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Ecofin sees record share placement in Ecofin Water & Power Opportunities


Ecofin Limited (Ecofin), the investment manager of Ecofin Water & Power Opportunities plc (EW&PO), a UK investment trust specialising in the global utilities and energy sectors, has announced a successful secondary placement of over 72 million Ordinary Shares in EW&PO – a record placement for the trust and one of the largest in the UK investment trust industry.

The Ordinary Shares were largely purchased by leading managers of UK equity income funds, institutional investors and private client brokers, further diversifying EW&PO’s shareholder base among a high quality group of new and existing institutional and retail-oriented investors. Importantly, Ecofin, its Directors and persons connected to EW&PO were also substantial buyers, purchasing 9,850,000 of Ordinary Shares on April 8, 2011 at a price of 120p per share.
As a result, some 72, 414, 885 Ordinary Shares in EW&PO, equal to 34.4% of the trust’s Ordinary Share capital, were sold and purchased in just under 10 weeks between March 10, 2011 and May 17, 2011 – a significant achievement fully supported in execution by Ecofin and Winterflood Securities, EW&PO’s broker. Smaller amounts of the trust’s Ordinary Shares were also traded during this period. 
Bernard Lambilliotte (pictured), Chief Investment Officer of Ecofin, says: “This share placement represents a significant achievement for EW&PO not only in the volume of shares placed in such a short period of time, but also in further diversifying the trust’s shareholder base among such high quality investors.”     
Invesco Perpetual, principally equity income funds managed by Neil Woodford, and New York-based Cadogan Investments, on behalf of Arbiter Partners, were two of the main sellers of EW&PO Ordinary Shares.  

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