Result of Equity Issue

RNS Number : 8172V

Miton UK MicroCap Trust plc

02 February 2017

 

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).

2 February 2017

Miton UK MicroCap Trust plc

Issue of Equity

Further to its announcement on 31 January 2017, Miton UK MicroCap Trust plc (the "Company") announces that it has raised gross proceeds of £5 million pursuant to an issue of ordinary shares of £0.001 each (the "Ordinary Shares") in the Company (the "Issue"). The Ordinary Shares were issued under the Company's share issuance programme (the "Share Issuance Programme") as described in the prospectus published by the Company on 4 February 2016, as updated by the supplementary prospectus published on 30 September 2016 (the "Prospectus").

Applications have been received under the Issue for 8,318,084 Ordinary Shares at a price of 60.11 pence per Ordinary Share, a premium to the prevailing net asset value (cum income) per Ordinary Share.

Following the issue of the Ordinary Shares, the Company's issued share capital comprises 173,086,001 Ordinary Shares and this is the total number of Ordinary Shares with voting rights in the Company. This figure (173,086,001) may be used by 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.

Applications have been made for admission of the Ordinary Shares to the premium segment of the Official List of the UK Listing Authority and to trading on London Stock Exchange plc's main market for listed securities ("Admission"). Admission is expected to occur at 8.00 a.m. on 3 February 2017.

For further information please contact:

Peel Hunt LLP Luke Simpson, Alan Sauvain (Corporate) Mark Thompson, Eddie Nissen (Sales) Telephone: [phone] Miton Trust Managers Limited David Barron Telephone: [phone]

Disclaimer

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.

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 Issue, 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.

 

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