Mithras Investment Trust PLC Interim Management Statement (1218M)
26 April 2018 - 12:14AM
UK Regulatory
TIDMMTH
RNS Number : 1218M
Mithras Investment Trust PLC
25 April 2018
Mithras Investment Trust PLC (the "Company")
Company No: 2478424
Interim Management Statement (Unaudited)
For the three months ended 31 March 2018
The Company has prepared this Interim Management
Statement ("IMS") voluntarily and it covers the
three months ended 31 March 2018.
Objective and Investment Policy
The Company's investment objective, approved
by shareholders in January 2009, is to follow
a realisation strategy which aims to crystallise
value for shareholders in a manner which seeks
to achieve a balance between returning cash to
shareholders promptly and maximising the value
of the Company's portfolio.
In December 2012, the Board announced that the
core strategy of returning capital to shareholders
would be achieved through a series of tender
offers.
The Company's investment portfolio consists of
a commitment to Mithras Capital Fund LP ("MCF"),
which is invested in European and United States
based limited partnership buyout funds.
Financial Position and Performance Summary
% change
At 31 March At 31 December to previous
2018 2017 period
Net Asset Value per
Ordinary 2p share
(pence) 255.0 255.5 (0.2)
Mid market quoted
share price (pence) 250.0 222.0 12.6
Discount (%) 1.9 13.1 (11.2)
FTSE All-Share Index 6,766.2 7,265.7 (6.9)
Material Events and Transactions
In the three months ended 31 March 2018, the Company
received gross distributions totalling GBP1.5 million
with GBP0.1 million being retained by MCF to meet
ongoing obligations. These distributions principally
comprised proceeds from PAI Europe V's disposal
of Kiloutou and OCM POF IV's disposal of Cyanco.
As at 31 March 2018, the Company's maximum outstanding
commitment to MCF was GBP3.0 million. However,
the Company does not expect this amount to be fully
drawn and the current expectation is that up to
GBP0.3 million may be drawn by MCF. The Company's
cash balance at 31 March 2018 was GBP6.0 million.
At the Annual General Meeting ("AGM") on Wednesday,
25 April 2018, shareholders approved a final dividend
of 4.0p per Ordinary 2p share payable on 4 May
2018 to shareholders on the Register of Members
on 2 March 2018.
A copy of the presentation given at the AGM will
shortly be available on the Company's website,
www.mithrasinvestmenttrust.com.
There have been no changes in the Company's share
capital in the quarter under review, which remains
at 6,068,659 Ordinary shares in issue.
A copy of this IMS is available on the Company's website at
www.mithrasinvestmenttrust.com
For further information, please contact:
Mr Bernie Boylan
Mithras Capital Partners LLP
Tel: 020 7872 5651
25 APRIL 2018
This information is provided by RNS
The company news service from the London Stock Exchange
END
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