UTL Uil Limited

TIDMUTLH TIDMUTL TIDMTTM TIDMUTLG

RNS Number : 0983G

UIL Finance Limited

01 November 2018

1 November 2018

UIL FINANCE LIMITED

(LEI Number: 213800JPJWZ5P3QJX538)

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

2018 and 2026 ZDP Shares Update

2018 ZDP Shares

UIL Finance Limited ("UIL Finance" or the "Company") is pleased to announce that, further to the announcement on 3 October 2018, redemption proceeds have been paid to holders of the Company's zero dividend preference shares which were due for redemption on 31 October 2018 ("2018 ZDP Shares").

2026 ZDP Shares

UIL currently holds 13,420,535 zero dividend preference shares due for redemption on 31 October 2026 ("2026 ZDP Shares"). UIL intends to continue to sell these shares in the market, subject to demand and market conditions.

Based on the net asset value per share of 297.04p as at 31 October 2018, which takes into account the redemption of the 2018 ZDP Shares and the cancellation of the 20 million 2024 ZDP Shares announced recently, the 2026 ZDP Cover has increased to 1.82x. In addition, based on the closing share price of 103.75p as at 31 October 2018, the yield to redemption of the 2026 ZDP Shares is 4.85%.

As a result of the redemption of the 2018 ZDP Shares, UIL and UIL Finance's share capital comprises 89,493,389 Ordinary Shares, 39,000,000 2020 ZDP Shares, 50,000,000 2022 ZDP Shares, 30,000,000 2024 ZDP Shares and 25,000,000 2026 ZDP Shares.

Name of contact and telephone number for enquiries:

   ICM Investment Management Limited                              01372 271486 

Charles Jillings / Alastair Moreton

   Stockdale Securities Limited                                               020 7601 6115 

Robert Finlay / Rose Ramsden

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November 01, 2018 12:07 ET (16:07 GMT)

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