Miton UK MicroCap Trust (LON:MINI) 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 on an annual basis. The operation of the Redemption Facility is entirely at the discretion of the board of directors of the Company. The deadline for the 30 June 2022 Redemption Point was 31 May 2022 (the “June 2022 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 notionally 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 pro‐rata 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 30 June 2022 Redemption Point is 71.89 pence per redeemed Ordinary Share. Payments will be despatched to the former shareholders of the Company whose shares were redeemed in the June 2022 Redemption on or around 19 September 2022.
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.
Miton UK MicroCap Trust plc (LON: MINI) intends to invest primarily in the smallest companies, measured by their market capitalisation, quoted or traded on an exchange in the United Kingdom at the time of investment.
