Plato Income Maximiser Limited (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.
Fully Paid Ordinary Shares (ASX Code : PL8) and PL8O Options ($1.10, expiry date 29 April 2019; ASX Code : PL8O) listed on the Australian Stock Exchange on 21 April 2017. The original Prospectus is viewable here.
Source: Bloomberg. For historical information purposes only. Please refer to Latest ASX net tangible asset backing announcement for current NTA information.
Plato Income Maximiser completes entitlement offer to meet demand for income
With official cash rates and bond yields plummeting to record lows, investors are increasingly looking for dividend payments as a replacement for their cash and fixed interest income.
To help meet this increased demand, Plato Income Maximiser Limited (PL8 or the Company) announced an entitlement offer on 8 August 2019. The offer consisted of 1 new share for every 1.6 ordinary shares held by existing eligible shareholders on the record date of 13 August 2019. There was also an over-subscription facility for existing shareholders to apply for shares in excess of their entitlement. Shares not taken up by existing shareholders were offered to new retail and institutional investors at $1.10 each in the Broker Firm Shortfall Offer.
Both the Entitlement Offer and the Broker Firm Shortfall Offer closed on 30 August 2019. The Offer raised approximately $144.2 million in total.
Benefits from the Offer included a larger market capitalisation which is expected to attract greater research coverage and provide more liquidity, a more diverse shareholder base and a lower management expense ratio.
In this re-recording Dr Don Hamson and Conor O’Daly provide an overview of the Plato Income Maximiser (ASX: PL8) Entitlement Offer, which closed on 30 August 2019.
The company is also committed to the highest standard of ethical conduct and maintaining a an open and transparent culture of corporate compliance. Our whistleblower policy is viewable here.
Plato Income Maximiser Limited
Net Tangible Assets Reports
Corporate Governance Charter
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