Interim Management Statement
08 Maio 2008 - 6:59AM
UK Regulatory
PREMIER ENERGY AND WATER TRUST PLC
(Formerly Premier Utilities Trust PLC)
Interim Management Statement for the Quarter ended 31 March 2008
Investment Objective
The Company seeks to provide its shareholders with a high income and long-term
capital growth and high income through investing in equities and equity related
securities of Companies operating in the utilities and infrastructure sectors.
Up to 15% of the Company's gross assets may be invested in unquoted securities.
Financial Highlights
31 March 2008 31 December % change
2007
Zero Dividend Preference share NAV 134.81p 132.57p +1.7%
Mid price 138.75p 137.50p +0.1%
Ordinary share NAV 223.27p 272.56p -22.1%
Mid price 197.00p 236.00p -19.8%
Total Assets �66.32m �75.38m -12.0%
FTSE Global Utilities (�) 3765.47 4148.52 -10.2%
FTSE Global Telecoms (�) 2383.14 2837.97 -19.1%
FTSE All World (�) 177.55 196.37 -10.6%
FTSE 100 5702.1 5456.9 -13.2%
Material Events and Transactions
Final Results
On 28 February, the preliminary unaudited results for the year ended 31
December 2007 were announced.
Dividends
On 28 February 2008, the Company declared a fourth interim dividend of 2.5p per
Ordinary share for the year ended 31 December 2007 which was paid on 31 March
2008.
On 29 April 2008, the Company declared a first interim dividend of 1.5p per
Ordinary share for the year ending 31 December 2008 which is payable on 30 June
2008 to Ordinary shareholders on the register on 30 May 2008. The Ordinary
shares will be marked ex-dividend on 28 May 2008.
Annual General Meeting
At the Annual General Meeting held on 29 April 2008, all the Ordinary and
Special Resolutions were passed.
In particular, the Special Resolution to change the name of the Company to
Premier Energy and Water Trust plc was passed. Over the last 12 months the
investments in developing markets such as China have been successful and the
Investment Manager has also increased its focus on investments in the energy
and water sectors. Whilst this does not constitute a change in investment
policy, the Board considers this name more closely reflects the key focus of
the Company's investment strategy. The Registrar of Companies has confirmed
that the new name of the Company has been registered and a Certificate of
Incorporation on Change of Name has been received.
LargestHoldings(% of Gross Assets)
E.ON 5.7%
Suez 4.0%
BT Group 3.8%
Enel 3.8%
Centrica 3.8%
RWE 3.7%
Telefonica 3.3%
United Utilities 3.1%
Autostrada Torino-Milano 2.7%
Embarq 2.7%
National Grid 2.6%
Williams Companies 2.5%
FPL Group 2.4%
Elisa Comms 2.4%
FCE Bank 7.125% 16/1/2012 2.3%
The Board is not aware of any significant events or transactions which have
occurred since 31 March 2008 and the date of the publication of this statement
which would have a material impact on the financial position of the Company.
At 30 April 2008 the Zero Dividend Preference share NAV was 135.56p and the
Ordinary share NAV was 236.43p.
Further Information
Daily prices, Company announcements, Report and Accounts and monthly fact
sheets are available via www.premierassetmanagement.co.uk.
8 May 2008
END
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