The discount is 25 pence off the full price of each National Power and PowerGen share and applies to the first 800 shares allocated - 480 National Power and 320 PowerGen shares.
To promote long-term shareholdings, the discount will be given by cutting 10p off the price of the second instalment payment due on each share date in January and a further 15p off the third instalment, which is due in September next year.
Alternatively, applicants may choose to receive one bonus share for every 15 bought and held until March 1998. The maximum entitlement under this option is 80 free shares.
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