Plato Income Maximiser Limited – ASX:PL8

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Company Overview

Plato Income Maximiser Limited (the ‘Company’, ASX:PL8) offers Australian investors the opportunity to invest in an actively managed, diversified portfolio of Australian shares with an income focus.

PL8 is the first Australian Listed Investment Company targeting to pay monthly dividends, which will appeal to investors who require a dependable income stream from their investment portfolio.

Based on the investment strategy of the Plato Australian Shares Income Fund and launched in response to investor demand for an ASX-listed product that delivers high income, PL8 is designed specifically with SMSF and pension-phase investors in mind.

Share Purchase Plan Booklet for PL8 Shareholders (November 2023)Target Market Determination (TMD)Share Purchase Plan Webinar ReplayShare Purchase Plan Webinar Presentation Slides
Latest Performance Report
Latest Shareholder Updates
CURRENT SHARE PRICE (ASX:PL8)

ASX ANNOUNCEMENTS
All ASX Announcements

OBJECTIVE
Generate annual income (including franking credits) and outperform (after fees) the Benchmark in total return terms including franking credits over the investment cycle (typically 3 to 5 years).
BENCHMARK
S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (Tax Exempt) ('Benchmark')

Investment Manager

Plato (the ‘Manager’) is a boutique fund manager specialising in maximising income for pension-phase and SMSF investors. Plato was founded in Sydney by Dr Don Hamson in 2006 and is majority owned and operated by its investment staff and supported by its minority equity holder, Pinnacle Investment Management Limited (AFSL 322140).

BOARD OF DIRECTORS

The Company believes that the Manager has the skill, depth of knowledge and history of achieving results using the Investment Strategy and processes to manage this Portfolio.

The Manager will be overseen by the Board of Directors who have a broad range of experience in investment management combined with financial and commercial expertise.

Meet our Board 

RATINGS

Recommended - Zenith Investment Partners1

Recommended - Independent Investment Research2

Further information on our Ratings can be found in the Disclaimer & Disclosure section.

PROSPECTUS

DOWNLOAD PROSPECTUS

platform availability

If PL8 is not available on your preferred platform, please contact us. Please check with your platform for minimum investment requirements and fees.

  • AMP North
  • Asgard
  • BT Panorama
  • HUB24
  • Insignia eXpand
  • Macquarie Wrap
  • Netwealth
  • OneVue

LATEST UPDATES

PERFORMANCE AS AT 31 OCTOBER 2023

1Past performance is not a reliable indicator of future performance. Performance is quoted in AUD net of portfolio related fees, costs and taxes. All p.a. returns are annualised.
2Including franking credits and special dividends.
3Distributed income including franking credits.
1NTA calculations exclude Deferred Tax Assets relating to capitalised cost deductions and carried forward tax losses of $0.006. The Franking Account Balance (not reflected in NTA) is $0.026 per share. These figures are subject to audit.
2Pre-tax NTA includes tax on realised gains or losses and other earnings, but excludes any provision for tax on unrealised gains or losses.
3Post-tax NTA includes tax on realised and unrealised gains or losses and other earnings.

PL8 MONTHLY DIVIDENDS

Source: Plato. Excludes special dividends paid by the Company. While monthly dividends have been paid since October 2017, this may change in the future. The declaration of dividends by the company is at the full discretion of the Board (unlike trusts where income must be fully distributed each financial year).

PL8 Share Price v NTA1,2

Source: Iress, Plato Investment Management.
1NTA calculation excludes Deferred Tax Assets relating to capitalised cost deductions and carried forward tax losses of $0.006. The Franking Account Balance (not reflected in NTA) is $0.026 per share.
2Pre-tax NTA includes tax on realised gains or losses and other earnings, but excludes any provision for tax on unrealised gains or losses.

PORTFOLIO PROFILE AS AT 31 OCTOBER 2023

1Stocks listed are the largest 10 yielding stocks in our portfolio with a greater than 0.5% portfolio weight. 2Yield is calculated as the dividends (including specials and franking credits) paid over the last 12mths divided by the price as at the report date.

UPDATES AND REPORTS

LATEST REPORT

Click on the link below to view the full monthly report.

FULL REPORT

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PRIOR MONTH REPORTFY23 FULL-YEAR RESULTS PRESENTATIONFY23 FULL-YEAR RESULTSFY23 HALF-YEAR RESULTS PRESENTATIONFY23 HALF-YEAR RESULTSFY22 FULL-YEAR RESULTS PRESENTATIONFY22 HALF-YEAR RESULTS PRESENTATIONFY21 FULL-YEAR RESULTS PRESENTATIONFY21 FULL-YEAR RESULTSFY21 HALF-YEAR RESULTS PRESENTATIONFY21 HALF-YEAR RESULTSFY23 ANNUAL REPORTFY22 ANNUAL REPORTFY21 ANNUAL REPORT

CORPORATE GOVERNANCE

The Board has the responsibility of ensuring the Company is properly managed so as to protect and enhance shareholders’ interests in a manner that is consistent with the Company’s responsibility to meet its obligations to all parties with which it interacts. To this end, the Board has adopted what it believes to be appropriate corporate governance policies and practices having regard to its size and the nature of activities.

The Board endorses the Corporate Governance Principles and Recommendations (ASX Recommendations) published by the ASX Corporate Governance Council and has adopted corporate governance charters and policies reflecting those ASX Recommendations (to the extent that such principles and recommendations are applicable to an entity of the size and structure of the Company).

Corporate Governance Statement Download

Corporate Governance Charter Download

Whilstleblower Policy

SHAREHOLDER ENQUIRIES

For information regarding investor shareholdings, please contact invest@plato.com.au or the Share Registry.

Share Registrar: Automic

Address: Level 5, 126 Phillip Street, Sydney NSW 2000
GPO Box 5193, Sydney NSW 2001

Phone (Australia): 1300 902 587
Phone (International): +61 2 7208 4521

Email: hello@automic.com.au

Distribution of meeting-related documents and annual reports to shareholders

Shareholders who would like to receive meeting-related documents such as notices of meeting and annual reports in physical form must notify PL8’s share registry (Automic) online at https://investor.automic.com.au/ or by phone on 1300 902 587 (within Australia)​ or +61 2 7208 4521 (outside Australia). Shareholders who do not wish to receive annual reports or would like to receive meeting-related documents and annual reports in electronic form may also make their elections online or by phone.

In addition to any elections, shareholders may also make an ad hoc request for a particular document1 to be sent in physical or electronic form.

Shareholders who do not notify Automic of their election and have provided a valid email address to Automic will receive meeting-related documents and annual reports in electronic form.

Any elections made by shareholders before 1 April 2022 will continue to apply unless PL8 or Automic advise otherwise.

1a document that relates to a meeting of the members; a document that relates to a resolution to be considered by the members without a meeting; a report mentioned in s314 of the Corporations Act, including a financial report, directors report and auditor’s report; a notice of members rights provided under s 110K of the Corporations Act; or a document prescribed by the Corporations Regulations 2001 (Cth).

RESEARCH RATINGS DISCLAIMER

1The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned June 2023) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

2 The rating ascribed by IIR is provided under the Annual LIC Research Participation Scheme whereby the LIC Manager provides information and IIR rating is monitored on a monthly basis to ensure its currency – The manager is a participant as of 22 December 2021 and as such this rating is current. Please note an ascribed rating does not constitute advice in any form. We recommend to any reader that no investment decisions are made on this fund without seeking advice from your Wealth Manager.

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“A good decision is based on knowledge and not on numbers.”

Plato (427-347 BC)

“A good decision is based on knowledge and not on numbers.”

Plato (427-347 BC)