Transaction in Own Shares

RNS Number : 4579W

EPE Special Opportunities PLC

31 January 2012

 

EPE Special Opportunities Plc

31 January 2012

Repurchase of Convertible Loan Notes

EPE Special Opportunities plc (the "Company") announces today that on 27 January 2012 it repurchased 2,594,025 Convertible Loan Notes ("CLNs") of £1 each in the Company at a price of 75 pence per CLN inclusive of any interest accrued but unpaid on each such CLN.  The Company does not intend to cancel the repurchased CLNs at this point.

Accordingly, there will be 7,405,975 CLNs in issue excluding the CLNs now held by the Company.

On the basis of 31 December 2011 NAV of 81.62p the implied Gross Cover of the CLNs has moved from 3.5x to 4.5x. The Directors of ESO plc view the repurchase of the CLNs and the increased implied asset cover as a positive development for the Company.

Enquiries:

Numis Securities Ltd                                        Tel: [phone]   

Nominated Advisor:                                            Stuart Skinner / Hugh Jonathan

Corporate Broker:                                               Charles Farquhar    

EPIC Private Equity LLP:                                 James Henderson [phone]

IoMA:                                                               Philip Scales [phone]

Cardew Group:                                                Richard Spiegelberg /

Alexandra Stoneham [phone]

 

END

 

 

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