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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 / 1819

Mithras Inv.Trst PLC - Interim Management Statement

Wed 25th April, 2018 3:14pm
RNS Number : 1218M
Mithras Investment Trust PLC
25 April 2018
 

Mithras Investment Trust PLC (the "Company")

Company No: 2478424

 

 

Interim Management Statement (Unaudited)

 

For the three months ended 31 March 2018

 

The Company has prepared this Interim Management Statement ("IMS") voluntarily and it covers the three months ended 31 March 2018.

                                                                                                                                          

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.

 

In December 2012, the Board announced that the core strategy of returning capital to shareholders would be achieved through a series of tender offers.

 

The Company's investment portfolio consists of a commitment to Mithras Capital Fund LP ("MCF"), which is invested in European and United States based limited partnership buyout funds.

 

 

Financial Position and Performance Summary

 

 

 

At 31 March 2018

 

At 31 December 2017

% change to previous period

Net Asset Value per Ordinary 2p share (pence)

255.0

255.5

(0.2)

Mid market quoted share price (pence)

250.0

222.0

12.6

Discount (%)

1.9

13.1

(11.2)

FTSE All-Share Index

6,766.2

7,265.7

(6.9)

 

Material Events and Transactions

In the three months ended 31 March 2018, the Company received gross distributions totalling £1.5 million with £0.1 million being retained by MCF to meet ongoing obligations. These distributions principally comprised proceeds from PAI Europe V's disposal of Kiloutou and OCM POF IV's disposal of Cyanco.  

 

As at 31 March 2018, the Company's maximum outstanding commitment to MCF was £3.0 million. However, the Company does not expect this amount to be fully drawn and the current expectation is that up to £0.3 million may be drawn by MCF. The Company's cash balance at 31 March 2018 was £6.0 million.

 

At the Annual General Meeting ("AGM") on Wednesday, 25 April 2018, shareholders approved a final dividend of 4.0p per Ordinary 2p share payable on 4 May 2018 to shareholders on the Register of Members on 2 March 2018.

 

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 6,068,659 Ordinary shares in issue.

 

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

 

25 APRIL 2018 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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