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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Utilico It | LSE:UIL | London | Ordinary Share | GB00B00KTN51 | ORD 1.5625P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 305.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1652V Utilico Investment Trust PLC 19 April 2007 19 April 2007 Utilico Investment Trust plc ("Utilico" or the "Company") Proposals to re-domicile to Bermuda and associated capital reorganisation The Board of Utilico announces that it is considering proposals to re-domicile the Company to Bermuda. It is expected that such a move would provide Utilico with greater investment flexibility since it would no longer seek to maintain its status as an investment trust. The proposals are likely to be implemented through the creation of a new Bermudan investment company, whose securities will also be listed on the official list and admitted to trading on the London Stock Exchange, with the same investment objective and policy as the Company and to which the Company's investment portfolio would be transferred. It is not anticipated that there would be any overall change in the day to day running of the Company as a result of the change in domicile, with the same executive team remaining in place and Ingot Capital Management Pty Limited, the Company's investment adviser, acting as investment manager. In addition, the Board is also considering proposals to undertake an associated capital reorganisation which is expected to include a fundraising by the new Bermudan investment company of up to #50 million through the issue of new zero dividend preference shares, an amendment of the terms of the existing warrants and a bonus issue of a new series of 2012 warrants to existing ordinary shareholders and warrantholders. Any implementation of the proposals would be subject to the consent of the Company's shareholders and warrantholders. In addition to the above proposals the Company is also proposing to exercise its redemption rights, prior to the re-domicile of the Company, to compulsorily redeem its 3.75 per cent. subordinated convertible loan stock 2009 ("CULS"), notice of which will be sent to CULS holders on or as soon as practicable after the 30 April 2007. Prior to the compulsory redemption date, CULS holders will be able to convert their CULS into ordinary shares of the Company. A further announcement will be made in due course. Enquiries: Arbuthnot Securities Limited 020 7012 2000 Alastair Moreton This information is provided by RNS The company news service from the London Stock Exchange END MSCUKVARBWRSAAR
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