharesof thatclassshould not be taken into account when calculating percentage) |
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11. | | Number ofshares, debentures or financial instruments relating tosharesdisposed | | | 12. | | | Percentage of issuedclass disposed (treasury sharesof thatclassshould not be taken into account when calculating percentage) |
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13. | | Price per share of value of transaction | | | 14. | | | Date and place of transaction |
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15. | | Total holding following notification and total percentage holding following notification (anytreasury shares should not be taken into account when calculating percentage) | | | 16. | | | Date issuer informed of transaction |
If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes
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17. | | Date of grant | | | 18. | | | Period during which or date on which it can be exercised |
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| | 16 MARCH 2007 | | | | | | NORMALLY DURING THE SIX MONTH PERIOD FOLLOWING THE ISSUE OF A PERFORMANCE CERTIFICATE BY THE COMPANY RELATING TO THE OPTION. THE COMPANY IS OBLIGED TO ISSUE THE PERFORMANCE CERTIFICATE AS SOON AS PRACTICABLE AFTER 31 MARCH 2010 (THE END OF THE PERFORMANCE PERIOD RELATING TO THE OPTION) AND IT MUST BE ISSUED BY 31 DECEMBER 2010 AT THE LATEST. |
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19. | | Total amount paid (if any) for grant of the option | | | 20. | | | Description ofsharesor debentures involved (classand number) |
| | ZERO | | | | | | INITIALLY, 47,027 ORDINARY SHARES (THE AWARD SHARES) ARE SUBJECT TO THE OPTION. HOWEVER, THIS NUMBER IS TO BE INCREASED ON EACH DIVIDEND PAYMENT DATE FOLLOWING 1 APRIL 2006 (COMMENCEMENT OF THE PERFORMANCE PERIOD) BY THE NUMBER OF ORDINARY SHARES WHICH COULD HAVE BEEN PURCHASED ON THAT PAYMENT DATE (AT A PRICE EQUAL TO THE MARKET VALUE OF THE SHARES ON THAT DATE) USING THE AGGREGATE CASH AMOUNT OF THE DIVIDEND WHICH NOTIONALLY WOULD HAVE BEEN PAID ON THE AWARD SHARES. |
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| | | | | | | | ACCORDINGLY, A FURTHER 2,068 AND 927 ORDINARY SHARES HAVE BEEN ADDED TO THE AWARD SHARES IN RESPECT OF DIVIDENDS ALREADY PAID ON 25 AUGUST 2006 AND 12 FEBRUARY 2007 RESPECTIVELY, MAKING A TOTAL 50,022 |
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| | | | | | | | ORDINARY SHARES SUBJECT TO THE OPTION AS AT THE DATE OF GRANT. |
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| | | | | | | | AT THE POINT OF EXERCISE, CHARLES CORNISH WILL BE ENTITLED TO ACQUIRE THE SHARES ADDED TO HIS AWARD BY WAY OF THE DIVIDEND ENHANCEMENT MECHANISM DESCRIBED ABOVE IN ADDITION TO THE 47,027 AWARD SHARES, (OR A PROPORTION OF THEM IN EACH CASE) SUBJECT TO THE SATISFACTION OF CERTAIN PERFORMANCE TARGETS ATTACHING TO THE OPTION. |
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21. | | Exercise price (if fixed at a time of grant) indication that price is to be fixed at the time of exercise | | | 22. | | | Total number ofsharesor debentures over which options held following notification |
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| | ZERO | | | | | | 50,022 |
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23. | | Any additional information | | | 24. | | | Name of contact and telephone number for queries |
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| | THE OPTION HAS BEEN GRANTED TO CHARLES CORNISH UNDER THE TERMS OF A LONG TERM INCENTIVE SCHEME OF WHICH HE IS THE SOLE PARTICIPANT. | | | | | | PAUL DAVIES, ASSISTANT COMPANY SECRETARY + 44 1 925 237051 |
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| | THE OPTION IS GRANTED UNDER THE AUTHORITY PROVIDED BY SUB-PARAGRAPH (2) OF PARAGRAPH 9.4.2R OF THE LISTING RULES. | | | | | | |
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| | IN ACCORDANCE WITH PARAGRAPH 9.4.3R OF THE LISTING RULES, UNITED UTILITIES PLC SHALL DISCLOSE THE PRINCIPAL TERMS OF THE LONG TERM INCENTIVE SCHEME FOR CHARLES CORNISH AND THE OTHER INFORMATION REQUIRED BY THAT LISTING RULE IN ITS ANNUAL REPORT AND ACCOUNTS FOR 2007. | | | | | | |
Name and signature of duly authorised officer of issuer responsible for making notification
T Rayner, Company Secretary
Date of notification 19 March 2007