REG - UIL Finance Ltd UIL Limited Utilico Limited 2014 UIL Finance - UTLG - Result of Issue of 2028 ZDP Shares

UILAnnouncement

21/04/2021 09:10

RNS Number : 1520W
  
UIL Finance Limited
  
21 April 2021
  
 

21 April 2021
 
UIL LIMITED
(LEI Number: 213800CTZ7TEIE7YM468)
 
UIL FINANCE LIMITED
(LEI Number: 213800JPJWZ5P3QJX538)
 
UIL Limited ("UIL" or the "Company")

UIL Finance Limited ("UIL Finance")
 
Results of Initial Issue
 
On 18 March 2021 UIL Finance announced proposals to issue up to 25 million new 2028 ZDP Shares by way of the Rollover Offer, the Initial Issue (comprising the Initial Placing, the Intermediaries Offer and the Offer for Subscription) and the Placing Programme. On 16 April 2021, UIL Finance announced that, following valid elections received pursuant to the Rollover Offer, a total of 19,842,502 new 2028 ZDP Shares will be issued and up to 5,157,498 new 2028 ZDP Shares remain available through the Initial Placing, the Intermediaries Offer and the Offer for Subscription.
 
Initial Issue
 
The Board of UIL Finance is pleased to announce that 4,573,763 new 2028 ZDP Shares will be issued at 100 pence per share to certain institutional and other investors pursuant to the Initial Issue, raising gross proceeds of approximately £4.6 million. In addition, the remaining 583,735 new 2028 ZDP Shares are being acquired by UIL at a price of 100 pence per 2028 ZDP Share and will be held by UIL for investment purposes in accordance with its investment policy.
 
Admission and dealings
 
Taking into account the 2028 ZDP Shares to be issued pursuant to the Rollover Offer and the Initial Issue, application has been made for 25,000,000 2028 ZDP Shares to be admitted to the Official List and to trading on the London Stock Exchange. Dealings are expected to commence at 8.00 a.m. on 23 April 2021. It is anticipated that CREST accounts will be credited (where applicable) on the same day and the 2028 ZDP Shares will trade using the ticker UTLI and ISIN BMG916101576. New share certificates in respect of the 2028 ZDP Shares and any balancing share certificates in respect of 2022 ZDP Shares will be issued as soon as practicable following Admission.
 
Following Admission, the Group's share capital will comprise 84,431,783 Ordinary Shares, 35,569,069 2022 ZDP Shares, 30,000,000 2024 ZDP Shares, 25,000,000 2026 ZDP Shares and 25,000,000 2028 ZDP Shares.
 
As all the 25 million 2028 ZDP Shares have been issued pursuant to the Rollover Offer and the Initial Issue, no further 2028 ZDP Shares will be available for issue under the Placing Programme and accordingly the Placing Programme will not be opened on 24 April 2020 as contemplated in the Prospectus.
 
Terms used and not defined in this announcement bear the meaning given to them in the Prospectus dated 18 March 2021.
 
Name of contact and telephone number for enquiries:
 
ICM Investment Management Limited                                  
Charles Jillings / Alastair Moreton                             +44(0) 1372 271486
 
Shore Capital                                                                                     
Rose Ramsden / Hugo Masefield                              +44(0) 20 7408 4090

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