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RenShares Utilities Limited - Share Repurchase Update
Hamilton, Bermuda - 24 September, 2009 - In an announcement made to the Bermuda Stock Exchange (BSX) the Directors of RenShares Utilities Limited (the "Company") wish to announce that the Company executed a buyback for US$30,000,000 on 21 September 2009.
The buyback was executed at a price of US$1.636131 per share which represents a 10% discount to the NAV per share as of 21 August 2009 which was US$1.817923 per share.
54,055,453 shares tendered out of total shares outstanding of 63,890,139.00 or 84.6%. Therefore pro-rata scaling back in clients' orders came to almost 34%.
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