For immediate release on 13 April 2015
Utilico Emerging Markets Limited
Performance Fee and PDMR Shareholdings
Utilico Emerging Markets Limited ("UEM") has settled the performance fee for the year ended 31 March 2015 payable to ICM Limited ("ICM"), UEM's investment manager, amounting to £3,065,254. Half the performance fee is payable in cash and half is payable in UEM ordinary shares. The share portion amounted to 730,483 UEM ordinary shares ("Performance Fee Shares"), calculated on UEM's cum income NAV as at 31 March 2015 of 209.81p.
On 10 April 2015 ICM informed UEM that on that date it purchased 730,483 UEM ordinary shares at a price of 206.5p per share, a discount to the last published cum income NAV per share of 220.93p. UEM will reimburse ICM to meet the consideration paid by ICM for these shares.
Of the Performance Fee Shares, 280,150 Performance Fee Shares were purchased by ICM on behalf of Charles Jillings at a price of 206.5p per share for services provided to ICM in respect of the management of UEM. Mr Jillings' resultant interest in UEM now amounts to 344,400 UEM ordinary shares, representing 0.16% of the shares in issue.
ICM is interested in 450,333 UEM ordinary shares representing 0.21% of the ordinary shares in issue.
For further information please contact:
Westhouse Securities Limited
0207 601 6118
This information is provided by RNS