Premier Energy & Water published a prospectus on Friday that covers a reconstruction and voluntary winding up of PEWT Securities PLC. PEWT Securities PLC is the company behind Premier Energy & water’s current ZDP issue. These are coming to the end of their life. They are proposing that holders of these zeros be given the chance to choose whether to take their full cash entitlement or rollover some or all of their investment into new ZDPs to be issued by a new subsidiary of Premier Energy & Water, PEWT Securities 2020.
These new zeros would be issued at £1, have a maturity date of 30 November 2020, a gross redemption yield of 4.75%, a final capital entitlement of 125.6519p and a minimum initial cover of 1.45 times.
PEW : Premier Energy & Water plans new ZDP issue