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IN BRIEF: Utilico Emerging Markets value of investee company increases

24th Mar 2023 11:31

Utilico Emerging Markets Trust PLC - Surrey-based investment trust - Says the carrying value of investee company Petalite Ltd, in which the company is a 28.6% shareholder, will be increased to the valuation at the last fundraise which was effected in June 2022. This increase results in an additional GBP9.9 million, about 4.90 pence per share, to net asset value.

In November, Utilico said its NAV per share on September 30 was 243.29 pence, down 4.3% from 254.22 pence on March 31 and down 2.5% from 249.63 a year ago.

"The board is pleased to note the continued strategic developments and operational progress at Petalite subsequent to the last fundraise and will update the market on material developments as appropriate," Utilico says.

Current stock price: 208.00 pence, up 1.0% in London on Friday morning

12-month change: down 2.6%

By Sophie Rose, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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