24 April 2018
(LEI Number: 213800CTZ7TEIE7YM468)
UIL Limited ("UIL" or the "Company")
UIL Finance Limited ("UIL Finance")
together the "UIL Group"
Result of Placing, Intermediaries Offer and Offer for Subscription
On 23 March 2018 the UIL Group published a prospectus, which was approved by the UK Listing Authority (the "Prospectus"), in connection with the Initial Issue comprising the Initial Placing, Intermediaries Offer and Offer for Subscription of up to 25 million 2026 ZDP Shares and a Placing Programme of up to 25 million 2026 ZDP Shares (less the number of 2026 ZDP Shares issued pursuant to the Initial Issue).
Result of Initial Placing, Intermediaries Offer and Offer for Subscription
The Board of UIL Finance is now pleased to announce that UIL Finance has raised gross proceeds of approximately £10.6 million through the issue of 10,616,760 new 2026 ZDP Shares at 100 pence per 2026 ZDP Share through the Initial Placing, Intermediaries Offer and Offer for Subscription. In addition, the remaining 14,383,240 new 2026 ZDP Shares are being acquired by UIL at a price of 100 pence per 2026 ZDP Share and will be held by UIL for investment purposes in accordance with its investment policy.
Admission and Dealings
Applications have been made for 25,000,000 2026 ZDP Shares to be admitted to the standard listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. Dealings are expected to commence at 8.00 a.m. on 26 April 2018. It is anticipated that CREST accounts will be credited (where applicable) on the same day and the 2026 ZDP Shares will trade using the ticker UTLH and under ISIN BMG916101402. New share certificates in respect of the 2026 ZDP Shares will be issued as soon as practicable following admission.
Following admission, the UIL Group's share capital will comprise 89,493,389 Ordinary Shares, 32,716,029 2018 ZDP Shares, 39,000,000 2020 ZDP Shares, 50,000,000 2022 ZDP Shares, 50,000,000 2024 ZDP Shares and 25,000,000 2026 ZDP Shares.
As the Initial Issue has been fully subscribed, no further 2026 ZDP Shares will be available for issue under the Placing Programme and accordingly the Placing Programme will not be opened on 27 April 2018 as contemplated in the Prospectus.
Terms used and not defined in this announcement bear the meaning given to them in the Prospectus published on 23 March 2018.
For further information please contact:
ICM Investment Management Limited 01372 271486
Charles Jillings / Alastair Moreton
Stockdale Securities Limited 020 7601 6115
Robert Finlay / Rose Ramsden