LONDON - Miton UK MicroCap Trust PLC (LSE:MINI), a publicly traded investment company, has announced that it will make an interim distribution payment following the recent redemption of its ordinary shares. The payment is related to the company's annual redemption facility, which allows shareholders to request the redemption of their shares.
The board had previously set a deadline of October 1, 2024, for shareholders to submit requests for the November 5, 2024, redemption point. Following the division of the company's assets and liabilities into two pools—the Redemption Pool (NASDAQ:POOL) and the Continuing Pool—the board has now confirmed that the interim distribution will be 48.43 pence per redeemed ordinary share. This figure includes dividends and bank interest received and takes into account the costs associated with the November 2024 redemption, as well as a proportion of the company's ongoing expenses not tied to any specific pool.
The interim distribution is a result of the near completion of the asset realization process within the Redemption Pool, with only two small suspended positions remaining. Due to the uncertain nature and timing of these positions being realized, the directors have opted to proceed with an interim payout.
Former shareholders who participated in the November 2024 redemption can expect to receive their payments on or around February 4, 2025. Miton UK MicroCap Trust will issue further updates regarding the final distribution once the remaining positions are resolved and the final amounts are determined.
This interim distribution reflects the company's adherence to its stated redemption policy and its commitment to providing shareholder returns in accordance with the proceeds from the Redemption Pool's assets. The information is based on a press release statement from Miton UK MicroCap Trust PLC.
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