REG - UIL Limited UIL Finance Ltd Utilico Limited 2014 UIL Finance - UTLG Utilico Finance (D) - Portfolio update – Zeta Resources Limited

UILAnnouncement

08/10/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241008:nRSH2610Ha&default-theme=true

RNS Number : 2610H  UIL Limited  08 October 2024

8 October 2024

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

Portfolio update - Zeta Resources Limited

The Board of UIL Limited ("UIL") is pleased to report a significant
transaction within the portfolio of its investee subsidiary company Zeta
Resources Limited ("Zeta").

 

Zeta announced earlier today that it expects to receive approximately USD 41
million from Koumbia Bauxite Investments Ltd ("KBI"), an unlisted Bermuda
based company in which Zeta is a 41.3% shareholder and is Zeta's largest
investment.  KBI has agreed to terminate its commercialisation deed with
Alliance Mining Commodities Ltd ("AMC"), the 90% owner of the Koumbia bauxite
project located in Guinea, in exchange for a cash payment of USD 100 million
from the 100% owner of AMC.  The payment from KBI is expected to be received
by Zeta within one week and is in line with Zeta's carrying value of KBI as at
30 September 2024.

 

KBI represents approximately 8% of UIL's investment portfolio as at 30
September 2024 on a look through basis.

 

 

Name of contact and telephone number for enquiries:

 

Charles Jillings

ICM Investment Management Limited

Telephone: 01372 271486

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PFUFSFFAWELSEIS