8 Oct 2013 17:35
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ECOFIN WATER & POWER OPPORTUNITIES PLC | ||||||
NET ASSETS VALUE ANNOUNCEMENT - REPLACEMENT
This announcement replaces announcement 7649P released at 12:06 on 4 October 2013 which showed incorrect values throughout because the total assets figure used in the calculation was incorrect.
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It is announced that at the close of business on 30 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 | 169.51 | 172.36 | (1.56) | (2.72) | ||
Ordinary Shares (dilutive)* | n/a | n/a | n/a | n/a | ||
ZDP Shares | 131.99 | 131.99 | 0.18 | 0.24 | ||
\* 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) | 509,995 | |||||
Cash at Bank | 36,640 | |||||
Total Assets | 546,635 | |||||
Borrowings: | ||||||
Prime Brokerage | 26,412 | |||||
6% CULS 2016 | 79,410 | |||||
ZDP Shares | 79,195 | |||||
185,017 | ||||||
Net Assets (Ordinary Shareholders Funds) | 361,618 | |||||
Gearing (net debt/net assets) * | 41.0% | |||||
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 £29.6m in bonds. Adjusted for this, the total equity exposure of the Company is 132.8% of net assets. | ||||||
Phoenix Administration Services Limited | Corporate Secretary | |||||