UIL Ltd.

Director's Dealing • Jun 10, 2020

National Storage Mechanism | Additional information

RNS Number : 5601P

UIL Limited

10 June 2020

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Duncan Saville

2

Reason for the notification

a)

Position/status

Director of ICM Limited ("ICM"), Joint Portfolio Manager of UIL Limited

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

UIL LIMITED

b)

LEI

213800CTZ7TEIE7YM468

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10p each

BMG917071026

b)

Nature of the transaction

Sale of shares by Mr Saville to Union Mutual Pension Fund Limited ("UMPFL").  The ultimate parent undertaking of UMPFL is Somers Isles Private Trust Company Limited ("SIPTCL") as trustee of the HH Stephens No.1 Trust. Mr Saville is the owner of SIPTCL and sole beneficiary of the HH Stephens No.1 Trust.

Mr Saville's aggregate interest in UIL's ordinary shares is unchanged as a result of this transaction and comprises the following holdings:

Holder	Shares	%
General Provincial Life Pension Fund Limited	54,851,533	63.83
Union Mutual Pension Fund Limited	4,229,538	4.92
General Provincial Company Limited	3,150,000	3.67
The Saville Foundation*	93,750	0.11
Azure Limited (non beneficial)	11,000	0.01

* As Trustee

Under existing agreements, the following shares are pledged and/or loaned: General Provincial Life Pension Fund Limited ("GPLPFL") has lent 9,325,003 ordinary shares of the Issuer to Custodial Capital Management Limited ("CCML") which have been pledged under a security interest agreement related to a loan facility agreement with The Royal Bank of Scotland International. GPLPFL has lent 3,800,000 ordinary shares of the Issuer to Alliance Life Common Fund Limited ("ALCFL") which have been pledged under a loan facility agreement with Bermuda Commercial Bank Limited. GPLPFL has lent 1,750,000 ordinary shares of the Issuer to Permanent Mutual Limited ("PML") which have been pledged under a security interest agreement related to a loan facility agreement with The Royal Bank of Scotland International. GPLPFL has lent 300,000 ordinary shares of the Issuer to a third party which have been pledged under a loan facility agreement with Bermuda Commercial Bank Limited. UMPFL has lent 3,637,477 ordinary shares of the Issuer to PML which have been pledged under a security interest agreement related to a loan facility agreement with The Royal Bank of Scotland International. The ultimate parent undertaking of GPLPFL, CCML, ALCFL and PML is SIPTCL as trustee of various trusts of which Mr Saville is the beneficiary. Mr Saville is the owner of SIPTCL.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
150p	592,061

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2020

f)

Place of the transaction

Off Market

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