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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 ordinary part of it. The payment is related to the company’s annual redemption facility, which allows shareholders to request the redemption of their shares.
The board 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:) 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 redemption in November 2024, as well as a proportion of the company’s ongoing costs that are 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 chosen to proceed with an interim payment.
Former shareholders who participated in the redemption in November 2024 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 settled and the final values determined.
This interim distribution reflects the company’s compliance with its stated redemption policy and its commitment to provide shareholder returns based on the proceeds from the assets of the Redemption Pool. The information is based on a press release statement from Miton UK MicroCap Trust PLC.
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