REG-Miton UK Microcap Trust Plc: Results of First General Meeting and Scheme Elections

Miton UK Microcap TrustAnnouncement

10/04/2025 13:30

Legal Entity Identifier: 21380048Q8UABVMAG916

 

Miton UK MicroCap Trust plc 
("MINI" or the "Company")

Results of First General Meeting

In connection with the proposals for the winding up of the Company by way of a
scheme of reconstruction pursuant to section 110 of the Insolvency Act 1986
(the "Scheme"), the Board is pleased to announce that the Resolutions which
were put forward at the First General Meeting held today have been approved by
Shareholders.

Details of the number of votes cast for, against and withheld in respect of
the resolutions are set out below and will also be published on the Company's
website:

 Resolution                                                                                                                                                                                                     Votes for (incl. discretionary)  %      Votes against  %     Total votes cast  Votes cast (excl. votes withheld) 1  Votes withheld  
 1. To approve the reclassification of the shares in the capital of the Company as shares with "A" rights and shares with "B" rights and to approve changes required to the Company's articles of association.  12,833,998                       99.62  48,711         0.38  12,882,709        28.10                                10,000          
 2. To approve the Scheme; further amend the Company's articles of association in order to implement the Scheme; and to instruct the Liquidators to give effect to the Scheme.                                  12,843,998                       99.62  48,711         0.38  12,892,709        28.13                                0               

1 As a percentage of total voting rights

For the purposes of section 341 of the Companies Act 2006, the votes validly
cast are expressed in the table above as a percentage of the Company's total
voting rights, being 45,840,069 as at 8 April 2025, being the time at which a
shareholder had to be registered in the Register of Members in order to vote
at the First General Meeting.  A vote "withheld" is not a vote in law and has
not been counted as a vote "for" or "against" a resolution.

The number of Ordinary Shares in issue at the date of this announcement is
45,840,069. There are no Ordinary Shares held in treasury. Therefore, as at
the date of this announcement the number of voting rights in the Company are
45,840,069.

 

The full text of the Resolutions can be found in the notice of First General
Meeting contained in the Company's circular to Shareholders dated 12 March
2025 (the "Circular"). The Circular is available for viewing at the National
Storage Mechanism which can be located at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's
website at: https://www.mitonukmicrocaptrust.com/documents/

Results of Scheme Elections

The Board also announces the following Elections in connection with the
Scheme:
* Rollover Option: 22,221,024 Ordinary Shares / 48.48 per cent. of issued
share capital, which will be reclassified as Reclassified Shares with "A"
rights, being the right to receive Sub-Fund Shares; and
* Cash Option:  23,619,045 Ordinary Shares / 51.52 per cent. of issued share
capital, which will be reclassified as Reclassified Shares with "B" rights,
being the right to receive cash.
 

In accordance with the Scheme, eligible Shareholders that made no Election
(and satisfied the KYC Requirements) have been deemed to have elected for the
Rollover Option. Ordinary Shareholders who did not satisfy the KYC
Requirements or who are otherwise Restricted Shareholders, have been deemed to
have elected for the Cash Option.

 

In accordance with the timetable, the Ordinary Shares were disabled for
settlement in CREST from 6:00 p.m. on 8 April 2025 and trading was
suspended from 7.30 a.m. on 9 April 2025. Following the reclassification of
the Ordinary Shares on 19 May 2025, the Reclassified Shares will be suspended
from listing at 7.30 a.m. on 21 May 2025.

The cancellation of the listing of the Reclassified Shares is expected to
occur as soon as practicable after the Effective Date.

 Defined terms used in this announcement shall, unless the context requires otherwise, have the meanings ascribed to them in the Circular.  

Enquiries:

 

Premier Miton Investors (Investment Manager)

Gervais Williams, Martin Turner, Claire Long  Tel: 020 3714 1500

 

Peel Hunt LLP (Broker) 

Huw Jeremy, Luke Simpson, Liz Yong   Tel: 020 7418 890



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