REG - Utilico Emerging Mkt - Publication of Circular and Notice of GM

Utilico Emerging Markets TrustAnnouncement

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RNS Number : 5231V  Utilico Emerging Markets Trust PLC  15 August 2025

15 August 2025

UTILICO EMERGING MARKETS TRUST PLC

(LEI Number: 2138005TJMCWR2394O39)

 

Publication of Circular and Notice of General Meeting

 

On 7 August 2025 the Board of Utilico Emerging Markets Trust plc ("UEM" or the
"Company") announced a comprehensive suite of initiatives to be adopted by UEM
which seek to increase demand for its shares and enhance the rating of the
Company's shares over time. The proposed initiatives are:

 

·   New conditional tender offer structure: a new performance-related
tender offer benchmarked against the MSCI Emerging Markets Total Return Index
("Benchmark") and measured over a five-year period to 31 March 2030, for up to
25% of the Company's issued share capital, equivalent to £126 million of the
Company's NAV at 31 July 2025;

·   Share buyback commitment: the Board intends to continue using its
buyback programme to seek to address the discount to NAV at which the
Company's shares may trade from time to time, with the ambition of maintaining
a single digit discount in normal market conditions on a sustainable basis. In
the three financial years ended 31 March 2025 the Company has repurchased 28.2
million shares for £62.2 million;

·   Progressive dividend policy: a continuation of the commitment to
increase the total annual dividend, paid quarterly. Having increased the
dividend year on year since 2016, the Company paid an annual dividend of 9.125
pence per share for the year ended 31 March 2025, equating to a distribution
of £17.0 million. The Company is targeting future annual rises; and

·  Advancement of the 2026 continuation vote: it is proposed that the
planned 2026 continuation vote be brought forward to be held on the date of
the 2025 AGM and at subsequent five-yearly intervals thereafter, subject to
shareholder approval of the necessary resolutions at the General Meeting.

 

The Company is today publishing a Circular which contains notice of the
General Meeting to be held at The Royal Society of Chemistry, Burlington
House, Piccadilly, London W1J 0BA on Tuesday, 16 September 2025 at 10.45 a.m.
(or as soon thereafter following the conclusion or adjournment of the 2025
AGM).  At the General Meeting, shareholders' approval will be sought for the
proposed amendment to the existing articles to enable the advancement of the
2026 continuation vote. Subject to the passing of this resolution,
shareholders will also be asked at the General Meeting to approve the
continuation of the Company as presently constituted.

 

A copy of the Circular will shortly be made available on the Company's website
at www.uemtrust.co.uk
(https://url.avanan.click/v2/r02/___http:/www.uemtrust.co.uk___.YXAxZTpzaG9yZWNhcDphOm86ODdjMjE0NzcyYTcxM2UyY2IzNGM3NzEwZmZhMjliYmE6NzoyMjQzOmY5YzgwZjVmNmQ5Nzk0MmFkODdhNWQ2MThiNDkxZWJmZmVmODA3OGVkYTU0ZDBhNmE5ZDZkMzliMzdjNzIzM2E6cDpUOk4)
.

 

 

Name of contact and telephone number for enquiries

 

 Joint Portfolio Manager and Company Secretary
 ICM Investment Management Limited                                    +44 (0)1372 271486
 Charles Jillings / Jacqueline Broers / Alastair Moreton

 Public Relations
 Montfort Communications                                              +44 (0)7798 626282
 Gay Collins / Alex Everett
 utilico@montfort.london (mailto:utilico@montfort.london)

 Joint Brokers
 Shore Capital                                                        +44 (0)20 7408 4050
 Gillian Martin / Daphne Zhang / Matthew Walton - Corporate Advisory

 Fiona Conroy - Corporate Broking

 Barclays Bank PLC                                                    +44 (0)20 7623 2323
 Dion Di Miceli / Stuart Muress / James Atkinson

 

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