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Premier Energy&Water (PMGR)

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Monday 14 December, 2015

Premier Energy&Water

Results of Elections by ZDP Shareholders

14 December 2015

PEWT Securities PLC (“PEWT Securities” or the “Company”)

Results of Elections by ZDP Shareholders

On 20 November 2015, PEWT Securities plc (“PEWT Securities”), a wholly owned subsidiary of Premier Energy and Water Trust plc, published a circular containing details of a scheme of reconstruction of PEWT Securities (the “Scheme”) and proposals to, inter alia, offer the holders of Existing ZDP Shares in PEWT Securities the opportunity to elect to roll their investment into New ZDP Shares in PEWT Securities 2020 plc ("PEWT Securities 2020").

The Board of PEWT Securities is pleased to announce the results of the Elections.

Elections by ZDP Shareholders to participate in the Rollover Option exceeded the Maximum Issue Size, meaning that such Elections have been scaled back on a pro-rata basis. Each ZDP Shareholder who made a valid Election to receive New ZDP Shares will receive approximately 1,871 New ZDP Shares and £346.80 in cash for every 1,000 Existing ZDP Shares held on the Effective Date and for which they made a valid Election. Conditional on the Scheme becoming effective, 24,073,337 New ZDP Shares will be issued by PEWT Securities 2020. As the Maximum Issue Size was reached through the Rollover Option, there will be no Placing of New ZDP Shares.

Application will be made for the New ZDP Shares to be admitted to the Official List and to trading on the London Stock Exchange and dealings are expected to commence at 8.00 a.m. on 4 January 2016. It is anticipated that CREST accounts will be credited (where applicable) on the same day and the New ZDP Shares will trade using the ticker PEZ and under the ISIN GB00BYP98L62. New share certificates in respect of the New ZDP Shares will be issued as soon as practicable following admission.

Expected timetable of principal events

Announcement of the results of Rollover Offer 14 December 2015
Date from which dealings in Existing ZDP Shares should only be for cash settlement and immediate delivery of documents of title 21 December 2015
Announcement of the results of the First General Meeting of PEWT Securities 21 December 2015
Reclassification of Existing ZDP Shares into Reclassified Shares* – A Shares (with rights to receive New ZDP Shares) and B Shares (with rights to receive cash) 8.00 a.m. on 30 December 2015
Dealings in Reclassified Shares suspended 7.30 a.m. on 31 December 2015
Announcement of the results of the Second General Meeting of PEWT Securities 31 December 2015
Publication of the results of the Scheme 31 December 2015
If the Scheme becomes unconditional:
Cancellation of the Existing ZDP Shares from the Official List 8.00 a.m. on 4 January 2016
Admission and commencement of dealings in New ZDP Shares of PEWT Securities 2020 (ISIN: GB00BYP98L62) 8.00 a.m. on 4 January 2016
CREST stock accounts expected to be credited in respect of New ZDP Shares As soon as practicable after 8.00 a.m. on 4 January  2016
Despatch of share certificates in respect of New ZDP Shares 8 January 2016
Consideration expected to be despatched to ZDP Shareholders who elect or are deemed to elect for the Cash Option 8 January 2016

Capitalised terms used but not defined in this announcement have the meanings set out in the circular of PEWT Securities dated 20 November 2015.

*Reclassified Shares are a technical requirement of the Scheme and will be created if the Resolution to be proposed at the First General Meeting is passed and becomes effective.

-The End -

Enquiries:

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

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