20 Nov 2009 14:10
ECOFIN WATER & POWER OPPORTUNITIES PLC | |||||
It is announced that at the close of business on 18 November 2009, the un-audited Net Asset Values | |||||
per Ordinary Share and ZDP Shares of the above investment trust company were:- | |||||
Share Class | NAV (p) | Increase / (Decrease) | Absolute movement | ||
(inc. undistributed revenue) | % | (p) | |||
Ordinary Shares | 173.93 | (4.62) | (8.43) | ||
Ordinary Shares (dilutive)* | 172.90 | (3.32) | (5.93) | ||
ZDP Shares | 102.10 | 0.13 | 0.13 | ||
\* The Company's Subscription Shares and 6% Convertible Unsecured Loan Stock 2016 in issue may, but | |||||
not necessarily will, dilute the Ordinary Shares Net Asset Value. | |||||
Where no dilution of Net Asset Value takes place the value box on this line will indicate "not applicable". | |||||
The diluted NAV assumes that the subscription shares rights have been exercised at 168p (closing strike | |||||
price up to 31 May 2010) and that the 6% Convertible Unsecured Loan Stock has been converted at the | |||||
conversion price of 172.6445p. | |||||
Fund Values |
| £ '000 | |||
|
|
| |||
Total Assets (less cash at bank) | 511,330 | ||||
|
| ||||
Cash at Bank | 14,641 | ||||
|
| ||||
Total Assets | 525,971 | ||||
|
| ||||
Borrowings: |
| ||||
Prime Brokerage | 18,902 |
| |||
6% CULS 2016 | 80,000 |
| |||
ZDP Shares | 61,259 |
| |||
| 160,160 | ||||
|
| ||||
Net Assets (Ordinary Shareholders Funds) |
| 365,811 | |||
Gearing (net debt/net assets) |
| 39.80% | |||
NB: The assets of the company include approximately £49.40m in bonds, and put options representing | |||||
approximately £4.40m on a delta adjusted basis. Adjusted for these two components, the total equity | |||||
exposure of the Company is 125.07% of net assets. | |||||
Phoenix Administration Services Limited | |||||
Company Secretary |