Miton UK MicroCap Trust plc Annual Option To Redeem Ordinary Shares (3144I)
March 20 2018 - 7:59AM
UK Regulatory
TIDMMINI
RNS Number : 3144I
Miton UK MicroCap Trust plc
20 March 2018
MITON UK MICROCAP TRUST PLC (the "Company")
ANNUAL OPTION TO REDEEM ORDINARY SHARES
YOU DO NOT HAVE TO TAKE ANY ACTION IF YOU WISH TO RETAIN YOUR SHARES
Under the Company's Articles of Association, the Company operates
an annual voluntary redemption facility through which shareholders
may request the redemption of all or part of their holding of redeemable
ordinary shares of 0.1p each ("ordinary shares") for cash on the
last business day in April in each year.
There is no requirement for shareholders to take any action should
they wish to retain their ordinary shares.
As at close of business on 19 March 2018, the ordinary share price
was 67.10p, and the net asset value (including current period revenue)
was 68.13 per ordinary share, so the ordinary shares were trading
at a 1.51% discount.
A redemption of ordinary shares may be subject to income tax and/or
capital gains tax. In particular, private shareholders who sell
their shares via the redemption mechanism could find they may be
subject to income tax on the gains made on the redeemed shares rather
than the more usual capital gains tax on the sale of their shares
in the market. Individual circumstances do vary, however, so shareholders
who are in any doubt about the redemption or the action required
to be taken should consult their stockbroker, accountant, tax adviser
or other independent financial adviser.
The investment objective of the Company is to provide shareholders
with capital growth over the long term. The Directors of the Company
will be retaining their shares and not redeeming any of their ordinary
shares under the redemption facility this year.
Shareholders submitting valid requests for the redemption of ordinary
shares will have their shares redeemed at the Redemption Price or
the Company may arrange for such shares to be sold in the market
at the Net Asset Value (including current period revenue) prevailing
at the end of April (subject to the Directors' discretion). The
Directors are minded to approve all requests unless there are exceptional
reasons why this would be contrary to the interests of shareholders.
Shareholders wishing to request the redemption of all or any of
their ordinary shares at the proposed Redemption Point should deliver
to the Company's Registrar a duly completed Redemption Request form
together with their share certificate (in respect of shares held
in certificated form) or TTE instruction (in respect of shares held
in uncertificated form) in accordance with the timetable set out
below. Redemption Request forms are available from the Company's
Registrar, Link Asset Services, on 0371 664 0321 (calls are charged
at the standard geographic rate and will vary by provider. Calls
outside the United Kingdom will be charged at the applicable international
rate. The helpline is open between 9.00 am - 5.30 pm, Monday to
Friday excluding public holidays in England and Wales. Please note
that Link Asset Services cannot provide any financial, legal or
tax advice and calls may be recorded and monitored for security
and training purposes) or by email at shareholderenquiries@linkgroup.co.uk.
The relevant dates for the April 2018 Redemption Point are outlined
below:
29 March 2018 Latest date for receipt of Redemption Requests and
certificates for certificated shares
3.00 pm on 29 Latest date and time for receipt of Redemption Requests
March 2018 and TTE instructions for uncertificated shares via
CREST
5.00 pm on 30 Redemption Point
April 2018
On or before Company to notify Redemption Price and dispatch redemption
15 May 2018 monies; or
If the redemption is to be funded by way of a Redemption
Pool, Company to notify the number of shares being
redeemed. Notification of Redemption Price and dispatch
of redemption monies to take place as soon as practicable
thereafter
On or before Balance certificates to be sent to shareholders (where
30 May 2018 applicable)
Further details of the redemption facility are set out in the Company's
Articles of Association, and are also available from the Company
Secretary.
The Directors of the Company have discretion over the operation
of the redemption facility and the calculation of the Redemption
Price.
Defined terms in this announcement have the same meaning as set
out in the Articles of Association, a copy of which may be obtained
from the Company Secretary.
20 March 2018
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCKMGZFZGKGRZM
(END) Dow Jones Newswires
March 20, 2018 08:59 ET (12:59 GMT)
Miton Uk Microcap (LSE:MINI)
Historical Stock Chart
From Apr 2024 to May 2024
Miton Uk Microcap (LSE:MINI)
Historical Stock Chart
From May 2023 to May 2024