16 April 2021
(LEI Number: 213800CTZ7TEIE7YM468)
UIL FINANCE LIMITED
(LEI Number: 213800JPJWZ5P3QJX538)
UIL Limited ("UIL" or the "Company")
UIL Finance Limited ("UIL Finance")
Additional Rollover Elections
On 14 April the Company announced that valid elections had been received from Eligible Shareholders by the Closing Date in respect of a total of 11,791,350 2022 ZDP Shares (representing approximately 23.6 per cent. of the total number of 2022 ZDP Shares in issue).
Late Elections Received
Following the announcement on 14 April the Company has received further elections from Eligible Shareholders in respect of a total of 2,639,581 2022 ZDP Shares (representing approximately 5.3 per cent. of the total number of 2022 ZDP Shares in issue). The directors have determined to use their discretion to accept elections made following the Closing Date and accordingly a total of 14,430,931 2022 ZDP Shares have been validly elected pursuant to the Rollover Offer (representing approximately 28.9 per cent. of the total number of 2022 ZDP Shares in issue). As a result, a total of 19,842,502 new 2028 ZDP Shares will be issued on the basis of 1.375 new 2028 ZDP Shares issued for every 2022 ZDP Share.
UIL Finance is proposing to issue up to 5,157,498 new 2028 ZDP Shares pursuant to the Initial Placing, the Intermediaries Offer and the Offer for Subscription. Shore Capital Stockbrokers Limited has agreed under the Placing Agreement to use its reasonable endeavours to procure placees for the 2028 ZDP Shares at the Issue Price.
Orders under the Placing and completed application forms in relation to the Intermediaries Offer must be received by Shore Capital by 11.00 a.m. on 20 April 2021. Completed application forms in relation to the Offer for Subscription must be received by Computershare by 11:00am on 20 April 2021. If the Initial Issue is extended, the revised timetable will be notified via a Regulatory Information Service.
It is expected that the results of the Initial Issue will be announced on or around 21 April 2021.
Admission and dealings
Application has been made for the 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.
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
Rose Ramsden / Hugo Masefield +44(0) 20 7408 4090