The shares of PGPE are listed on the London Stock Exchange. The company's independent board has proposed the introduction of two share classes, according to a statement from Partners Group, which manages the trust.
The proposed structure would give shareholders a choice between maintaining exposure to the company's long-term investment strategy and following a defined path to liquidity within specified timeframes.
According to the company, the proposal is intended to address the persistent discounts to net asset value (NAV) at which the vast majority of UK-listed investment trusts, particularly private equity vehicles, have traded for some time.
«Continuing Ordinary Share» or «Realization Shares»
Shareholders would be able to choose either Continuing Ordinary Shares, which would continue to follow the company’s existing investment strategy, or Realization Shares, under which investments would be gradually realised and proceeds distributed over time, with no new investments being made.
