7 Aug 2009 11:57
ECOFIN WATER & POWER OPPORTUNITIES PLC | |||||
It is announced that at the close of business on 31 July 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 | 170.73 | 0.86 | 1.45 | ||
Ordinary Shares (dilutive)* | 170.27 | 0.72 | 1.21 | ||
ZDP Shares | 100.04 | 0.04 | 0.04 | ||
\* The Company's Subscription Shares and 6% Convertible Unsecured Loan Stock 2016 in issue may, | |||||
but will not necessarily, 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) | 469,385 | ||||
|
| ||||
Cash at Bank | 140,692 | ||||
|
| ||||
Total Assets | 610,077 | ||||
|
| ||||
Borrowings: |
| ||||
Prime Brokerage | 110,976 |
| |||
6% CULS 2016 | 80,000 |
| |||
ZDP Shares | 60,022 |
| |||
| 250,999 | ||||
|
| ||||
Net Assets (Ordinary Shareholders Funds) |
| 359,078 | |||
Gearing (net debt/net assets) |
| 30.70% | |||
NB: The assets of the company include approximately £31.5m in bonds, and put options representing | |||||
approximately £6.6m on a delta adjusted basis. Adjusted for these two components, the total equity | |||||
exposure of the Company is 130.71% of net assets. | |||||
Phoenix Administration Services Limited | |||||
Company Secretary |