RNS Number : 7921S
UIL Limited
27 June 2018
 

Persons Discharging Managerial Responsibilities and persons closely associated with them notification

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Duncan Saville

 

2

Reason for the notification

a)

Position/status

Director of ICM Limited, Joint Portfolio Manager of the Issuer.

 

b)

Initial notification /Amendment

Initial notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

UIL Limited

 

b)

LEI

213800CTZ7TEIE7YM468

 

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

 

-     Identification code

Ordinary shares of 10p each

 

BMG917071026

b)

Nature of the transaction

A restructuring of existing entities that indirectly hold ordinary shares in the Issuer has resulted in Mr Saville now having an interest in the following shares:

Holder

Shares

%

General Provincial Life Pension Fund Limited

56,001,533

62.58

Permanent Mutual Limited

6,629,977

7.41

Azure Limited

217,061

0.24

The Saville Foundation*

93,750

0.10

* As Trustee

Under existing agreements, the following shares are pledged and/or loaned:

General Provincial Life Pension Fund Limited has lent 10,000,000 ordinary shares of the Issuer to Custodial Capital Management Limited, a company which is also owned by Mr Saville. These shares have been pledged under a security interest agreement related to a loan facility agreement with The Royal Bank of Scotland International.

 

General Provincial Life Pension Fund Limited has lent 3,025,003 ordinary shares of the Issuer to Alliance life Common Fund Limited, a company which is also owned by Mr Saville. These shares have been pledged under a loan facility agreement with Bermuda Commercial Bank Limited.

 

General Provincial Life Pension Fund Limited has lent 300,000 ordinary shares of the Issuer to a third party. These shares have been pledged under a loan facility agreement with Bermuda Commercial Bank Limited.

 

Permanent Mutual Limited has pledged 5,784,977 ordinary shares of the Issuer under a security interest agreement related to a loan facility agreement with The Royal Bank of Scotland International.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 n/a

n/a

  

 

 

 

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

 

 

 

e)

Date of the transaction

26 June 2018

 

f)

Place of the transaction

N/A

 

 

 

 

 

 

 

 

 

 

 


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