MIGO Opportunities Trust plc - 2024 Realisation Opportunity
For immediate release
(the "Company")
2024 REALISATION OPPORTUNITY
The Company's articles of association contain provisions enabling shareholders to elect to realise all or part of their holdings at three yearly intervals, such provisions operating in tandem with the Company's share buyback policy which aims to restrict undue widening in the share price discount to NAV.
As noted in the Company's annual report dated
The 2024 Realisation Opportunity is being made available to Shareholders on the terms set out in this document on the Company's website: https://www.assetvalueinvestors.com/content/uploads/2024/07/MIGO-2024-Realisation-Opportunity-Document.pdf (the " Document ").
Shareholders who wish to retain their current investment in the Company should not make an Election.
The price for each Ordinary Share which is validly elected to participate in the 2024 Realisation Opportunity will represent a 2% discount to the net asset value per Ordinary Share as at
The Directors do not intend to realise their Ordinary Shares and highlight that, Shareholders who realise their shareholding may be able to sell on the stock market at a higher price than is expected to be offered under the 2024 Realisation Opportunity.
For further details, please refer to the Document and the Additional notes section below.
Expected timetable
2024
Commencement of Election Period 27 August
Realisation NAV Calculation Date 2 September
Expiry of Election Period and latest time
and date for receipt of Election (whether
via the return by post/hand of the Form of 1.00 p.m. on 3 September
Election or via TTE Instruction in CREST
from Shareholders)
Record Date (for entitlement to participate Close of business on 3 September
in the 2024 Realisation Opportunity)
Announcement of results of Elections and 4 September
announcement of the Realisation Price
Cheque payments expected to be despatched
and CREST payments expected to be made in 11 September
respect of Elected Shares which have been
placed or purchased and bought back
Annual General Meeting 18 September
If Realisation Shares are required to be
created:
Reorganisation Date 25 September
Announcement of 2024 Realisation Opportunity 25 September
overall outcome
Balance share certificates despatched by in the week commencing 30 September
post
The times and dates set out in the expected timetable of events above and mentioned throughout the Annual Report and the Document may be adjusted by the Company, in which event details of the new times and dates will be announced through a
All references to time in this document are to
Additional notes
In the event that a material number of Elections are made, and not all Elected Shares can be placed in the market or purchased by the Broker, acting as principal, and then bought back by the Company, unplaced/unpurchased Elected Shares may, subject to the "£30m NAV Threshold Condition" described in the Document and in accordance with the Document and the Articles, be re-designated as Realisation Shares with effect from
In the event that unplaced/unpurchased Elected Shares are-designated as Realisation Shares, application would be made to admit the Realisation Shares to trading on the
Capitalised terms used in this announcement have the meanings given to them in the Document.
For further information please contact:
Company Secretary
020 3709 8732
Deutsche Numis
Corporate Broker
020 7260 1000
