Court Approves Scheme and Reduction of Capital

16 September 2014

              Premier Energy and Water Trust PLC (the "Company")               

                Court Approves Scheme and Reduction of Capital                 

As first announced on 24 July 2014, the Company is implementing a restructuring
through a Scheme of Arrangement under Part 26 of the Companies Act 2006 (the
"Scheme"). The Company is pleased to announce that the Court has approved the
Scheme and Reduction of Capital earlier today and has issued Court Orders
confirming the same.

The last day of dealings in, and registration of, the ZDP Shares is today. The
record date for the Scheme is 6pm today.

The Scheme and the Reduction of Capital will become effective on delivery of
the Court Orders to the Registrar of Companies. Such delivery will be made
between 00.01hrs and 07.00hrs on 17 September such that the Scheme and
Reduction of Capital will become effective on 17 September (prior to 07.00hrs).

Accordingly, application has been made to the UK Listing Authority to cancel
the Company's ZDP Shares listed on the Official List and admission to trading
on the Main Market of the LSE with effect from 8.00 a.m. on 17 September 2014,
and application has been made by the Company's wholly owned subsidiary, PEWT
Securities ("PEWT Securities"), for the admission of 21,180,373 New ZDP Shares
to the standard listing segment of the Official List and to trading on the Main
Market with effect from 8.00 a.m. on 17 September 2014.

The New ZDP Shares will rank pari passu in all respects with the ZDP Shares.

CREST accounts will be credited with New ZDP Shares on 17 September 2014 and
share certificates in respect of New ZDP Shares will be despatched no later
than 29 September 2014.

Terms not defined in this announcement shall have the same meaning as in the
circular to shareholders dated 1 August 2014.

Enquiries:

Premier Fund Managers Limited           + 44 (0) 1483 30 60 90                 
Nigel Sidebottom                                                               
James Smith                                                                    
Claire Long                                                                    
                                                                               
N+1 Singer                              + 44 (0) 20 7496 3000                  
James Maxwell                                                                  
Gillian Martin