The pennon carried at the end of the lance would be blazoned: Quartered per cross; the first azure, three fleurs de lys or, two over one; second gules, three lions passant, couped .
They brought with them a gift for the Belgian Society of Napoleonic Studies: a pennon of the Imperial Guard, carried from the battlefield 138 years ago.
Pennon May See Most Takeover Interest in U.K. Water, Citi Says Pennon Group Plc (PNN) is a potential takeover candidate and the most attractive of the U.K.’s three publicly traded water companies due to growth prospects at its Viridor waste-management unit, according to Citigroup Inc.
Sept. 3, 2013 - Bloomberg
JP Morgan in Telegraph.co.uk Severn Trent lost 24p to £10.94 after the JP Morgan analyst said the company "is fully valued at these levels in our view and we would switch into Pennon".