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Share Name Share Symbol Market Type Share ISIN Share Description
Manchester & London Investment Trust Plc LSE:MNL London Ordinary Share GB0002258472 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  18.00 2.88% 644.00 632.00 656.00 656.00 638.00 638.00 154,222 16:35:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -1.7 -5.5 - 241

Manchester & London Subscription and Total Voting Rights

30/09/2020 12:50pm

UK Regulatory (RNS & others)


 
TIDMMNL 
 
MANCHESTER AND LONDON INVESTMENT TRUST PLC 
 
(the "Company" or "MLIT") 
 
30 September 2020 
 
 
Subscription and Total Voting Rights 
 
MLIT announces that M&M Investment Company Plc ("MMIC"), a company controlled 
by Mark Sheppard, the owner of M&L Capital Management Limited, the Company's 
Manager, and a controlling shareholder in the Company, has today subscribed for 
1,262,500 new ordinary shares of 25 pence each ("Subscription Shares") at 640.2 
pence being the price equal to the latest reported Net Asset Value ("NAV") 
("Subscription"). The consideration paid for the Subscription equals GBP 
8,082,525. 
 
Brett Miller, Director of the Company, said: "We are very pleased to have the 
support of our major shareholder in providing funding at the latest reported 
NAV.  The proceeds of the Subscription will provide further investment funds to 
enable the Company to grow, increase liquidity in its shares and spread the 
fixed costs of the Company". 
 
This transaction is deemed to be a smaller related party transaction within the 
definition of Listing Rule 11.1.10R because the percentage ratios are less than 
5% but exceed the 0.25% threshold as set out in LR 11.1.10R(1). 
 
Following the Subscription, Mark Sheppard, via MMIC, will be interested in a 
total of 19,892,519 ordinary shares of 25 pence each ("Ordinary Shares") in 
MLIT, representing 53.19% of the Company's issued share capital, as enlarged by 
the Subscription. The Subscription Shares will rank pari passu with the 
existing Ordinary Shares in issue. 
 
Applications are being made to the UK Listing Authority and the London Stock 
Exchange for the Subscription Shares to be admitted to the Official List and to 
trading on the London Stock Exchange's Main Market for listed securities (the 
"Admission"). The Admission is expected to take effect and dealings in the 
Subscription Shares will commence at 8:00 am (London Time) on 6th October 2020. 
 
Following Admission, the total number of Ordinary Shares in issue with voting 
rights in the Company will be 37,398,238. This figure may be used by 
shareholders as the denominator for the calculation by which they may determine 
if they are required to notify their interest in, or a change to their interest 
in, the Company under the FCA's Disclosure Guidance and Transparency Rules. 
 
The information contained within this announcement is considered to be inside 
information, for the purposes of Article 7 of EU Market Regulation 596/2014, 
prior to its release. 
 
For enquiries: 
 
Manchester and London Investment Trust PLC                   020 7584 5733 
M&L Capital Management Limited                                          0207 
584 5733 
Dickson Minto (Sponsor) 
                       (0) 20 7649 6823 
 
LEI: 213800HMBZXULR2EEO10 
 
 
 
END 
 

(END) Dow Jones Newswires

September 30, 2020 07:50 ET (11:50 GMT)

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