REG-Miton UK Microcap Trust Plc: Redemption of Ordinary Shares - Interim Distribution

Miton UK Microcap TrustAnnouncement

24/01/2025 16:30

 

 

Miton UK MicroCap Trust plc

LEI: 21380048Q8UABVMAG916

 

 

MITON UK MICROCAP TRUST PLC (the "Company")

 

REDEMPTION OF ORDINARY SHARES - INTERIM DISTRIBUTION

 

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 submission of redemption requests for the 5 November 2024
Redemption Point was 1 October 2024 (the "November 2024 Redemption").

 

The Board resolved to effect the Redemption using the Redemption Pool method
set out in the Company's Articles, pursuant to which the Company divided its
assets and liabilities into two pools, the Redemption Pool and the Continuing
Pool.

 

The realisation of the Redemption Pool has progressed well and is nearly
complete, with only two small positions remaining, which are currently
suspended and which may take time to realise, with no certainty on the amounts
to be realised. As such, the Directors have resolved to make an interim
distribution in respect of the Ordinary Shares redeemed in the November 2024
Redemption (the "Interim Distribution"). The Interim Distribution per redeemed
Ordinary Share equals the aggregate cash received to date by the Company upon
the realisation of the Redemption Pool, after deducting the costs of the
November 2024 Redemption, and a pro-rata share of the costs and expenses, to
date, of the Company not attributable to a particular pool, divided by the
number of Redemption Shares.

 

On that basis, the Board confirms that the Interim Distribution for the 5
November 2024 Redemption Point is 48.43 pence per redeemed Ordinary Share
including dividends and bank interest received.  Payments will be
despatched to the former shareholders of the Company whose shares were
redeemed in the November 2024 Redemption on or around 4 February 2025.

 

The Company will provide a further update regarding the final distribution in
due course.

 

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              

 

 

 



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