SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
January 17, 2005
BRITISH ENERGY GROUP PLC
(Registrant's name)
3 Redwood Crescent
Peel Park
East Kilbride G74 5PR
Scotland
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F..X.. Form 40-F.....
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ..... No ..X..
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
Exhibit Index
The following document (bearing the exhibit number listed below) is furnished
herewith and is made a part of this Report pursuant to the General Instructions
for Form 6-K:
Exhibit Description
No. 1 RNS Announcement, re: Restructuring Update dated 17 January, 2005
NOT FOR DISTRIBUTION INTO AUSTRALIA, CANADA, GERMANY, ITALY, JAPAN AND THE
UNITED STATES
17 January 2005
British Energy Group plc and British Energy Holdings plc
Restructuring Update
British Energy relists
Trading in British Energy Group plc's New Shares and Warrants, and in British
Energy Holdings plc's New Bonds has begun on the London Stock Exchange this
morning following the successful completion of the restructuring of the British
Energy group.
Certain minor amendments to the conditions of the Warrants contained in the
prospectus are set out in Appendix of this announcement.
This announcement is not an offer for securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration under the Securities Act of 1933, as amended.
Any public offering of securities in the United States will be made by means of
a prospectus that may be obtained from the issuer or selling security holder and
that will contain detailed information about the company and management, as well
as financial statements.
Contact:
Andrew Dowler 020 7831 3113 (Media Enquiries)
John Searles 01506 408 715 (Investor Relations)
APPENDIX
Amendments to the conditions of the Warrants
Certain minor amendments to the Conditions of the Warrants which were set out in
the prospectus of British Energy Group plc have been made including the
insertion of Condition 4.10A as follows:
"Whenever the Subscription Price is adjusted in accordance with this Condition 4
by reason of a consolidation of the share capital of the Company as referred to
in paragraph 4.1.1 the number of Ordinary Shares for which a Warrantholder is
entitled to subscribe shall be decreased at the same time as such adjustment
takes effect. The number of Ordinary Shares to which a Warrantholder shall be
entitled shall be reduced by a number equal to the product of the number of
existing Ordinary Shares for which that Warrantholder is entitled to subscribe
at the date that the adjustment to the Subscription Price takes effect and
before adjustment pursuant to this Condition 4.10A multiplied by the following
fraction:
Y - X
-------
Y
Where:
X is the Subscription Price immediately before the adjustment; and
Y is the Subscription Price immediately after the adjustment.
For the avoidance of doubt, the adjustment contemplated by this Condition 4.10A
shall be effected by deducting from the number of Ordinary Shares for which a
Warrantholder would be entitled to subscribe immediately prior to such
adjustment, the number of Ordinary Shares resulting from the foregoing
calculations."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: January 17, 2005 BRITISH ENERGY GROUP PLC
By:____John Searles____
Name: John Searles
Title: Director - Investor Relations