Utilico Global Income IPO - Now Open

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The Utilico Global Income IPO

19th June 2018

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM)

Utilico Global Income IPO - Offer Overview

  • Intermediary Offer: UTILICO GLOBAL INCOME PLC
  • Starting NAV (estimated) 98p minimum
  • Seeking to pay an intial dividend yield of 5%
  • UGI is a new actively managed income investment trust. Its aim is to provide long-term total returns through rising regular quarterly dividend payments and capital growth from a diversified global portfolio of equity and corporate bonds

Expected Timetable

  • Offer Open

    21st May 2018

  • Books Close:

    18th June 2018 at 11am

  • Allocation announced:

    19th June 2018

  • Trading begins:

    22nd June 2018


Highlights
  • UGI’s investment objective is to provide long-term total returns of 7.5% to 10.0% through rising regular quarterly dividend payments and capital growth. UGI is targeting an initial dividend yield of at least 5.0% for the year ending September 2019, paid quarterly, derived from the underlying portfolio
  • The portfolio will aim to provide investors with attractive rising quarterly dividend payments, the prospects of income and capital growth and above average returns with below average volatility
  • The portfolio emphasis will be on the infrastructure and utility sectors in both developed and emerging markets
  • The investments will be made in companies with attractive risk/ return profiles that also offer above average income through either dividend or coupon payments and with a focus on capital preservation. This return profile is underpinned by companies that have strong cash flow generation, experienced management teams and strong corporate governance
  • UGI will draw on the experience of its investment managers, ICM Limited and ICM Investment Management Limited (“ICMIM”) whose combined investment team has extensive expertise and collectively has over 100 years’ investment experience. The investment managers currently manage over £14.5bn of assets, directly and indirectly in a range of mandates
  • UGI intends to deploy the net proceeds within three months of Initial Admission

Risks*
  • The price of the Company's shares and the income from the shares can fall as well as rise
  • The Company is a newly formed company with no operating history
  • There can be no guarantee that the Company will achieve its investment objective or that investors will get back the full value of their investment
  • The target total shareholder return is based on estimates and assumptions and any actual return may be lower or negative

*Please note that these risks represent the judgement of Cornhill Capital, there may be additional risks represented in the prospectus


Offer Documents

Important information

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Investments in pre-IPO’s and IPO’s involve a high degree of risk and are not suitable for all investors. A pre-IPO issue is the funding given to the company before listing. There is no guarantee that the company will list, but if it does then there is normally an increase from the pre-IPO to the IPO price, representing a profit. However, even when a company is listed on, say,  the AIM market, it is considered to be a high-risk investment, and will have wider spreads on price and be more illiquid and it may be difficult to sell the shares on a short-term basis and in some circumstances it may be difficult to sell at any price. All investments made into an IPO or new issue or in a secondary issue should always be made solely on the basis of the information provided in the relevant prospectus and any other supplementary documentation. The specific risks will be detailed in the prospectus but the value of your investment can go down as well as up and you may not get back the money you invested.  You should be sure that you fully understand the purpose of, and the reason for, the fundraising. Before you decide to invest you should obtain information regarding the business plan and note the risk factors. If you have any doubts about the suitability of an investment you should seek professional advice.

This announcement has been published by Cornhill Capital Limited.

This is an advertisement and does not constitute a prospectus in connection with an offering of securities of Utilico Global Income plc (the "Company"). Investors must neither accept any offer for, nor acquire, any securities to which this refers, unless they do so on the basis of the information contained in the applicable prospectus published by the Company which can be obtained from www.ugiplc.co.uk and the Company's registered office. The subscription or purchase of ordinary shares of the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Persons distributing this communication must satisfy themselves that it is lawful to do so. None of the Company, Stockdale Securities Limited, Investec Bank plc, ICM Investment Management Limited or ICM Limited assumes any responsibility in the event there is a violation by any person of such restrictions.

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