18th Sep 2025 19:32
Premier Miton Global Renewables Trust PLC - Leeds, England-based investor focused on renewables - Enters into non-binding heads of terms on a scheme of reconstruction with alternative investment fund manager Premier Portfolio Managers Ltd. Under the scheme, shareholders may either roll over their investment in the company into sterling class B income shares in Premier Miton Global Infrastructure Income Fund, a sub-fund of Premier Miton Investment Funds 3, and/or receive an uncapped cash exit, both at net asset value, subject to agreed adjustments for costs not already reflected in the NAV. The rollover option will be the default. Infrastructure-asset investor GIIF has "generated stronger performance than the company over a one, three and five-year basis and offers a historic dividend yield of 4.11% as at July 31, the daily liquidity of an open-ended fund and lower ongoing costs," the firm says. PPM has agreed to contribute towards the costs of the scheme.
This follows the announcement in its interim results at June 30 that "barring a major change in circumstances", the board would bring forward proposals to wind up the company.
Current share price: 104.03 pence, closed up 1.0% on Thursday in London
12-month change: down 3.2%
By Aidan Lane, Alliance News reporter
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