1 March 2018
UTILICO EMERGING MARKETS LIMITED (the "Company")
(LEI Number: 213800UYZLSYB84N2H09)
Further Exercise and Sale of Subscription Shares and Allotment of Ordinary Shares
Further to the announcement on 1 March 2018 the Company announces that it has been informed by the trustee appointed by the Company in accordance with the terms of the subscription shares of 0.005 pence each (the "Subscription Shares") as set out in the prospectus published by the Company on 3 September 2015, that it has exercised all the outstanding Subscription Shares. A total of 28,865,465 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") have therefore been issued and allotted, following the final subscription date of 28 February 2018. The Ordinary Shares rank pari passu with the existing Ordinary Shares in issue.
Following the exercise of rights attaching to the Subscription Shares by the trustee, a total of 8,408,951 Ordinary Shares have today been sold. 3,650,000 Ordinary Shares have today been sold at a price of 223.5 pence per Ordinary Share. The remainder of 4,758,951 Ordinary Shares have today been purchased for cancellation by the Company at a price of 223.5 pence per Ordinary Share. In accordance with the terms of the Subscription Shares, holders on whose behalf the trustee has exercised rights and sold the resulting Ordinary Shares, will receive the net proceeds of such sale over the subscription price, less associated costs and expenses, as soon as practicable (except for aggregate entitlements of less than £5.00 which will be retained by the Company). The Company has also today purchased for cancellation a further 4,333 Ordinary Shares at a price of 223.5 pence per Ordinary Share.
Applications have been made to the UK Listing Authority (the "UKLA") and the London Stock Exchange (the "LSE") for the Ordinary Shares arising from the exercise of the subscription rights to be admitted to the premium segment of the Official List and to trading on the main market of the LSE. It is expected that admission and commencement of dealings in the ordinary shares will take place on 5 March 2018.
Application will shortly be made to the UKLA and the LSE for the Subscription Shares to be cancelled from the Official List and trading on the LSE with effect from 8.00 a.m. on 3 April 2018.
Following the allotment of the Ordinary Shares and the purchase for cancellation referred to above the Company's issued ordinary share capital will consist of 234,508,636 Ordinary Shares. This figure 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 FCA's Disclosure Guidance and Transparency Rules.
Name of contact and telephone number for enquiries:
ICM Limited 01372 271486
Charles Jillings/Alastair Moreton
This information is provided by RNS