Miton UK MicroCap Trust plc Redemption of Ordinary Shares/Total Voting Rights (2519S)
02 Novembre 2023 - 6:15PM
UK Regulatory
TIDMMINI
RNS Number : 2519S
Miton UK MicroCap Trust plc
02 November 2023
2 November 2023
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 2
November 2023 Redemption Point was 3 October 2023.
As announced on 5 October 2023, the total number of Ordinary
Shares in respect of which valid redemption requests were received
for the 2 November 2023 Redemption Point was 17,714,958 Ordinary
Shares (representing 18.7% 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 17,714,958 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 weeks or 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 2 November 2023, following the cancellation of the
Redemption Shares, the Company's issued share capital consists of
76,923,603 Ordinary Shares and 50,000 management shares of GBP1
each. The Company does not hold any shares in treasury. As at 2
November 2023, the total number of voting rights in the Company is
76,923,603.
The above figure (76,923,603) 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, Luke Simpson, Huw Jeremy Tel: 020 7418 8900
LEI: 21380048Q8UABVMAG916
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END
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November 02, 2023 13:15 ET (17:15 GMT)
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