Miton UK
MicroCap Trust plc
LEI:
21380048Q8UABVMAG916
5 November 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 5 November 2024
Redemption Point was 1 October
2024.
As
announced on 2 October 2024, the
total number of Ordinary Shares in respect of which valid
redemption requests were received for the 5
November 2024 Redemption Point was 31,083,534
Ordinary Shares
(representing 40.4%
of the issued share capital) (the "Redemption").
The Board
has resolved to effect the Redemption using the redemption pool
method set out in the Company's articles of association (the
"Articles").
The
Company has notionally divided its assets and liabilities into two
pools:
(i)
the
redemption pool, which will consist of cash, assets and liabilities
attributable to the 31,083,534
Ordinary Shares over
which valid redemption requests were made ("Redemption Pool" and
"Redemption Shares"); and
(ii)
the
continuing pool, which will contain all the other cash, assets and
liabilities of the Company ("Continuing Pool").
Following
this division, the Redemption Shares have today been redeemed and
upon such redemption are treated as cancelled; former holders of
the Redemption Shares are now creditors of the Company.
The assets
of the Redemption Pool will be liquidated and the Redemption Price
per Ordinary Share will equal the aggregate cash received by the
Company upon the realisation of the Redemption Pool, after
deducting the costs of the redemption, which will be borne by the
relevant pool, an adjustment for any attributable unsettled
liabilities and a pro-rata share of the costs and expenses of the
Company not attributable to a particular pool, divided by the
number of Redemption Shares, as set out in the Articles.
It should
be noted that the liquidation of the Redemption Pool is expected to
take some time, possibly months, and the final capital sum will not
be equal to the Company's net asset value per Ordinary Share at the
Redemption Point.
Further
announcements in respect of the Redemption Pool will be made when
appropriate.
Total
Voting Rights
As at
5 November 2024, following the
cancellation of the Redemption Shares, the Company's issued share
capital consists of 45,840,069 Ordinary Shares of 0.01 pence each and 50,000 Management Shares of
£1 each. The Company does not hold any shares in treasury. As at
5 November 2024, the total number of
voting rights in the Company is 45,840,069.
The above
figure (45,840,069) may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest, or a change to their interest,
in the Company under the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
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 (Broker)
|
|
Liz Yong,
Huw Jeremy
|
Tel: 020
7418 8900
|
