Electra Private Equity’s new wholly-owned subsidiary, Electra Private Equity Investments, has undertaken an institutional cash placing through the issue of zero dividend preference shar
Electra Private Equity’s new wholly-owned subsidiary, Electra Private Equity Investments, has undertaken an institutional cash placing through the issue of zero dividend preference shares.
The pathfinder prospectus in connection with the placing was published on 22 July 2009 and the final prospectus has been published by the company today.
Forty three million zero dividend preference shares have been placed with institutions at a placing price of 100 pence per share. The placing has now closed in accordance with its terms.
The shares are expected to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s Main Market at 8am on 5 August 2009.
The zero dividend preference shares will have an initial capital entitlement of 96.26 pence and will be entitled to a final capital entitlement of 155.41 pence on 5 August 2016. Receipt of the final capital entitlement of 155.41 pence on 5 August 2016 would equate to a redemption yield of 6.5 per cent per annum based on the placing price.
