Sale of Investment in Somers Limited

About this update from Uil Finance Ltd Zero Div Pfd Registered Shs 2018-31.10.26

[{"type":"text","content":"\n\n4 November 2025\nUIL LIMITED\n(LEI Number: 213800CTZ7TEIE7YM468)\nSale of Investment in Somers Limited\nFurther to the announcement dated 27 October 2025, the Board of UIL Limited (\"UIL\") is pleased to confirm that UIL has entered into agreements to sell all of its shares in Somers Limited (\"Somers\"). \n \nUIL has entered into a sale and purchase agreement with General Provincial Life Pension Fund Limited (\"GPLPF\") to sell 1,371,124 Somers shares held by UIL to GPLPF in settlement of the outstanding loan from GPLPF to UIL which currently amounts to £17.1m (including accrued interest).  The valuation of the Somers shares is based on Somers' net asset value (\"NAV\") per share of £12.50 as at 31 October 2025 (£10.72 as at 30 June 2025).  GPLPF currently holds 78.9% of UIL's ordinary shares and is therefore a related party for the purposes of DTR 7.3.\n \nUIL has also entered into a sale, purchase and buyback agreement with Somers whereby Somers will repurchase 7,914,984 Somers shares held by UIL at Somers' NAV per share of £12.50 as at 31 October 2025 for an aggregate consideration of £99.0m, to be settled through the transfer to UIL of the investments listed below at fair value as at 31 October 2025.  The investments selected for transfer have focused primarily on those which are listed.  Somers is currently an associated undertaking of UIL and is therefore a related party for the purposes of DTR 7.3.\n \n\n\n\n\nName/Description\n\n\nSecurities\n\n\nValue\n\n\n\n\nW1M - a £24bn London based specialist investment manager formed in June 2024 through the merger of Waverton and London & Capital\n\n\nOrdinary shares1 and loan notes2\n\n\n£53.8m\n\n\n\n\nResimac Group Limited - an ASX listed A$15bn lender for residential mortgages and asset finance in Australia and New Zealand\n\n\nOrdinary shares3\n\n\n£33.6m\n\n\n\n\nMoneyMe Limited - an ASX listed digital lender and non-bank challenger providing consumer and commercial finance in Australia\n\n\nOrdinary shares3\n\n\n£9.7m\n\n\n\n\nWT Financial Group Limited - an ASX listed diversified financial services company with one of the largest financial adviser networks in Australia\n\n\nOrdinary shares3\n\n\n£1.2m\n\n\n\n\nGumtree Australia Markets Limited - an ASX listed group operating in the digital marketplace sector with the Gumtre...

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