UIL Limited Director/PDMR Shareholding - Saville (5497V)

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RNS Number : 5497V

UIL Limited

07 August 2020

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 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 ("ICM"), 
                                    Joint Portfolio Manager of UIL Limited 
     --------------------------  ------------------------------------------------- 
 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,        Ordinary shares of 10p each 
       type of instrument 
 
       Identification code          BMG917071026 
     --------------------------  ------------------------------------------------- 
 b)   Nature of the transaction 
                                    Changes to shares pledged and/or 
                                    loaned by entities related to Mr 
                                    Saville. Mr Saville's aggregate interest 
                                    in UIL's ordinary shares remains 
                                    the same as a result of these changes 
                                    and comprises the following holdings: 
                                     Holder                    Shares       % 
                                     General Provincial 
                                      Life Pension 
                                      Fund Limited         54,851,533   63.83 
                                                          -----------  ------ 
                                     Union Mutual 
                                      Pension Fund 
                                      Limited               4,229,538    4.92 
                                                          -----------  ------ 
                                     General Provincial 
                                      Company Limited       3,150,000    3.67 
                                                          -----------  ------ 
                                     The Saville 
                                      Foundation*              93,750    0.11 
                                                          -----------  ------ 
                                     Azure Limited 
                                      (non beneficial)         11,000    0.01 
                                                          -----------  ------ 
 
                                    * As Trustee 
                                    Under existing agreements, the following 
                                    shares are pledged and/or loaned: 
                                    General Provincial Life Pension Fund 
                                    Limited ("GPLPFL") has lent 6,000,000 
                                    ordinary shares of the Issuer to 
                                    Custodial Capital Management Limited 
                                    ("CCML") which have been pledged 
                                    under a security interest agreement 
                                    related to a loan facility agreement 
                                    with The Royal Bank of Scotland International; 
                                    GPLPFL has lent 300,000 ordinary 
                                    shares of the Issuer to a third party 
                                    which have been pledged under a loan 
                                    facility agreement with Bermuda Commercial 
                                    Bank Limited; and Union Mutual Pension 
                                    Fund Limited ("UMPFL") has lent 2,000,000 
                                    ordinary shares of the Issuer to 
                                    Permanent Mutual Limited ("PML") 
                                    which have been pledged under a security 
                                    interest agreement related to a loan 
                                    facility agreement with The Royal 
                                    Bank of Scotland International. The 
                                    ultimate parent undertaking of GPLPFL, 
                                    CCML, UMPFL and PML is Somers Isles 
                                    Private Trust Company Limited ("SIPTCL") 
                                    as trustee of various trusts of which 
                                    Mr Saville is the beneficiary. Mr 
                                    Saville is the owner of SIPTCL. 
     --------------------------  ------------------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)   Volume(s) 
                                     N/A        N/A 
                                               ---------- 
     --------------------------  ------------------------------------------------- 
 d)   Aggregated information 
                                    N/A 
 
       - Aggregated volume 
 
 
       - Price 
     --------------------------  ------------------------------------------------- 
 e)   Date of the transaction 
                                    6 August 2020 
     --------------------------  ------------------------------------------------- 
 f)   Place of the transaction 
                                    Off Market 
     --------------------------  ------------------------------------------------- 
 

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August 07, 2020 10:50 ET (14:50 GMT)