Premier Investments (PMV)

Shares / Stock Code

PMV

Stock Exchange / Sharemarket

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Premier Investments (PMV) is an Australian public company limited by shares. It has been listed on the Australian Securities Exchange (ASX) since 15 December 1987. Premier was established as an investment company to maximise growth in capital returns to shareholders through the acquisition of controlling or strategic shareholdings in premier Australian companies with a particular concentration on the areas of retailing, importing and distributing.

The Company operates through two business segments: investments and retail. Its subsidiaries include Kimtara Investments Pty Ltd, Premfin Pty Ltd, Springdeep Investments Pty Ltd, Prempref Pty Ltd and Old Blues Pty Limited, among others. On August 5, 2008, the Company acquired an interest in Just Group Limited (Just Group), a specialty fashion retailer in Australia, New Zealand and South Africa. On October 10, 2008, the Company acquired 100% interest in Just Group. Just Jeans Group Pty Ltd, a subsidiary of the Company, has a 50% interest in a joint venture entity, Just Kor Fashion Group (Pty) Ltd, a retailer of the Jay Jays concept in South Africa.

For many years, Premier’s principal investment was a significant shareholding in Coles Myer Limited (subsequently renamed Coles Group). Premier disposed of this investment to an entity associated with Wesfarmers Limited in April 2007. In August 2008 Premier was successful in obtaining control of the Just Group. Premier now owns the brands Just Jeans, Jay Jays, Portmans, Jacqui E, Peter Alexander, Dotti and Smiggle. Premier currently aspires to leverage its expertise and capital position to own and operate a selection of retail/wholesale businesses.

PMV's investments are limited to Coles Myer and Housewares International, a distributor of home goods in Australia and the US. Largely however, a holding in PMV is a proxy for a holding in Coles Myer (CML). Small share funds, institutions and retail investors are the major shareholders/ customers of listed investment companies. There is substantial cross ownership within the listed investment company sector. Listed competitors include other listed investment companies and trusts, pooled development funds, exchange traded funds and absolute return funds. Unlisted competitors are primarily managed funds products distributed through financial planners.