Performance fee

RNS Number : 0326C

Utilico Emerging Markets Limited

10 April 2013

 



For immediate release on 10 April 2013

Utilico Emerging Markets Limited

Performance Fee and PDMR Shareholdings

Utilico Emerging Markets Limited ("UEM") has today settled the performance fee for the year ended 31 March 2013 payable to ICM Limited ("ICM"), UEM's investment manager, amounting to £9,467,435.  Half the performance fee is payable in cash and half is payable in UEM ordinary shares.  The share portion amounted to 2,305,419 UEM ordinary shares ("Performance Fee Shares") calculated on UEM's cum income NAV as at 31 March 2013 of 205.33p.

On 10 April 2013 ICM purchased 2,305,419 UEM ordinary shares at a price of 195.75p per share, a discount to the last published cum income NAV per share of 202.94p.  UEM will reimburse ICM to meet the consideration paid by ICM for these shares.

In addition, ICM has today transferred 384,236 Performance Fee Shares to Charles Jillings at a price of 195.75p per share for services provided to ICM in respect of the management of UEM.  Mr Jillings' resultant interest in UEM now amounts to 384,236 UEM ordinary shares, representing 0.18% of the shares in issue.

ICM is interested in 3,447,742 UEM ordinary shares representing 1.6% of the ordinary shares in issue.

For further information please contact:

ICM Limited

Charles Jillings

01372 271486

Westhouse Securities Limited

Alastair Moreton

Darren Vickers

0207 601 6118

 

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