Issue of Equity

RNS Number : 2071Y

Premier Energy & Water Trust PLC

17 December 2010

 



Premier Energy and Water Trust PLC

Share issue

For immediate release

17 December 2010

Reconstruction Proposals whereby Premier Renewable Energy Fund Limited ("PREF") is liquidated and its shareholders offered the opportunity to roll over their investment into New Shares to be issued by Premier Energy and Water Trust PLC ("PEWT") were set out in a circular to PREF Shareholders dated 30 November 2010 accompanied by a Prospectus issued by PEWT.  Words and expressions in this announcement have the same meanings as in that Prospectus.

The reconstruction Proposals have now been approved and the Board of PEWT has allotted 3,965,415 New PEWT Ordinary Shares and 2,779,377 New PEWT ZDP Shares in respect of the portfolio of assets acquired from PREF.  In order to maintain broadly the same proportion of PEWT Ordinary Shares to PEWT ZDP Shares, the Board has also allotted 2,064,600 new PEWT ZDP Shares, which have been placed for cash at a price of 168 pence each by Fairfax I.S. PLC.  These allotments are subject solely to the admission of the 3,965,415 New PEWT Ordinary Shares and 4,843,977 New PEWT ZDP Shares to Listing and to trading on the main market of London Stock Exchange PLC.  Application for Admission has been applied for and it is expected that dealings will commence on 20 December 2010.

Following the above issue of New PEWT Shares, the issued share capital of PEWT comprises:

17,068,480 Ordinary Shares of 1p each with ISIN GB0033537902; and

21,180,373 Zero Dividend Preference Shares of 1p each with ISIN GB0033538207.

Both the above classes of share carry the right to vote at general meetings of PEWT.

For further information contact:

Premier Fund Managers Limited

Nigel Sidebottom                                                                                  Tel: [phone]

Fairfax I.S. PLC (sponsor, adviser and joint broker to PEWT)

David Floyd / Gillian McCarthy                                                             Tel: [phone]

 

END

 

 

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