Ecofin Water & Power Opps PLC Redemption of CULS (9240E)
July 21 2016 - 12:00PM
UK Regulatory
TIDMECWO
RNS Number : 9240E
Ecofin Water & Power Opps PLC
21 July 2016
ECOFIN WATER & POWER OPPORTUNITIES PLC (the "Company")
Redemption of the Company's 6% Convertible Unsecured
Subordinated Loan Stock 2016 ("CULS")
The Trust Deed constituting the CULS, dated 29 July, 2009,
provides for conversion of the CULS into Ordinary Shares. The final
conversion date for the CULS was 31 May, 2016.
Under the Trust Deed, the Trustee has the right to convert any
remaining CULS outstanding during the period of ten days before the
date of final redemption of the CULS. In light of the current share
price, it is not anticipated that the Trustee will exercise this
right.
Accordingly, all outstanding CULS will be redeemed by the
Company on 31 July, 2016. The CULS will be redeemed at their
nominal amount, together with interest accrued up to (but
excluding) the date of final repayment of the CULS being 1 August,
2016 and these payments will be made on Monday, 1 August, 2016 to
CULS holders on the register on 22 July, 2016. The final interest
payment will be 1.0164 pence per CULS.
In light of the upcoming redemption of the CULS, the Company
will apply for the CULS to be cancelled on 19 August 2016.
BNP Paribas Secretarial Services Limited
Company Secretary
Tel: 020 7410 5971
21 JULY, 2016
This information is provided by RNS
The company news service from the London Stock Exchange
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