Issue of Equity

RNS Number : 0067R

Utilico Emerging Markets Limited

12 August 2010

 



Utilico Emerging Markets Limited

Issue of equity

Further to the announcement of 4 August 2010, Utilico Emerging Markets Limited confirms that it has issued and allotted a total of 21,670,679 ordinary shares pursuant to the exercise of 17,797,199 warrants and 3,873,480 S shares. Application has been made for these new ordinary shares to be admitted to trading on AIM and dealings are expected to commence on Monday 16 August 2010.

The Company also announces that it has received notice from the trustee, appointed by the Company in accordance with the terms and conditions of the warrants and S shares, that it intends to exercise the outstanding 699,421 warrants and 1,011,722 S shares. The Company has therefore issued and allotted a further 1,711,143 ordinary shares pursuant to the exercise of those warrants and S shares. Application has been made for admission to trading on AIM of those ordinary shares and trading is also expected to commence on Monday 16 August 2010.

Application has also been made for listing of all new ordinary shares referred to above on the Bermuda Stock Exchange and Channel Islands Stock Exchange.

The 1,711,143 ordinary shares referred to above have today been sold at a price of 137 pence per ordinary share (of which 911,143 ordinary shares were purchased by the Company for cancellation). In accordance with the terms and conditions of the warrants and S shares, warrantholders and holders of S shares on whose behalf the trustee has exercised rights and sold the resulting ordinary shares, will receive the net proceeds of such sale over the subsription price, less associated costs and expenses, by the end of August 2010 except for aggregate entitlements of less than £3.00, which will be retained by the Company.

Following the exercise of the warrants and S shares and the purchase of the ordinary shares by the Company, the Company will have 224,282,613 ordinary shares in issue.

The above figure (224,282,613) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interests in, the Company under the FSA's Disclosure and Transparency Rules.

For further information, please contact:

F&C Management Limited	Arbuthnot Securities Limited
Martin Cassels	Alastair Moreton
0131 718 1095	Hannah Pearce
	0207 012 2000

 

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