26 Mar 2010 13:13
ECOFIN WATER & POWER OPPORTUNITIES PLC |
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It is announced that at the close of business on 24 March 2010, the un-audited Net Asset Values |
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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 | 182.29 | (1.90) | (3.53) |
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Ordinary Shares (dilutive)* | 178.78 | (1.37) | (2.49) | ||
ZDP Shares | 104.51 | 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 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. | |||||
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Fund Values (rounded) | £ '000 | £ '000 |
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Total Assets (less cash at bank) |
| 559,345 |
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Cash at Bank |
| 5,266 |
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Total Assets |
| 564,611 |
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Borrowings: |
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Prime Brokerage | 38,495 |
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6% CULS 2016 | 79,998 |
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ZDP Shares | 62,706 |
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| 181,199 |
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Net Assets (Ordinary Shareholders Funds) |
| 383,412 |
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Gearing (net debt/net assets) |
| 45.9% |
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NB: The assets of the company include approximately £42.7m in bonds, and put options representing | |||||
approximately £4.6m on a delta adjusted basis. Adjusted for these two components, the total equity | |||||
exposure of the Company is 133.55% of net assets. | |||||
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Phoenix Administration Services Limited |
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Company Secretary |
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