UIL Ltd (GB:UTL) has released an update.
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UIL Limited has reported a decrease in net asset value (NAV) total return and share price total return for the year ending June 30, 2024, while maintaining its annual dividend at 8.00p per share. The company intends to go private and cancel its stock exchange listings after redeeming the 2028 ZDP shares, offering minority shareholders an annual exit opportunity at a discount to NAV. UIL has also executed a reduction in net debt, leading to a lower gearing percentage and has plans to consolidate investment vehicles to simplify its structure.
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