Warrant Exercise

RNS Number : 5078Q

Utilico Emerging Markets Limited

04 August 2010

 



Utilico Emerging Markets Limited

Warrant exercise

Utilico Emerging Markets Limited (the "Company") announces that on the final exercise date of 2 August 2010 17,797,199 warrants and 3,873,480 S shares were exercised and therefore a total of 21,670,679 ordinary shares will be allotted at a price of 100p per ordinary share. Application will be made for these new ordinary shares to be admitted to trading on AIM and applications will also be made for listing on the Bermuda Stock Exchange and Channel Island Stock Exchange.

A total of 699,421 warrants and 1,011,722 S shares have not been exercised.  In accordance with the terms and conditions of the warrants and the S shares, the Company has appointed a trustee who, provided that in the trustee's opinion the net proceeds of sale (after deduction of all costs and expenses incurred) will exceed the costs of subscription, shall, on or before 16 August 2010, exercise all the unexercised rights of warrantholders and holders of S shares and sell the resulting ordinary shares for the benefit of such holders. The trustee will then distribute the net proceeds to the persons entitled thereto by 1 October 2010, except that entitlements amounting to less than £3.00 shall be retained for the benefit of the Company. All rights attaching to any warrants and S shares which are not exercised by the trustee prior to 16 August 2010 shall lapse on that date.

An application will also be made for any ordinary shares arising from the exercise by the trustee of any warrants and/or S shares as described above. A further announcement will be made by the Company in due course confirming whether the trustee has exercised any such warrants and/or S shares and updating the issued share capital of the Company. 

For further information, please contact:

F&C Management Limited	Arbuthnot Securities Limited
Martin Cassels	Alastair Moreton
0131 718 1095	Hannah Pearce
	0207 012 2000

 

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MSCLIFIATEISIII