For immediate release on 10 April 2017
Utilico Emerging Markets Limited
Utilico Emerging Markets Limited ("UEM") has settled the performance fee for the year ended 31 March 2017 payable to ICM Limited ("ICM") and ICM Investment Management Limited ("ICMIM"), UEM's investment managers, amounting to £9.2 million. Half the performance fee is payable in cash and half is payable in UEM ordinary shares. The share portion amounted to 1,898,582 UEM ordinary shares, calculated on UEM's diluted cum income NAV as at 31 March 2017 of 241.30p.
On 10 April 2017, ICM and ICMIM informed UEM that on that date they had purchased, respectively, 1,208,764 and 689,818 UEM ordinary shares at a price of 219.00p per share, a discount to the last published diluted cum income NAV per share of 243.55p. UEM will reimburse ICM and ICMIM to meet the consideration paid by ICM and ICMIM for these shares.
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