Result Placing and Open Offer
Utilico Emerging Mkts Utilities Ltd
08 May 2006
Utilico Emerging Markets Utilities Limited (the 'Company')
8 May 2006
Result of Placing and Open Offer
On 7 April 2006, the Company announced the Placing and Open Offer by Arbuthnot
Securities Limited on behalf of the Company of up to 100,000,000 C Shares at 100
pence per C Share with New Warrants attached on a one for five basis.
As at 11.00 a.m. on 4 May 2006, being the latest time for receipt of completed
application forms and payment under the Open Offer, the Company had received
applications for 53,280,001 C Shares representing approximately 71.0 per cent.
of the total number of C Shares available under the Open Offer. The balance of
21,790,775 C Shares available under the Open Offer and 24,929,224 C Shares
available under the Placing have been placed by Arbuthnot with institutional and
other investors. Accordingly, subject to the remaining conditions for the
Placing and Open Offer being satisfied, 100,000,000 C Shares (together with
20,000,000 New Warrants) will be issued raising approximately £98.6 million net
of expenses equating to a net asset value per C Share of approximately 98.6p.
The Placing and Open Offer are conditional upon, inter alia, the admission of
the C Shares and New Warrants to trading on AIM ('Admission'). It is expected
that Admission will become effective and dealings in the C Shares and New
Warrants will commence on AIM and on the Bermuda Stock Exchange on 12 May 2006.
Enquiries:
Utilico Emerging Markets Utilities Limited Tel. 0137 227 1486
Charles Jillings
Arbuthnot Securities Limited Tel. 0207 012 2000
Alastair Moreton
THESE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US
SECURITIES ACT OF 1933, AS AMENDED (THE 'SECURITIES ACT'), OR WITH ANY
SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION OF THE UNITED
STATES. THE OFFER, SALE, PLEDGE OR TRANSFER OF THESE SECURITIES IS SUBJECT TO
CERTAIN CONDITIONS AND RESTRICTIONS. THE HOLDER HEREOF, BY PURCHASING OR
OTHERWISE ACQUIRING THESE SECURITIES, ACKNOWLEDGES THAT THESE SECURITIES HAVE
NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND THAT THE ISSUER
HAS NOT REGISTERED AND WILL NOT REGISTER UNDER THE US INVESTMENT COMPANY ACT OF
1940, AS AMENDED (THE 'INVESTMENT COMPANY ACT'). THE HOLDER AGREES FOR THE
BENEFIT OF THE ISSUER, ANY DISTRIBUTORS OR DEALERS AND ANY SUCH PERSONS'
AFFILIATES THAT THESE SECURITIES MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT, THE INVESTMENT COMPANY
ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND ONLY (1) IN AN OFFSHORE
TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT TO A NON-US
PERSON (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT, 'US PERSON') OR (2)
PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (PROVIDED
THAT, IF SUCH TRANSFER PURSUANT TO THIS CLAUSE (2) IS TO A US PERSON, THE
PURCHASER IS A QUALIFIED PURCHASER WITHIN THE MEANING OF THE INVESTMENT COMPANY
ACT), AND IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF THE
STATES OF THE UNITED STATES AND OTHER JURISDICTIONS. THE HOLDER ACKNOWLEDGES
THAT THE PURPOSE OF THE FOREGOING LIMITATION IS, IN PART, TO ENSURE THAT THE
ISSUER IS NOT REQUIRED TO REGISTER UNDER THE INVESTMENT COMPANY ACT.
Arbuthnot Securities Limited, which is authorised and regulated by the Financial
Services Authority, is acting for the Company only and will not be responsible
to any other person for providing the protections afforded to customers of
Arbuthnot Securities Limited or for advising such person on the matters referred
to in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
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