About UsUtilico Emerging Markets Limited is an exempt, closed-end Bermuda incorporated investment company, with an investing objective to provide long-term capital appreciation by investing predominantly in infrastructure, utility and related companies in Emerging Markets. The Company’s investing policy is flexible and permits it to make investments in existing infrastructure and related sectors, including (but not limited to) water and sewerage companies, electricity, gas, telecommunications, ports, airports, service companies, rail, roads, any business with essential service or monopolistic characteristics and in any new infrastructure asset which may arise. The Company may also invest in businesses which supply services to, or otherwise support, the infrastructure and related sectors. The Company focuses on the undeveloped and developing markets of Asia, Latin America, Emerging Europe and Africa but will have the flexibility to invest in markets world-wide. The Company will seek to invest in Emerging Market countries where the Directors believe that there are attributes such as political stability, economic development, confidence in the legal framework and a positive attitude to foreign investment. The Company has the flexibility to invest in shares, bonds, convertibles and other types of securities, including non-investment grade bonds where suitable opportunities arise. The Company will also have the flexibility to invest in unlisted securities. The Company may use derivative instruments such as financial futures, options and warrants. The Company may from time to time hedge into sterling, foreign currency exposures of the investment portfolio, particularly where future foreign currency receipts are expected. The Company may also, where appropriate, hedge general foreign currency exposures on a longer term basis. It is the intention of the Company, subject to market conditions, to be substantially fully invested all times, although the Investment Manager may use its discretion to hold cash or cash equivalent investments (in any country) from time to time. The Investment Manager will not, without Board approval: (a) invest in securities carrying unlimited liability; or (b) buy or sell commodities or commodity contracts although it may purchase and sell securities which are secured by commodities and securities of companies which invest in or deal in commodities; or (c) invest or lend more than 20 per cent. of its assets in securities of any one company or single issuer. None of these restrictions will, however, require the realisation of any assets of the Company where any restriction is breached as a result of an event outside of the control of the Investment Manager which occurs after the investment is made, but no further relevant assets may be acquired or loans made by the Company until the relevant restriction can again be complied with The Company may, from time to time, use bank borrowings for short-term liquidity purposes and, if the Directors deem prudent, for longer term purposes. The Directors intend to restrict bank borrowings on a longer term basis to 25 per cent. of Gross Assets. Ingot Capital Management Pty Limited is the Company's investment manager. Administration and secretarial services are provided by F&C Management Ltd. The Company’s capital structure is comprised of Ordinary shares and Warrants and a distinct C Share pool with associated Subscription Shares. The Company's Shares and Warrants are listed on the London Stock Exchange AIM market, the Bermuda Stock Exchange and the Channel Islands Stock Exchange. The Company publishes the Net Asset Value (NAV) for its ordinary shares via the Regulatory News Service (RNS) of the London Stock Exchange. The news section of this website contains an archive of RNS announcements relating to the Company. Delayed Pricing of the Company’s LSE listed securities are available in the prices section of this website and from various other sources online. Closing mid prices are also published daily in the Financial Times and in the Daily Telegraph. The Company is registered in Bermuda (Company registration number: 36941). Shareholders should note that the rights of shareholders may be different from the rights of shareholders in a UK incorporated company. In particular, it should be noted that the provisions of the Takeover Code do not apply to Bermuda registered companies. The Company does not have a main country of operation, since it is a global investment company and the weighting of investments will be subject to changes. A summary of the geographic weightings of investments is contained in the monthly factsheet. Readers will note that this website contains certain information which is disclosed for the purposes of AIM Rule 26.
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