Miton Global Opportunities to put three proposals to shareholders – Miton Global Opportunities (MIGO) has announced that it will put three proposals before shareholders at a general meeting to be held on 5 October 2018 at 11.45 a.m.
The proposals are:
Change the company’s articles
Change the Articles so that the form of the Realisation Opportunity currently contemplated can be amended to provide the company with additional flexibility
2018 realisation opportunity
Approve the form of the 2018 Realisation Opportunity, which provides Shareholders with the option to either:
- retain their current investment in MIGO; or
- realise their investment in the company, by making a Realisation Election which is intended to be satisfied in cash at the Realisation Price, which will represent a 1.6% discount to NAV per Ordinary Share as at Election NAV Determination Date
Changes to the company’s objective
Amend the index referenced in the company’s investment objective and, as a consequence, the index used to calculate performance fees potentially payable, in certain circumstances, to Miton, the investment manager.
The company’s current objective is “to outperform Sterling 3 month LIBOR plus 2% (the interbank lending rate) over the longer term, principally through exploiting inefficiencies in the pricing of closed-ended investment funds such as investment trusts.” Miton are proposing to change the reference benchmark to Bank Of England’s Sterling Overnight Index Average (SONIA). For more information on SONIA, please click here
MIGO : Miton Global Opportunities to put three proposals to shareholders