Premier Energy & Water becomes Premier Global Infrastructure – The Board of Premier Energy and Water Trust PLC has announced that the name of the company has changed to Premier Global Infrastructure Trust PLC in order to reflect a change of investment emphasis within the portfolio. The name change has been registered at Companies House today and is effective immediately. The change will be reflected on the London Stock Exchange and trading in the ordinary shares will commence under the new trading instrument display mnemonic, “PGIT”, from 8.00 a.m. on 2 November 2017.
Simultaneously the name of the subsidiary, PEWT Securities 2020 PLC, has been changed to PGIT Securities 2020 PLC and trading in its zero dividend preference shares of 1 pence each will commence under the new trading instrument display mnemonic, “PGIZ”, from 8.00 a.m. on 2 November 2017.
The investment objectives, which remain unchanged, are to achieve a high income from and to realise long term growth in the capital value of its portfolio through investing principally in equity and equity related securities of companies operating primarily in the energy and water sectors as well as other infrastructure investments.
The company’s energy and water investments represent a key infrastructure segment. The change of emphasis will involve an increase in exposure to non-utility infrastructure such as ports, toll roads and telecoms infrastructures. Furthermore the UK content of the portfolio has over the last three years fallen from over 15% to under 10% and is expected to remain a relatively small part of the portfolio. The Board therefore consider the change of name to Premier Global Infrastructure Trust PLC will better reflect the positioning of the portfolio within its broader investment mandate which remains unchanged. The Directors are satisfied that the intended portfolio changes will not diminish the Company’s ability to maintain and grow the dividend over the longer term.
No new share certificates are being issued in respect of existing ordinary shares of the Company or zero dividend preference shares of PEWT Securities 2020 plc held in certificated form. Shareholders should retain their existing share certificates which will continue to be valid.
PEW / PGIT : Premier Energy & Water becomes Premier Global Infrastructure