Miton UK MicroCap Trust plc Annual Option To Redeem Ordinary Shares (3144I)

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 [e-mail]. 
 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

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March 20, 2018 08:59 ET (12:59 GMT)