Continuation vote proposal

RNS Number : 5473E

Utilico Emerging Markets Limited

10 April 2014

 



For immediate release on 10 April 2014

Utilico Emerging Markets Limited

Continuation Vote

Utilico Emerging Markets Limited ("UEM" or the "Company"), an established closed end fund focused on securing long term total returns, announces that in light of attractive rates currently available in the debt capital markets, it is seeking to secure longer term fixed rate funding for the purposes of pursuing the Company's investment objective over a significant period of time.  To facilitate securing such funding, the Company proposes to convene a special general meeting to (i) give shareholders the opportunity to vote on the continuation of the Company before an issue of secured bonds and (ii) amend the Company's bye laws to provide for the next continuation vote to be at the annual general meeting of the Company to be held in 2024 and at every fifth annual general meeting thereafter.  A circular to shareholders setting out further details and containing the notice of special general meeting is expected to be despatched to shareholders shortly.

UEM has appointed Canaccord Genuity Limited to arrange a series of meetings with fixed income investors in the UK and Channel Islands to discuss a possible issue of sterling denominated secured bonds, subject to market conditions.  A further announcement in relation to the issue will be made in due course.

For further information please contact:

ICM Limited

Charles Jillings

01372 271486

Bell Pottinger

Victoria Geoghegan

Elizabeth Snow

Sam Cartwright

0207 861 3925

Westhouse Securities Limited

Alastair Moreton

Hannah Young

Darren Vickers

0207 601 6118

 

END

 

 

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