Net Asset Value(s)

RNS Number : 6891C

Schroder UK Mid & Small Cap Fd PLC

03 September 2008

 



Schroder UK Mid & Small Cap Fund Plc

The Board of Schroder UK Mid & Small Cap Fund plc announces that the unaudited net asset value per share

Date	NAV	Pence
Tuesday 2 September	Excluding Income	231.07
Tuesday 2 September	Cum Income	236.71

As indicated in the Chairman's Statement in the Company's Half-Yearly Report, the Board has been pursuing the potential reclaim of VAT on management fees previously paid to the Company's Investment Manager. While the overall position remains extremely complex, the Board can conservatively estimate at this stage that, following an audit of the Company's records undertaken by the Investment Manager and HM Revenue & Customs, we believe that the Company will be able to recover at least £350,000 (excluding any simple interest) paid on management fees for the period from December 2003, when Schroder Investment Management Limited was appointed as the Company's Investment Manager, to October 2007. As a consequence, an amount of £350,000, representing 0.966 pence per ordinary share, has been incorporated into the net asset value of the Company from Tuesday, 2 September 2008 and is reflected in the net asset value calculation above.

The above disclosure on NAV categorisation is as per the AIC guidance note 'NAVs published via Regulatory Information Service (RIS) Platforms' issued 3 July 2007.

Enquiries :

Schroder UK Mid & Small Cap Fund plc

Schroder Investment Management Limited

Company Secretary  

Surjit Dubb : 020 7658 4542

 

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