The board of the Miton UK MicroCap trust, run by Gervais Williams, is to issue up to 250 million new shares over the next 12 months, targeting an initial £30m.
This process will begin with an initial issue of C shares through a placing, offer for subscription and intermediaries offer at 50p per share, targeting proceeds of £30m. The proceeds will allow the trust to make further investments in micro-cap companies and improve the vehicle's liquidity. Williams (pictured) said: "The smallest quoted stocks often have the greatest vibrancy and despite the unsettled markets our investment strategy continues to identify new holdings with attractive risk/reward ratios. "Investors seeking a different investment proposition in a group of assets that...
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