Utilico to redomicile to UK from Bermuda

  • On the move: Utilico Emerging Markets Ltd is listed on the London Stock Exchange. The closed-ended investment company intends to redomicile to the UK from Bermuda

    On the move: Utilico Emerging Markets Ltd is listed on the London Stock Exchange. The closed-ended investment company intends to redomicile to the UK from Bermuda


Utilico Emerging Markets Limited, a closed-ended investment company, is to redomicile to the United Kingdom from Bermuda.

In a statement, the company said the proposed move was in its “best interests” but did not elaborate.

The news follows an announcement in November when the company, which has investments in infrastructure, utility and related sectors, said it was considering options for a possible change in its domicile.

The company is listed on the London Stock Exchange, and has a market capitalisation of £461 million ($642 million), with assets of £570 million ($788 million).

In today’s statement the company said: “Following a review, the board has concluded that it would be in the company’s best interests to redomicile to the United Kingdom.”

The proposed change will be conditional to the approval of shareholders and being sanctioned by the Supreme Court of Bermuda. The redomicilation is to be effected under the Companies Act 1981 of Bermuda.

The move will result in the creation of a closed-ended investment trust in the UK, which will be known as Utilico Emerging Markets Trust plc.

The company’s statement said the board will not be proposing any changes to the investment management arrangements as a result of the redomicile and, “other than JP Morgan Chase Bank NA, London Branch who will act as administrator, it is planned that the principal service providers to Utilico Emerging Markets Trust plc will remain the same”.

You must be registered or signed-in to post comment or to vote.

Published Feb 14, 2018 at 10:40 am (Updated Feb 14, 2018 at 10:40 am)

Utilico to redomicile to UK from Bermuda

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "What do you see as best for the future of Bermuda's energy?"
    • Belco Plan
    • 13%
    • Bermuda Better Energy Plan
    • 68%
    • Other
    • 19%
    • Total Votes: 2308
    • Poll Archive

    Today's Obituaries

    eMoo Posts