Redemption of Ordinary Shares

Miton UK MicroCap Trust plc
10 January 2024
 

10 January 2024

 

MITON UK MICROCAP TRUST PLC (the "Company")

 

REDEMPTION OF ORDINARY SHARES AND TOTAL VOTING RIGHTS

 

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 2 November 2023 Redemption Point was 3 October 2023 (the "November 2023 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 assets of the Redemption Pool have now been realised. The Redemption Price per Ordinary Share equals the aggregate cash received by the Company upon the realisation of the Redemption Pool, after deducting the costs of the redemption, and a prorata share of the costs and expenses of the Company not attributable to a particular pool, divided by the number of Redemption Shares.

 

On that basis, the Board confirms that the Redemption Price for the 2 November 2023 Redemption Point is 53.28 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 2023 Redemption on or around 24 January 2024.

 

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


Liz Yong

Luke Simpson

Huw Jeremy

Tel: 020 7418 8900

 

LEI:  21380048Q8UABVMAG916

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings