Partial Exit from Investment (1137A)
27 3월 2012 - 3:00PM
UK Regulatory
TIDMH2O
RNS Number : 1137A
Aqua Resources Fund Limited
26 March 2012
Aqua Resources Fund Limited
26 March 2012
AQUA ANNOUNCES ITS PARTIAL EXIT FROM INVESTMENTS IN BLUEWATER
BIO INTERNATIONAL
26 March 2012: Aqua Resources Fund Limited ("Aqua"), the
Authorised Closed-ended investment scheme managed by FourWinds
Capital Management ("FWCM") and established to invest in global
water opportunities, announces today that one of its investee
companies, Bluewater Bio International ("BBI"), the global
specialist in wastewater treatment, has raised additional growth
capital investment in a financing round led by Ombu Group and
Hermes GPE Environmental Innovation Fund LP.The transaction
includes the recapitalisation of BBI by way of a subscription by
the new investors for a new class of A Preferred Shares in the
capital of BBI, and partial repayment of certain debt held by Aqua
and other debt holders in BBI.
As part of the transaction, Aqua has received a total cash
amount of GBP912,147 by way of partial redemption/repayment of its
outstanding secured loans to BBI, the balance of which has been
converted into two new classes of shares as follows:
(i) GBP283,011 into a new class of B Preferred Shares, ranking
pari passu with the A Preferred Shares (save that they are
redeemable at any time at the discretion of the board of directors
of BBI);
(ii) GBP2,117,984 into a new class of C Preferred Shares,
ranking behind the A and B Preferred Shares.
Aqua retains an ordinary equity interest in BBI, acquired in a
number of tranches during 2009, which now represents 12.12% of the
issued voting capital of BBI (reduced from approximately 17% which
it held immediately prior to this financing round) and ranks behind
the preferred and other classes of share in the capital of BBI.
Aqua also holds warrants in BBI giving it the right to subscribe
for additional ordinary shares.
As part of the transaction, Kimberly Tara, CEO of FWCM, has
resigned as a director of BBI. Going forward, Aqua will therefore
no longer be represented on the board of directors of BBI.
At 31 December 2011, Aqua had invested approximately 94% of its
net assets. The remaining cash is held conservatively and is
reserved for operations.
Further enquiries:
FourWinds Capital Management, Investment Manager
Kimberly Tara, Chief Executive Officer
Valerie Daoud Henderson, Head of Europe Environment Group
Jui Kian Lim, Head of Asia Environment Group
info@fourwindscm.com
Cenkos Securities plc, Corporate Broker
Will Rogers +44 207397 1920
Dion Di Miceli +44 207397 1921
HSBC Securities Services (Guernsey) Limited, Administrator
Tel: +44 (0) 1481 707 000
CitigateDeweRogerson, PR Advisor
Lindsay Noton +44 207 638 9571
Notes to Editors:
About Aqua Resources Fund Limited
Aqua is a Guernsey-domiciled Authorised Closed-ended investment
scheme pursuant to section 8 of the Protection of Investors
(Bailiwick of Guernsey) Law 1987, as amended and rule 6.02 of the
Authorised closed-ended Investment Schemes Rules 2008.
Aqua's ordinary shares were admitted to listing on the Official
List of the UK Listing Authority and to trading on the main market
for listed securities of the London Stock Exchange plc on 24 July
2008.
Aqua's investment objective is to provide long term capital
appreciation through exposure to a diversified portfolio of
water-related investments. Aqua will invest principally in
businesses that are involved in (i) water treatment and recycling
(i.e. wastewater and recycling, water treatment and purification),
(ii) water infrastructure (i.e. water distribution) or (iii) water
application and conversion (water-to-energy and desalination) with
the objective of capturing the growth opportunities emerging from
the attractive long-term dynamics driving the water industry.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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