Cancellation of the Share Premium Account

RNS Number : 9335I

Miton UK MicroCap Trust plc

13 August 2019

 

13 August 2019

MITON UK MICROCAP TRUST PLC (the "Company")

CANCELLATION OF THE SHARE PREMIUM ACCOUNT AND REDEMPTION OF ORDINARY SHARES

The Company announced on 1 July 2019 that it had published a shareholder circular to convene a general meeting to seek authority to cancel the Company's share premium account, in order to create sufficient distributable reserves to satisfy redemption requests in full under the 2019 Redemption Facility.

As previously announced, at the Company's general meeting held on 23 July 2019, a special resolution was passed that, subject to the confirmation of the Court, enabled the balance standing to the credit of the share premium account of the Company as at 1 July 2019 to be cancelled and credited to a reserve. The Company is pleased to announce that, following the approval of the Court and the subsequent registration of the Court order with the Registrar of Companies on 13 August 2019, the cancellation has now become effective. Accordingly, the amount of £86,986,618 previously held in the share premium account has been cancelled and will be transferred to a reserve.

Payments will be despatched on 15 August 2019 to all shareholders who validly applied to have shares redeemed. Valid redemption requests were received under the Company's redemption facility for the 28 June 2019 Redemption Point in relation to 14,317,907 ordinary shares for cancellation at a redemption price of 53.92 pence per ordinary share.

Following cancellation of the above ordinary shares, 138,335,915 ordinary shares in the Company will remain in issue.

Total Voting Rights

The above figure (138,335,915) may be used by ordinary shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to, their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

LEI: 21380048Q8UABVMAG916

Enquiries:

Miton UK MicroCap Trust plc
Gervais Williams Martin Turner David Barron	Tel: [phone]
Peel Hunt LLP
Luke Simpson	Tel: [phone]

 

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