Mithras Investment Trust logo

MTH - Mithras Investment Trust News Story

241p 0.0  0.0%

Last Trade - 11/09/18

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £3.24m
Position in Universe th / 1809

Mithras Inv.Trst PLC - Interim Management Statement

Tue 28th April, 2015 2:31pm
RNS Number : 5633L
Mithras Investment Trust PLC
28 April 2015

Mithras Investment Trust PLC (the "Company")

Company No: 2478424

Interim Management Statement (Unaudited)

For the three months ended 31 March 2015

The Company's Interim Management Statement ("IMS") covers the three months ended 31 March 2015.

Objective and Investment Policy

The Company's investment objective, approved by shareholders in January 2009, is to follow a realisation strategy which aims to crystallise value for shareholders in a manner which seeks to achieve a balance between returning cash to shareholders promptly and maximising the value of the Company's portfolio.

The Company will not make any new investments but will continue to meet its existing outstanding commitment to Mithras Capital Fund ("MCF"). The Company will retain sufficient cash resources to meet all outstanding obligations. Realised cash may be invested in AAA-rated money market funds pending return to shareholders in accordance with the Company's investment objective.

Financial Position and Performance Summary

At 31 March 2015

At 31 December 2014

% change toprevious period

Net Asset Value per Ordinary 2p share (pence)

159.6

162.1

(1.5)%

Mid market quoted share price (pence)

142.5

142.5

0%

Discount (%)

10.7

12.1

(1.4)%

FTSE All-Share Index

5,703.4

5,449.1

4.7%

Material Events and Transactions

In the three months ended 31 March 2015, the Company paid no capital calls and received a cash distribution from MCF of 2.3 million which comprised distribution proceeds from CVC Europe V, PAI Europe V and Riverside Europe III.

As at 31 March 2015, the Company's maximum outstanding commitment to MCF was 4.3 million. However, given MCF's fully invested position, the Company's current expectation is that up to 1.6 million may be drawn by MCF. The Company's cash balance at 31 March 2015 was 8.0 million.

At the Annual General Meeting ("AGM") on Tuesday, 28 April 2015, shareholders approved a final dividend of 1.0p per Ordinary 2p share payable on 15 May 2015 to shareholders on the Register of Members on 20 March 2015.

A copy of the presentation given at the AGM will shortly be available on the Company's website, www.mithrasinvestmenttrust.com.

There have been no changes in the Company's share capital in the quarter under review, which remains at 23,342,043 Ordinary shares in issue.

Asset Allocation

At 28 April 2015

At 31 March 2015

%

%

Fund of funds

79.5

79.5

Cash and current assets less

non-current liabilities

20.5

20.5

100.0

100.0

A copy of this IMS is available on the Company's website at www.mithrasinvestmenttrust.com

For further information, please contact:

Mr Bernie Boylan

Mithras Capital Partners LLP

Tel: 020 7872 5651

28 APRIL 2015


This information is provided by RNS
The company news service from the London Stock Exchange
END
IMSPGUUWCUPAGWR
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.