27 Aug 2010 14:11
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| ECOFIN WATER & POWER OPPORTUNITIES PLC |
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| It is announced that at the close of business on 25 August 2010, the un-audited Net Asset Values | |||||
| per Ordinary Share and ZDP Shares of the above investment trust company were:- | |||||
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| Share Class | NAV (p) | Increase / (Decrease) | Absolute movement |
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| (inc. undistributed revenue) | % | (p) |
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| Ordinary Shares | 158.51 | (1.76) | (2.84) |
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| Ordinary Shares (dilutive)* | n/a | n/a | n/a | ||
| ZDP Shares | 107.54 | 0.13 | 0.14 |
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| \* 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 172p, being the exercise price for the period 1 June 2010 to 31 May 2011 (both dates inclusive) and that the 6% Convertible Unsecured Loan Stock has been converted at the conversion price of 172.6445p. | |||||
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| Fund Values (rounded) | £ '000 | £ '000 |
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| Total Assets (less cash at bank) |
| 518,477 |
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| Cash at Bank |
| 3,951 |
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| Total Assets |
| 522,428 |
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| Borrowings: |
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| Prime Brokerage | 44,491 |
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| 6% CULS 2016 | 79,998 |
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| ZDP Shares | 64,522 |
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| 189,011 |
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| Net Assets (Ordinary Shareholders Funds) |
| 333,417 |
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| Gearing (net debt/net assets) |
| 55.5% |
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| NB: The assets of the company include approximately £49.6m in bonds, and put options representing | |||||
| approximately £9.5m on a delta adjusted basis. Adjusted for these two components, the total equity | |||||
| exposure of the Company is 137.78% of net assets. | |||||
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| Phoenix Administration Services Limited |
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| Company Secretary |
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