UIL Limited Portfolio update – Zeta Resources Limited
08 Ottobre 2024 - 8:00AM
RNS Regulatory News
RNS Number : 2610H
UIL Limited
08 October 2024
8
October 2024
UIL
LIMITED
(LEI
Number: 213800CTZ7TEIE7YM468)
Portfolio update - Zeta Resources Limited
The Board of UIL Limited ("UIL") is
pleased to report a significant transaction within the portfolio of
its investee subsidiary company Zeta Resources Limited
("Zeta").
Zeta announced earlier today that it
expects to receive approximately USD 41 million from Koumbia
Bauxite Investments Ltd ("KBI"), an unlisted Bermuda based company
in which Zeta is a 41.3% shareholder and is Zeta's largest
investment. KBI has agreed to terminate its commercialisation
deed with Alliance Mining Commodities Ltd ("AMC"), the 90% owner of
the Koumbia bauxite project located in Guinea, in exchange for a
cash payment of USD 100 million from the 100% owner of AMC.
The payment from KBI is expected to be received by Zeta within one
week and is in line with Zeta's carrying value of KBI as at 30
September 2024.
KBI represents approximately 8% of
UIL's investment portfolio as at 30 September 2024 on a look
through basis.
Name of contact and telephone number
for enquiries:
Charles Jillings
ICM Investment Management
Limited
Telephone: 01372 271486
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