UEM relocating to the UK – Having announced on 21 November 2017 that it was considering options for a possible change in its domicile from Bermuda to the UK, the Board of Utilico Emerging Markets Limited (UEM) has decided that it would be in the Company’s best interests to re-domicile the Company to the United Kingdom. It is intended that the proposed re-domiciliation will be effected by way of a scheme of arrangement under section 99 of the Companies Act 1981 of Bermuda (the “Scheme”) under which ordinary shareholders will exchange all their ordinary shares, on a one for one basis, for ordinary shares in Utilico Emerging Markets Trust plc, a newly incorporated closed ended investment trust established in the United Kingdom.
The proposed change of domicile will be conditional, inter alia, on the approval of the Company’s ordinary shareholders and the Scheme being sanctioned by the Supreme Court of Bermuda.
The Board will not be proposing any changes to the investment management arrangements as a result of the re-domicile 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.
UEM : UEM relocating to the UK