Redemption of Ordinary Shares and Total Voting Rights
05/11/2024 17:10
Miton UK MicroCap Trust plc
LEI: 21380048Q8UABVMAG916
5 November 2024
MITON UK MICROCAP TRUST PLC
(the "Company")
Redemption of Ordinary Shares and Total Voting Rights
The Company has a redemption facility through which shareholders are entitled
to request the redemption of all or part of their holding of ordinary shares
of 0.1 pence each ("Ordinary Shares") on an annual basis (the "Redemption
Facility"). The operation of the Redemption Facility is entirely at the
discretion of the board of directors of the Company (the "Board"). The
deadline for the 5 November 2024 Redemption Point was 1 October 2024.
As announced on 2 October 2024, the total number of Ordinary Shares in respect
of which valid redemption requests were received for the 5 November 2024
Redemption Point was 31,083,534 Ordinary Shares (representing 40.4% of the
issued share capital) (the "Redemption").
The Board has resolved to effect the Redemption using the redemption pool
method set out in the Company's articles of association (the "Articles").
The Company has notionally divided its assets and liabilities into two pools:
(i) the redemption pool, which will consist of cash, assets
and liabilities attributable to the 31,083,534 Ordinary Shares over which
valid redemption requests were made ("Redemption Pool" and "Redemption
Shares"); and
(ii) the continuing pool, which will contain all the other cash,
assets and liabilities of the Company ("Continuing Pool").
Following this division, the Redemption Shares have today been redeemed and
upon such redemption are treated as cancelled; former holders of the
Redemption Shares are now creditors of the Company.
The assets of the Redemption Pool will be liquidated and the Redemption Price
per Ordinary Share will equal the aggregate cash received by the Company upon
the realisation of the Redemption Pool, after deducting the costs of the
redemption, which will be borne by the relevant pool, an adjustment for any
attributable unsettled liabilities and a pro-rata share of the costs and
expenses of the Company not attributable to a particular pool, divided by the
number of Redemption Shares, as set out in the Articles.
It should be noted that the liquidation of the Redemption Pool is expected to
take some time, possibly months, and the final capital sum will not be equal
to the Company's net asset value per Ordinary Share at the Redemption Point.
Further announcements in respect of the Redemption Pool will be made when
appropriate.
Total Voting Rights
As at 5 November 2024, following the cancellation of the Redemption Shares,
the Company's issued share capital consists of 45,840,069 Ordinary Shares of
0.01 pence each and 50,000 Management Shares of £1 each. The Company does not
hold any shares in treasury. As at 5 November 2024, the total number of voting
rights in the Company is 45,840,069.
The above figure (45,840,069) may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest, or a change to their interest, in the Company under the
Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Defined terms in the announcement have the same meaning as set out in the
Articles of Association, a copy of which may be obtained from the Company
Secretary.
Enquiries:
Miton UK MicroCap Trust plc
Gervais Williams, Martin Turner, Claire Long Tel: 020 3714 1500
Peel Hunt LLP (Broker)
Liz Yong, Huw Jeremy Tel: 020 7418 8900
Copyright (c) 2024 PR Newswire Association,LLC. All Rights Reserved