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Downing Strategic Micro-Cap Investment Trust PLC

Shareholder information

The Trust seeks to provide investors with long-term capital growth through a concentrated portfolio of 12-18 UK listed companies that typically have a market capitalisation of below £150 million (at the time of investment). We define these as micro-caps. The Trust intends to take an influential, strategic position (a 3% - 25% equity stake) in each underlying business.

As announced by the London Stock Exchange on 3 May 2017, the Trust has raised approximately £54.5 million (net), and shares began trading on 9 May 2017.

Prices and NAVs

Starting NAV  98.04p (as at 9 May 2017).

Share typeShare price dateShare price
Ordinary shares16 June 2017102.5p

 

Share codes and trading information

Share classISINSEDOL
Ordinary sharesGB00BF0SCX52BF0SCX5

Report and accounts

The company’s annual financial statements will be prepared to 28 February in each year and the company’s annual financial statements will typically be sent to shareholders within four months of its financial year end. 

The company also publishes an unaudited interim report covering the six months to 31 August each year, typically within two months of that date. 

The first annual report will be prepared to 28 February 2018.

Board of Directors

The Company will hold its first annual general meeting in 2018 and will then hold an annual general meeting each year thereafter. Set out below are the members of the Board.

  • Hugh Aldous (Chairman)
  • Andrew Griffiths (Non-executive director)
  • Diana Hunter (Non-executive director)
  • Stephen Yapp (Non-executive director)

Dividends

The Company has no stated dividend target. No dividends have been declared or paid to date.

Further information

Literature

 

Investment manager:
Downing LLP
Ergon House, Horseferry Road
London SW1P 2AL

 

Administrator:
Maitland Administration Services Ltd
Springfield Lodge, Colchester Road
Essex CM2 5PW

 

Registrars:
Computershare Investor Services PLC
The Pavilions
Bridgewater Road
Bristol BS99 6ZZ

 

Auditors:
Grant Thornton UK LLP
30 Finsbury Square
London EC2P 2YU

Important Notice

Investing in our products will place your capital at risk and you may not get back the full amount invested. Any tax treatment may be subject to change and the availability and value of the reliefs depend on the individual circumstances of each investor. The availability of tax reliefs also depends on the investee companies maintaining their qualifying status.

Further information can be found at HMRC’s website. Neither past performance or forecasts are reliable indicators of future results and should not be relied upon. Unquoted or smaller company shares are likely to have higher price fluctuations and are likely to be more difficult to sell than shares quoted on the London Stock Exchange Official List. Website content is not intended to constitute investment, tax or legal advice. We recommend you seek independent advice before investing in any of our products.

Important Notice

Downing’s investments place your capital at risk and you may not get back the full amount invested. Past performance and forecasts are not a reliable guide to future results. Tax treatment may be subject to change and depends on individual circumstances. Smaller company shares are likely to have higher volatility and liquidity risks than other types of main market listed instruments. We recommend that you seek professional independent financial advice before investing. We do not offer investment or tax advice.

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