REG - Mobius Inv.Trust PLC - Update to the Redemption Facility

Mobius Investment TrustAnnouncement

21/10/2025 07:00

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RNS Number : 1023E  Mobius Investment Trust PLC  21 October 2025

MOBIUS INVESTMENT TRUST PLC (the "Company" or "MMIT")

LEGAL ENTITY IDENTIFIER ('LEI'): 21380033EKFQS15X1W22

21 October 2025

Update to the Redemption Facility

In accordance with the Company's Articles of Association, the Company operates
a voluntary redemption facility every three years, with the next redemption
facility taking place on 1 December 2025, through which shareholders may
request the redemption of all or part of their holding of redeemable ordinary
shares of nominal value £0.01 each ("Ordinary Shares") for cash.

The Board of the Company proposes that, following this year's redemption
facility, the Company's triennial voluntary redemption facility shall move to
a biennial cycle. Shareholder approval for changes to the Articles of
Association to amend the Company's voluntary redemption facility from a
triennial cycle to a biennial cycle will be sought at the Company's next
annual general meeting, expected to be in May 2026. Assuming this change is
approved by shareholders, following this year's redemption facility the
Company's next voluntary redemption facility will occur in 2027 and every two
years thereafter.

There are no changes to the Company's upcoming redemption facility this year
and there is no requirement for shareholders to take any action should they
wish to retain their Ordinary Shares.

INFORMATION ON THE REDEMPTION FACILITY

The following information on the Company's redemption facility is unchanged to
that announced on 3 October 2025.

Shareholders submitting valid requests for the redemption of Ordinary Shares
will have their shares redeemed at the Redemption Price. The Company may,
prior to the Redemption Point, in its sole discretion, invite investors to
purchase Ordinary Shares which are the subject of Redemption Requests pursuant
to a matched bargain facility. In addition, the Company may, subject to law
and regulation, purchase Ordinary Shares which are the subject of Redemption
Requests on-market via an intermediary pursuant to an existing shareholder
authority. The price at which such transfers or purchases will be made will
not be less than the Redemption Price which the Shareholder requesting
redemption would have received if the Redemption Price had been determined by
reference to the Dealing Value per Ordinary Share applicable on the relevant
Redemption Point (see further below). Shareholders will be notified after the
Redemption Point whether their Ordinary Shares have been redeemed by the
Company under the redemption facility at the Redemption Price or sold to
incoming investors under the matched bargain facility or purchased by the
Company.

The Directors may elect, at their absolute discretion, to calculate the
Redemption Price on either of the following bases:

1.  The Redemption Price shall be equal to the Dealing Value per Ordinary
Share calculated as at the appropriate Valuation Point on the appropriate
Redemption Point, being the value of all the assets of the Company less its
liabilities, including such provisions and allowances for contingencies and
accrued costs and expenses payable by the Company, including a provision for
the costs that would be incurred in disposing of the Company's investments; or

2.  The Directors may elect to calculate the Redemption Price by reference to
the amount generated upon the realisation of a Redemption Pool created for the
purpose of funding the redemption.

Shareholders wishing to request the redemption of all or any of their
certificated Ordinary Shares at the proposed Redemption Point should deliver
to the Company's Registrar a duly completed Redemption Request form together
with (i) in the case of certificated shareholders, their share certificate; or
(ii) in the case of uncertificated shareholders, a transfer of their Ordinary
Shares from their CREST account to the Company's Registrar's CREST account
(3RA18, member account MMIRED01) via a  Transfer to Escrow ("TTE")
instruction, in accordance with the timetable set out below.  Redemption
Request forms are available from the Company's website
www.mobiusinvestmenttrust.com (http://www.mobiusinvestmenttrust.com) or from
the Company's Registrar, Computershare Investor Services PLC (details below).

The relevant dates for the 2025 Redemption Point are outlined below:

 3 November 2025                Latest date for receipt of Redemption Requests and certificates for
                                certificated shares.
 1.00 pm on 3 November 2025     Latest date and time for TTE instructions for uncertificated shares via CREST.
 6.00 pm on 1 December 2025     The Redemption Point.
 On or before 15 December 2025  Company to notify Redemption Price and dispatch redemption monies; or

If the redemption is to be funded by way of a Redemption Pool, the Company to
                                notify the number of shares being redeemed. Notification of the Redemption
                                Price and dispatch of redemption monies take place as soon as practicable
                                thereafter.
 On or before 31 December 2025  Balance certificates to be sent to shareholders.

Shareholders wishing to request a redemption of their Ordinary Shares are
strongly advised to seek independent professional tax advice as to the
consequences of doing so, in light of their own particular circumstances.

It should be noted that, for UK tax purposes, a redemption of Ordinary Shares
by the Company will generally be treated as involving both (i) a disposal of
Ordinary Shares by the shareholder for the purposes of UK capital gains tax
(or, as applicable, corporation tax on chargeable gains) and (ii) an income
distribution from the Company.  The amount of the income distribution element
would be calculated by reference to the difference between the redemption
proceeds received by the shareholder and the amount that for tax purposes is
treated as paid-in capital attributable to the Ordinary Shares redeemed.
Generally, the amount of paid-in capital attributable to the Ordinary Shares
for these purposes is the amount that was subscribed for them by the original
subscriber when they were first issued by the Company, though it may be less
if there have been subsequent transactions that are treated as having returned
capital on the shares.  Accordingly, the amount treated as paid-in capital
attributable to the Ordinary Shares for these purposes may be less than the
shareholder paid to acquire their Ordinary Shares.

For UK tax resident individual shareholders, the distribution element arising
on a redemption of Ordinary Shares by the Company will generally be subject to
income tax as if it were a dividend, but to the extent that this element is
subject to income tax it should generally then be excluded from the
calculation of any chargeable gain arising on the disposal of Ordinary Shares
pursuant to the redemption.

For shareholders within the charge to UK corporation tax, the distribution
element arising on a redemption of Ordinary Shares is likely to qualify for
exemption from corporation tax, but it should be noted that this exemption for
distributions is subject to a number of conditions and independent
professional tax advice should accordingly be taken.  Based on HM Revenue
& Customs published practice, the distribution element arising on a
redemption of Ordinary Shares should, for corporation tax purposes, generally
be disregarded in determining whether a  chargeable gain arises on the
disposal of Ordinary Shares pursuant to the redemption (though the treatment
of a buy-back of Ordinary Shares, as distinct from a redemption, would be
different in this regard).

Shareholders should also note that their tax treatment may be different if
their Ordinary Shares are acquired by a third party in the market pursuant to
the "matched bargain" facility, rather than being redeemed by the Company
directly.  In this case, the shareholder should generally not be treated as
receiving an income distribution element from the Company and instead the
proceeds should generally be treated as the consideration for a disposal of
the Ordinary Shares for the purposes of capital gains tax or, as applicable,
corporation tax on chargeable gains.

The comments above are general in nature and not intended to be an exhaustive
summary of all potentially relevant tax considerations.  They do not
constitute, and should not in any way be relied upon as, or treated as a
substitute for, tax advice.  All Shareholders should seek their own
independent professional tax advice in light of their own particular
circumstances, including those who may be subject to tax in any jurisdiction
other than the United Kingdom.  Shareholders should note that no clearances
or assurances have been sought from HM Revenue & Customs in relation to
the proposed arrangements.

Further details of the redemption facility are set out in the Company's
Articles of Association and summarised in Part 5 of the prospectus issued by
the Company on 10 September 2018 (the "Prospectus"). Such details are also
available from the Company Secretary on request.

The Directors of the Company have discretion over the operation of the
redemption facility and the calculation of the Redemption Price. The Directors
are minded to approve all valid redemption requests unless there are
exceptional reasons why this would be contrary to the interests of
Shareholders as a whole.

Defined terms in the announcement have the same meaning as set out in the
Articles of Association. Copies of the Articles of Association and the
Prospectus can be obtained from the Company Secretary or can be found on the
Company's website, www.mobiusinvestmenttrust.com
(http://www.mobiusinvestmenttrust.com/) .

Enquiries:

Company Secretary

Frostrow Capital LLP

Kerstin Rucht (Tel: 0203 709 8732)

Richard Plaskett (Tel: 0203 709 2407)

 

Registrar

Computershare Investor Services PLC

The Pavilions

Bridgwater Road

Bristol BS13 8AE

Tel: +44 (0) 370 703 6304

 

Corporate Broker

Peel Hunt LLP

Luke Simpson / Huw Jeremy

Tel: 0207 418 8900

 

 

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