Mithras has announced that, following what it describes as, “a strong start to 2016 in terms of exit proceeds received”, that it is currently preparing for its fifth tender offer. The trust says that this is expected to be for no less than £9.0m and should be completed, including obtaining approvals and receiving tender offer requests, before 6 May 2016.
The announcement says that the fifth tender offer will be priced at net asset value less costs and that these are expected to be in the region of 1-2% of net asset value. The fifth tender offer will be based on the 31 December 2015 net asset value after allowing for the 2015 dividend. Documentation is expected to be sent to shareholders in early April 2016 with the General Meeting, to approve the fifth tender offer, expected to take place immediately after the Company’s Annual General Meeting on 27 April 2016.
Mithras announces fifth tender offer : MTH