13 Sep 2013 14:06
ECOFIN WATER & POWER OPPORTUNITIES PLC | ||||||
It is announced that at the close of business on 11 September 2013, the un-audited Net Asset Values per Ordinary Share and ZDP Shares of the above investment trust company were:- | ||||||
Share Class | NAV (p) | NAV (p) | Increase / (Decrease) | Absolute movement | ||
(exc. undistributed revenue) | (inc. undistributed revenue) | (inc. undistributed revenue) % | (inc. undistributed revenue) pence | |||
Ordinary Shares | 174.50 | 177.15 | 3.77 | 6.43 | ||
Ordinary Shares (dilutive)* | n/a | n/a | n/a | n/a | ||
ZDP Shares | 131.41 | 131.41 | 0.13 | 0.17 | ||
\* The Company's 6% Convertible Unsecured Loan Stock 2016 in issue will not necessarily dilute the Ordinary Shares' Net Asset Value but may do so. Where no dilution of NAV takes place the value boxes on this line will show "not applicable". A diluted NAV assumes that the 6% Convertible Unsecured Loan Stock has been converted at the conversion price of 172.6445p. | ||||||
Fund Values (rounded) | £ '000 | £ '000 | ||||
Total Assets (less cash at bank) | 555,669 | |||||
Cash at Bank | 3,431 | |||||
Total Assets | 559,100 | |||||
Borrowings: | ||||||
Prime Brokerage | 29,258 | |||||
6% CULS 2016 | 79,314 | |||||
ZDP Shares | 78,846 | |||||
187,418 | ||||||
Net Assets (Ordinary Shareholders Funds) | 371,683 | |||||
Gearing (net debt/net assets) * | 49.5% | |||||
Net debt is bank debt, the Convertible Unsecured Loan Stock and the Zero Dividend Preference Shares, less cash at bank | ||||||
Notes: | ||||||
The total assets of the Company include approximately £26m in bonds. Adjusted for this, the total equity exposure of the Company is 142.5% of net assets. | ||||||
Phoenix Administration Services Limited | Corporate Secretary | |||||