Ecofin Water & Power Opps PLC Net Asset Value(s) (5961D)

TIDMECWO

RNS Number : 5961D

Ecofin Water & Power Opps PLC

07 July 2016

ECOFIN WATER & POWER OPPORTUNITIES PLC (the "Company")

The Company announces that at the close of business on 6 July, 2016, the un-audited Net Asset Values per Ordinary Share and ZDP Share were:-

 
 Share Class                    NAV (p)   Increase/(Decrease)   Absolute Movement 
                                                            %                 (p) 
                     (inc undistributed 
                               revenue) 
 Ordinary Shares                 169.46                  3.99                6.50 
 Ordinary Shares 
  Diluted*                          n/a                   n/a                 n/a 
 
 
   ZDP Shares                    160.70                  0.00                0.00 
 

*The Company's 6% Convertible Unsecured Subordinated Loan Stock 2016 in issue will not necessarily dilute the Ordinary Shares' Net Asset Value but may do so. Where no dilution of NAV takes place the value boxes on this line will show "not applicable". A diluted NAV assumes that the 6% Convertible Unsecured Subordinated Loan Stock has been converted at the conversion price of 172.6445p.

 
 Fund values (rounded)                GBP'000   GBP'000 
                                     -------- 
 Total Assets (less cash at bank)               344,436 
 
 Cash at Bank                                   199,801 
 
 Total Assets                                   544,237 
 
 Borrowings: 
 Prime Brokerage                       12,335 
 6% CULS 2016                          79,801 
 ZDP Shares                            96,420 
                                     -------- 
                                                188,556 
 
 Net Assets (Ordinary Shareholders 
  Funds)                                        355,681 
 
 Net cash (net cash/net assets) **                 3.2% 
-----------------------------------  --------  -------- 
 

** Net cash is bank debt, the Convertible Unsecured Subordinated Loan Stock and the Zero Dividend Preference Shares, less cash at bank, including brokers net outstanding balances.

Notes:

The total assets of the Company include approximately GBP5.6m in bonds. Adjusted for this, the total equity exposure of the Company is 95.3% of net assets.

The NAV has been prepared on a "break-up" or realisable value basis following the approval of the Continuation Vote by Shareholders on 24 June, 2016. Details of the accounting adjustments and the accrual of liquidation costs are detailed in the 31 March, 2016 interim accounts announced on 30 June, 2016.

BNP Paribas Secretarial Services Limited

Company Secretary

Tel: [phone]

7 JULY, 2016

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 07, 2016 10:54 ET (14:54 GMT)