UTL UIL

Edison issues report on UIL (UTL)

Edison Investment Research Limited
Edison issues report on UIL (UTL)

09-Oct-2024 / 13:00 GMT/BST
The issuer is solely responsible for the content of this announcement.

 

London, UK, 9 October 2024

 

Edison issues report on UIL (UTL)

Edison issues report on UIL (LSE: UTL)

On 8 October 2024, UIL Limited (UIL) announced plans to take the company private after the redemption of the 2028 zero dividend preference (ZDP) shares. UIL’s board has decided that despite holding a selection of potentially exciting investments, recent disappointing performance has meant that the company no longer has the scale to build up a sufficiently diversified portfolio. Also, given that UIL has a limited free float, there is not enough liquidity in its ordinary shares, and its broad investment mandate is out of favour with investors. Therefore, the company will be taken private and its stock exchange listings cancelled following the redemption of the October 2028 ZDP shares. In the absence of unforeseen circumstances, the annual dividend of 8.0p per share will continue to be paid while UIL remains a listed company.

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