20th Jun 2016 09:44
ECOFIN WATER & POWER OPPORTUNITIES PLC (the "Company")
Portfolio Update
The Company is pleased to announce the successful placement of its entire equity holding in Direct Energie, representing 4.37% of Direct Energie's share capital.
Pursuant to the placing, the sale of this holding, which represented 8.2% of the Company's portfolio at 15 June, 2016, will raise £34.9 million. By 15 June, 2016, the shares had appreciated 41% since the Company's half-year end on 31 March, 2016 and by over 100% during the previous 12 months.
The net asset value of the Company's Ordinary Shares was 149.80p as at 15 June, 2016. The impact of this disposal on the net asset value of the Company's Ordinary Shares is a reduction of approximately 1.6%. The holding was placed at a discount to the previous day's closing market price owing to the small free float and limited liquidity in Direct Energie's shares.
BNP Paribas Secretarial Services Limited Nariman Ghandhi, Company Secretary
| 020 7410 5971 |
Winterflood Investment Trusts Joe Winkley James Moseley | 020 3100 0000 |
Ecofin Limited John Murray Elspeth Dick |
020 7451 2929 |
20 June, 2016
Related Shares:
ECWO.L