28th Jul 2016 16:50
ECOFIN WATER & POWER OPPORTUNITIES PLC (the "Company")
The Company announces that at the close of business on 27 July, 2016, the un-audited Net Asset Values per Ordinary Share and ZDP Share were:-
Share Class | NAV (p) (inc undistributed revenue) | Increase/(Decrease) % | Absolute Movement (p) |
Ordinary Shares | 164.93 | -1.22 | -2.04 |
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) | £'000 | £'000 |
Total Assets (less cash at bank) | 306,535 | |
Cash at Bank | 217,911 | |
Total Assets | 524,446 | |
Borrowings: | ||
Prime Brokerage | 2,053 | |
6% CULS 2016 | 79,801 | |
ZDP Shares | 96,420 | |
178,274 | ||
Net Assets (Ordinary Shareholders Funds) | 346,172 | |
Net cash (net cash/net assets) ** | 11.5% |
** 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 £5.3m in bonds. Adjusted for this, the total equity exposure of the Company is 87.0% 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: 020 7410 5971
28 JULY, 2016
Related Shares:
ECWO.L