Publication of Prospectus

RNS Number : 1506O

Miton UK MicroCap Trust plc

04 February 2016

 

4 February 2016

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM OR TO PROFESSIONAL INVESTORS IN IRELAND)

This announcement is an advertisement and does not constitute a prospectus and investors must only subscribe for or purchase any shares referred to in this announcement on the basis of information contained in a prospectus (the "Prospectus") published by Miton UK MicroCap Trust plc (the "Company") on 4 February 2016 and not in reliance on this announcement. A copy of the Prospectus will, subject to certain access restrictions, shortly be available for inspection on the Company's website: via www.mitongroup.com, and at the Company's registered office: Beaufort House, 51 New North Road, Exeter EX4 4EP. This announcement does not constitute and may not be construed as, an offer to sell or an invitation to purchase, investments of any description, or a recommendation regarding the issue or the provision of investment advice by any party. No information set out in this announcement or referred to in other written or oral form is intended to form the basis of any contract of sale, investment decision or any decision to purchase shares in the Company.

FOR IMMEDIATE RELEASE

Miton UK MicroCap Trust plc

Publication of Prospectus

Further to the announcement made by Miton UK MicroCap Trust plc (the "Company") on 2 February 2016, the Company announces the publication of the Prospectus in connection with the proposed issue of up to 250 million new ordinary and/or C shares in aggregate through a share issuance programme (the "Share Issuance Programme") over the next 12 months, commencing with an initial issue of C shares ("C Shares") through a placing, offer for subscription and intermediaries offer at a price of 50 pence per C Share (the "Issue"), targeting gross proceeds of £30 million.

Further details of the Share Issuance Programme are set out in the Prospectus, which will shortly be available on the Company's website (via www.mitongroup.com), subject to certain access restrictions, and will be available for inspection at the Company's registered office at Beaufort House, 51 New North Road, Exeter EX4 4EP.

A copy of the Prospectus will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

Related party transaction

Peter Dicks, a director of the Company, intends to subscribe for 50,000 C Shares in the Issue at 50 pence per C Share, as detailed in the Prospectus. Aggregating this investment with his subscription for 230,000 ordinary shares at the time of the Company's IPO, results in this latest subscription being classified as a smaller related party transaction under Listing Rule 11.1.10 R.

Expected timetable

Publication of the Prospectus	4 February 2016
Latest time and date for receipt of completed application forms in respect of the offer for subscription	1.00pm, 16 February 2016
Latest time and date for receipt of completed applications from intermediaries in respect of the intermediaries offer	3.00pm, 16 February 2016
Latest time and date for commitments under the placing	5.00pm, 16 February 2016
Publication of the results of the Issue	17 February 2016
Admission and dealings in C Shares commence	8.00am, 19 February 2016

Enquiries:

Miton UK MicroCap Trust plc

Gervais Williams Martin Turner David Barron

Tel: [phone]

Peel Hunt LLP

Luke Simpson (Corporate Broking)	Tel: [phone]
Mark Thompson, Eddie Nissen (Sales)
Kathy Boate (Intermediaries)

Four Broadgate - Financial PR

Roland Cross (07831 401309)

Anouchka Burton (07769 145124)

Disclaimer

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated by the Financial Conduct Authority, is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Peel Hunt or advice to any other person in relation to the matters contained herein.

The Company has not been, and will not be, registered under the United States Investment Company Act of 1940, as amended (the "US Investment Company Act") and investors will not be entitled to the benefit of the US Investment Company Act. The Shares may be offered and sold (i) outside the United States to non-US Persons (as defined in Regulation S) in reliance on Regulation S under the US Securities Act of 1933, as amended (the "US Securities Act") and (ii) to persons located inside the United States or US Persons reasonably believed to be "accredited investors" as defined in Rule 501(a) of Regulation D under the US Securities Act who are also "qualified purchasers" as defined in the US Investment Company Act.

The shares of the Company have not been, and will not be, registered under the applicable securities laws of Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom). Subject to certain exceptions, the shares of the Company may not be offered or sold in the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom) or to, or for the account or benefit of, any national, resident or citizen of the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom). The Share Issuance Programme, and the distribution of this announcement, in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

 

END

 

 

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