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14/03/2025 12:30

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RNS Number : 7824A  UIL Limited  14 March 2025

14 March 2025

 

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

 

Publication of monthly factsheet

 

The latest monthly factsheet for UIL Limited ("UIL" or the "Company") will
shortly be available through the Company's website at:

https://www.uil.limited/investor-relations/factsheet-archive
(https://www.uil.limited/investor-relations/factsheet-archive)

 

Monthly commentary

 

PERFORMANCE

UIL's net asset value ("NAV") total return declined by 8.3% in February
underperforming the FTSE All Share total return Index which increased by 1.3%
over the month.

 

In January, Donald Trump was inaugurated as President of the United States and
in China, a little-known artificial intelligence ("AI") company, DeepSeek,
released a rival to ChatGPT to strong acclaim. The ramifications of both these
events dominated market sentiment in February.

 

The US markets ended February weaker with the NASDAQ Composite Index down by
4.0% and the S&P 500 Index down by 1.4% as Trump's statements seemed to
become increasingly erratic with increasing market concerns over the potential
impact of trade tariffs on the US economy and a resulting increase in
inflation. Europe's markets continued to firm with the FTSE 100 Index up by
1.6% and the Eurostoxx Index up by 3.3% during the month. In Australia, the
ASX 200 Index declined by 4.2%.

 

Chinese investors had a renewed enthusiasm for all things AI related,
re-rating technology mega-stocks Tencent and Alibaba, with the Hang Seng Index
up 13.4% in February. The MSCI Poland Index gained 6.6% on hopes of a
ceasefire between Russia and Ukraine. Political concerns, especially in
relation to a new sovereign wealth fund in Indonesia resulted in a 11.8% drop
in the Jakarta Stock Exchange Index and India's markets continued to weaken
with the SENSEX Index down 5.6%.

 

Metal prices generally firmed, with gold moving up by 2.1% in the month and
copper gained 5.5%. Brent Crude oil was down by 4.7% for the month.

 

Sterling strengthened 1.3% against the US Dollar, 1.4% against the Euro and
1.6% against the Australian Dollar in February.

 

PORTFOLIO UPDATE

UIL's top ten holdings are disclosed on a look through basis, taking into
account the underlying

investments of Somers Limited and Zeta Resources Limited. Carebook
Technologies replaced Alliance Nickel in the top ten, after Carebook
Technologies was taken private by UIL during the month.

 

Resimac remains the largest holding on a look through basis, and its share
price declined by 9.8% during the month after H1 25 results showed an increase
in loan impairment provisions.

 

ORDINARY SHARES

The share price of the ordinary shares was unchanged at 116.50p in February.
UIL bought back 88,069 shares during the month at an average price of 114.96p.

 

A second quarterly interim dividend of 2.00p per ordinary share in respect of
the year ending 30 June 2025, was declared and will be paid on 25 April 2025
to shareholders on the register on 28 March 2025.

 

ZDP SHARES

The share price of the 2026 ZDP shares was up by 0.8% to 131.50p whilst the
2028 ZDP shares decreased by 0.5% during the month.

 

 

Name of contact and telephone number for enquiries:

 

Charles Jillings

ICM Investment Management
Limited
+44(0)1372 271486

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