Utilico Investments Limited Portfolio holding in Touchcorp Limited update (8512I)
30 Marzo 2015 - 4:28AM
UK Regulatory
TIDMUTL TIDMUTLD TIDMTTM TIDMUTLC TIDMTTM
RNS Number : 8512I
Utilico Investments Limited
30 March 2015
For immediate release
30 March 2015
UTILICO INVESTMENTS LIMITED
Portfolio holding in Touchcorp Limited
Further to the announcement on 12 March 2015 in relation to
Utilico Investments Limited's ("Utilico") shareholding in Touchcorp
Limited ("Touchcorp"), Utilico is pleased to advise that Touchcorp
shares will commence trading on the Australian Stock Exchange
("ASX") on Tuesday 31 March, following its IPO.
Touchcorp provides mobile payment applications, interactive
voice recognition systems, self-service kiosks, ATMs, electronic
cash register systems, and terminal payment systems to allow access
to its customers' services or the purchase of their products at
retail premises and via the internet.
Under the IPO, Utilico and Vix Investments ( "Vix") sold a
proportion of their holdings at $1.40 per share and Vix has
distributed its remaining interest in Touchcorp to its two parent
company shareholders. Following this Utilico will receive cash of
A$11.7m and hold a direct investment of 24.0m shares (representing
20.7% of the issued capital of Touchcorp). This remaining holding
is subject to restrictions on disposal (except in certain customary
limited circumstances) until after the publication by Touchcorp of
its preliminary final report for the financial year ending 31
December 2015. As noted in the previous announcement, at the IPO
price of A$1.40, Utilico's net asset value will increase by
approximately 8 pence per share and post the IPO, Utilico's holding
of Touchcorp shares will be valued at fair value using market bid
prices in accordance with Utilico's accounting policies.
Charles Jillings,
Director ICM Limited
Investment Manager
Telephone 01372 271486
This information is provided by RNS
The company news service from the London Stock Exchange
END
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