Mid Wynd International Investment Trust plc (the "Company")
Issue of new Ordinary Shares
Further to the announcement on 22 December 2015 of the selection of the Company as the rollover option for the reconstruction and winding up of Drumeldrie Investments Limited ('Drumeldrie') the Company announces that it has today acquired a further £1.0 million of the undertaking and assets of Drumeldrie. These have been acquired in consideration for the allotment of 260,116 of its Ordinary shares of 5 pence each, at a price of 399.96 pence per Ordinary share. The undertaking and assets being transferred are expected to comprise primarily cash and cash equivalent investments. The number of shares to be issued is based on the value of the assets being transferred by Drumeldrie to the Company and the net asset value of shares in the Company as at close of business on 29 September 2016. This acquisition represents the fourth and final transfer of assets from Drumeldrie.
An application has been made to the London Stock Exchange for the admission of the new shares by the Financial Conduct Authority to the premium segment of the Official List and by the London Stock Exchange to trading on its main market. This is expected to become effective, and dealings in the shares are expected to commence at 8.00 am on 6 October 2016. These shares will rank pari passu in all respects with the existing ordinary shares of 5 pence each in the capital of the Company.
Following the issue of the Ordinary shares, the Company's issued share capital will be 30,071,952 Ordinary shares with no shares being held in treasury. Therefore the total number of Ordinary shares with voting rights in the Company is 30,071,952.
Total voting rights
The above figure (30,071,952) 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 Financial Conduct Authority's Disclosure and Transparency Rules.
For further information, please contact:
Artemis Fund Managers Limited
Telephone: 0131 225 7300
30 September 2016
This information is provided by RNS