Miton UK MicroCap, managed by Gervais Williams (pictured), has announced that pursuant to the placing, offer for subscription and intermediaries offer of C shares (as described in its prospectus published on 4 February 2016) it has raised gross proceeds of £28m with net proceeds expected to be approximately £27.4m.
The company says that applications received under the issue were for 56,000,000 C shares (the issue issued price is 50 pence per C Share) and that, of these, 6,239,200 C Shares were issued under the offer for subscription and 3,564,300 C Shares were issued under the intermediaries offer. The company says that all applications were met in full and that admission to the London Stock Exchange is expected to occur at 8.00 a.m. on 19 February 2016.
Gervais Williams, manager of the trust said, “We believe we are at a multi-decade turning point where the advantages of the vibrancy of the smallest quoted stocks is yet to be recognised. With world growth stalling there is now increasing interest in a universe of companies that has greater potential to sustain ongoing growth, especially if they come with the prospect of attractive dividends in the coming three to five years”.
Miton UK MicroCap’s C share issue raises £28m : MINI