For immediate release
30 March 2015
UTILICO INVESTMENTS LIMITED
Portfolio holding in Touchcorp Limited
Further to the announcement on 12 March 2015 in relation to Utilico Investments Limited's ("Utilico") shareholding in Touchcorp Limited ("Touchcorp"), Utilico is pleased to advise that Touchcorp shares will commence trading on the Australian Stock Exchange ("ASX") on Tuesday 31 March, following its IPO.
Touchcorp provides mobile payment applications, interactive voice recognition systems, self-service kiosks, ATMs, electronic cash register systems, and terminal payment systems to allow access to its customers' services or the purchase of their products at retail premises and via the internet.
Under the IPO, Utilico and Vix Investments ( "Vix") sold a proportion of their holdings at $1.40 per share and Vix has distributed its remaining interest in Touchcorp to its two parent company shareholders. Following this Utilico will receive cash of A$11.7m and hold a direct investment of 24.0m shares (representing 20.7% of the issued capital of Touchcorp). This remaining holding is subject to restrictions on disposal (except in certain customary limited circumstances) until after the publication by Touchcorp of its preliminary final report for the financial year ending 31 December 2015. As noted in the previous announcement, at the IPO price of A$1.40, Utilico's net asset value will increase by approximately 8 pence per share and post the IPO, Utilico's holding of Touchcorp shares will be valued at fair value using market bid prices in accordance with Utilico's accounting policies.
Director ICM Limited
Telephone 01372 271486
This information is provided by RNS