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Utilico Emerging Markets Limited Unaudited Statement of Results for the six months to 30 September 2006
Hamilton, Bermuda: December 04, 2006 --
Highlights of results
* Raised £100m through the issue of C shares
* Fully invested by August
* Recovery in net asset value following sharp sell-off in emerging markets
* Dividend per ordinary share of 2.00p
The Chairman, Mr Alexander Zagoreos, commented, 'The past six months have been
testing times for emerging market investors. However, despite this, I am pleased
to report that UEM has continued to make progress. Initially the NAV per
ordinary share rose from 119.48p at 31 March 2006 to peak at 121.77p on 9 May
2006. The markets then declined sharply and the NAV per ordinary share fell back
to 103.62p on 13 June 2006. Since then the NAV per ordinary share has made
steady progress to end marginally ahead of where it began at 119.74p after
paying a maiden final dividend of 1.50p in June 2006.
In the two months since 30 September 2006 the NAV per share has risen to 126.09p
as at 28 November 2006.'
SUMMARY OF UNAUDITED RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2006
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