REG-Premier Miton Global Renewables Trust Plc: Intention to propose a scheme of reconstruction

Premier Miton Global Renewables TrustAnnouncement

Today 07:02

Premier Miton Global Renewables Trust Plc (the “Company”)

Intention to propose a scheme of reconstruction

As announced in the Company’s half year results for the six months to 30
June 2025, barring a major change in circumstances, the Board of the Company
noted its intention to bring forward proposals to wind up the Company and
distribute its assets to shareholders of the Company (“Shareholders”)
whilst offering a roll over option for those Shareholders who wished to remain
invested in a vehicle with a similar investment strategy. This was against the
backdrop of the intended final capital repayment of the ZDP shares by the
Company’s subsidiary on 28 November 2025 and the resultant smaller size of
the Company, measured by its gross assets, which the Board believes would mean
the Company would be too small to be relevant in the current market due to its
size and the likely effect on demand for the Company’s shares.

The Board has concluded that it is in the best interests of Shareholders to
put forward proposals for a scheme of reconstruction under Section 110 of the
Insolvency Act 1986 and the voluntary winding-up of the Company (the
"Scheme"). The Company has entered into non-binding heads of terms regarding
the Scheme with Premier Portfolio Managers Limited (“PPM”), the
Alternative Investment Fund Manager to the Company and Authorised Corporate
Director of Premier Miton Investment Funds 3.

Pursuant to the Scheme, Shareholders will have the option of electing to (a)
roll over their investment in the Company into Sterling Class B Income Shares
in Premier Miton Global Infrastructure Income Fund (“GIIF”), an FCA
authorised open-ended investment company with assets of approximately £70.6m,
which is a sub fund of Premier Miton Investment Funds 3 (the “Rollover
Option”); and/or (b) receive an uncapped cash exit, in each case at net
asset value, subject to agreed adjustments for the Company’s costs to the
extent not already reflected in the Company’s NAV. The Rollover Option will
be the default option pursuant to the Scheme.

GIIF is a focused global income fund, which invests in companies active in
infrastructure assets. GIIF has generated stronger performance than the
Company over a 1, 3 and 5 year basis and offers a historic dividend yield of
4.11% as at 31 July 2025, the daily liquidity of an open-ended fund and lower
ongoing costs. PPM has agreed to make a contribution towards the costs of the
Scheme.

Further information about GIIF can be found on PPM’s website:
https://www.premiermiton.com/funds/premier-miton-global-infrastructure-income-fund/

It is expected that the Scheme will take effect in early December 2025 and
will be subject to Shareholder approval and HMRC tax clearance. A circular and
notice of general meetings setting out the full details of the Scheme will be
sent to Shareholders in due course.

The City Code on Takeovers and Mergers is not expected to apply to the Scheme.

 


18 September 2025

Legal Entity Identifier: 2138004SR19RBRGX6T68



For further information, please contact:

 Premier Portfolio Managers Limited  Claire Long                             T: +44 (0) 1483 30 60 90  
                                                                                                       
 Cavendish Capital Markets Limited   Tunga Chigovanyika (Corporate Finance)  T: +44 (0) 20 7397 1915   
                                     Justin Zawoda-Martin (Sales)            T: +44 (0) 20 7220 0500   
                                                                                                       

 



Copyright (c) 2025 PR Newswire Association,LLC. All Rights Reserved