Miton Global Opportunities PLC commences an Equity Buyback Plan for 4,167,967 shares, representing 14.99% of its issued share capital, under the authorization approved on September 24, 2020.
November 12, 2020 at 05:00 am
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Miton Global Opportunities PLC (LSE:MIGO) commences share repurchases on November 12, 2020, under the program mandated by the shareholders in the Annual General Meeting held on September 24, 2020. As per the mandate, the company is authorized to repurchase up to 4,167,967 shares, representing 14.99% of the issued share capital of the company. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.1 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 105% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System. The shares purchased may either be cancelled or held as treasury shares, which may then be cancelled or sold for cash. Unless previously revoked or varied, the share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting of the company in 2021. As of July 13, 2020, the company had 27,804,985 shares.
MIGO Opportunities Trust plc is a United Kingdom-based investment company. The investment objective of the Company is to outperform Sterling Overnight Average (SONIA) plus 2% (the benchmark) over the longer term, principally through exploiting the pricing of closed-end funds. The Company intends to achieve this objective by investing primarily in a portfolio of closed-ended investment funds listed on the United Kingdom stock market where the manager has assessed that the share price does not reflect the fair value of the underlying assets. It invests in closed-end investment funds traded on the London Stock Exchangeâs main market but has the flexibility to invest in investment funds listed or dealt on other recognized stock exchanges, in unlisted closed-end funds (including funds traded on AIM) and in open-ended investment funds. Its asset allocation consists of equity, private equity, mining, alternatives, and cash. Premier Fund Managers Limited is the Company's investment manager.
Miton Global Opportunities PLC commences an Equity Buyback Plan for 4,167,967 shares, representing 14.99% of its issued share capital, under the authorization approved on September 24, 2020.