13 October 2020
UIL FINANCE LIMITED
(LEI Number: 213800JPJWZ5P3QJX538)
(LEI Number: 213800CTZ7TEIE7YM468)
Redemption of 2020 ZDP Shares
UIL Finance Limited (the "Company") announces that redemption proceeds will be paid to holders of the Company's zero dividend preference shares of 6.0514p each due for redemption on 31 October 2020 ("2020 ZDP Shares") whose names appear on the register as at the close of business on Wednesday 28 October 2020 (the "Record Date") and settlement of the redemption monies will occur on the business day prior to Saturday 31 October 2020 (the "Redemption Date"). In light of market conditions, on this occasion the Company has decided not to offer a rollover option to holders of 2020 ZDP Shares as an alternative to redemption.
For 2020 ZDP Shares held in uncertificated form, CREST accounts will be credited with the redemption monies on the business day prior to the Redemption Date. For 2020 ZDP Shares held in certificated form, cheques in respect of the redemption monies will be sent by first class post shortly after the Redemption Date.
The Company also announces that an application has been made to the London Stock Exchange ("LSE") for a halt in trading in the 2020 ZDP Shares on the LSE with effect from 8:00am on Thursday 29 October 2020. Applications will also be made shortly to the Financial Conduct Authority and the LSE for the 2020 ZDP Shares to be cancelled from the Official List and from trading on the LSE with effect from 8.00am on 11 November 2020.
Name of contact and telephone number for enquiries:
Charles Jillings, Alastair Moreton
ICM Investment Management Limited
Telephone: 01372 271486