NAV and revised Initial Placing and Offers Price

RNS Number : 3386H

Mid Wynd Inter Inv Trust PLC

06 June 2017

 

To:        RNS

From:    Mid Wynd International Investment Trust PLC

Date:    6 June 2017

Mid Wynd International Investment Trust PLC

Miscalculation of Net Asset Value

The Company has identified that, since the interim dividend ex date on 25 May 2017, the interim dividend of 2.92 pence per Ordinary Share has not been accrued in the Net Asset Value as it should have been and the Net Asset Value per Ordinary Share has therefore been misstated.

This has now been corrected and as at close of business on 5 June 2017 the Net Asset Value per Ordinary Share was:

Net Asset Value per Ordinary Share	excluding current year income	443.63p
	including current year income	443.78p

Issue of New Shares

Based on the revised Net Asset Value per Ordinary Share as at 30 May 2017 the issue price of the New Shares issued under the Initial Placing and Offers (being a 2 per cent. premium to the Net Asset Value per Ordinary Share as at 30 May 2017) as announced on 31 May 2017 should have been 448.51 pence per New Share (the original issue price was calculated at 451.49 pence). The Company is therefore arranging for additional New Shares to be issued to investors who received New Shares in the Initial Placing and Offers in order to reflect this. Application has therefore been made for 8,435 New Shares to be admitted to the Official List and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will become effective and dealings in such New Shares will commence on 9 June 2017.

Following Admission the Company expects to have 32,531,416 Ordinary Shares in issue. The total number of voting rights of the Company will be 32,531,416 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Transparency Rules.

For further information please contact

Artemis Fund Managers Limited                   [phone]

Billy Aitken

J.P. Morgan Cazenove (Corporate Broker)       [phone]

William Simmonds

Anne Ross

Oliver Kenyon

Defined terms used in this announcement have the same meanings given in the Prospectus unless the context otherwise requires.  

This announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by, J.P. Morgan Cazenove or by any of its respective affiliates or agents as to or in relation to the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or their advisers and any liability therefore is expressly disclaimed.

J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and is acting exclusively for the Company and no-one else in connection with the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove nor for providing advice in connection with the Placing and the contents of this announcement or any other matter referred to herein.

 

END

 

 

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