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Watlington Waterworks Limited (The "Company") Announcement
Hamilton, Bermuda, April 12, 2007 - At the Board of Directors' meeting held yesterday, it was agreed that a dividend of $0.10 per share will be declared to shareholders of record as at June 1 2007. The payment date for the dividend will be June 15 2007.
In addition, the Board of Directors approved the issuance of bonus shares on the basis of 1 new common share for every 10 common shares owned to all shareholders of record on August 31 2007. The bonus shares to be issued on September 14 2007 will be valued at book value calculated on August 31 2007. For those shareholders who will be entitled to a fraction of a share from the 1 for 10 bonus issue, the fraction of a share will not be issued, and the Company will compensate the shareholder in cash on the basis of the net book value of the fraction of the share.
Malcolm S Mitchell
Secretary