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RenShares Utilities Limited Announces 21 July 2009 Share Repurchase Results
Hamilton, Bermuda: July 23, 2009 - In an announcement made to the Bermuda Stock Exchange (BSX) The Directors of RenShares Utilities Limited wish to announce that the Company executed a buyback for US$30,000,000 on 21 July 2009.
The buyback was executed at a price of US$1.36 per share which represents a 10% discount to the NAV per share as of 20 July 2009 which was US$1.51 per share.
All in all 76,764,584 shares tendered out of total shares outstanding of 107,902,809 or 71%. Therefore pro-rata scaling back in clients' orders came to 28.7%.