PREMIER MITON GLOBAL RENEWABLES TRUST PLC

AGM Information • Oct 9, 2020

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author: Murray, Marco (Link Asset Services)
date: 2020-10-09 15:05:00+00:00

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Company Number: 04897881

THE COMPANIES ACT 2006

PUBLIC COMPANY LIMITED BY SHARES

NOTICE OF RESOLUTIONS OF

PREMIER GLOBAL INFRASTRUCTURE TRUST PLC

(the “Company”)

PASSED ON 9 OCTOBER 2020

At the General Meeting of the Company duly convened and held on 9 October 2020 at the offices of Premier Fund Managers Limited, Eastgate Court, High Street, Guildford, Surrey, GU1 3DE, the following Resolution was duly passed: -

ORDINARY RESOLUTION

That, conditional on the passing of the resolution proposed at a class meeting of holders of zero dividend preference shares in the capital of PGIT Securities 2020 PLC convened for 9 October 2020 (or any adjournment thereof), the investment policy of the Company, as well as the means by which the Company shall achieve its investment objective, be amended and restated with effect from the date of this resolution to read as follows:

“Investment objective
The investment objectives of the Company are to achieve a high income from, and to realise long-term growth in the capital value of its portfolio. The Company seeks to achieve these objectives by investing principally in equity and equity related securities of companies operating primarily in the renewable energy sector, as well as other sustainable infrastructure investments.

Investment policy
The investment policy of the Company is that, in normal market conditions, the portfolio of the Company should consist primarily of a diversified portfolio of equity and equity-related securities of companies operating in the renewable energy sector, as well as other sustainable infrastructure investments. There are no restrictions on the proportion of the portfolio of the Company which may be invested in any one geographical area or asset class but no more than 15 per cent. of the Company’s assets, at the time of acquisition, will be invested in securities issued by any investee company. The Company may also invest up to 15 per cent. of its gross assets in investment companies provided they themselves invest in renewable energy and other sustainable infrastructure. However, not more than 10 per cent. of the Company’s gross assets may be invested in other UK listed closed-ended investment funds unless such funds themselves have published investment policies to invest not more
than 15 per cent. of their total assets in other UK listed closed-ended investment funds (provided they themselves invest in renewable energy and other sustainable infrastructure). The Company may invest up to 15 per cent. of its gross assets in unquoted securities. There are no borrowings under financial instruments or the equivalent of financial instruments but
investors should be aware of the gearing effect of ZDP shares within the Group’s capital structure. The Company’s policy is not to employ any gearing through long-term bank borrowing. The Group can, however, employ gearing through the issue of ZDP shares by a subsidiary of the Company. The Group is not subject to a maximum level of such gearing save that the number of new ZDP shares that may be issued is limited by the applicable cover test in respect of those ZDP shares.

The Company will manage and invest its assets in accordance with its published investment policy. Any material change to this policy will only be made with the approval of Ordinary Shareholders by ordinary resolution and the prior sanction of a special resolution of ZDP shareholders, unless otherwise permitted by the Listing Rules.”