MNL Manchester & London Investment Trust Plc

 
TIDMMNL 
 
MANCHESTER AND LONDON INVESTMENT TRUST PLC 
 
(the "Company" or "MLIT") 
 
12 February 2020 
 
 
Subscription and Total Voting Rights 
 
MLIT announces that M&M Investment Company Plc ("MMIC"), a company controlled 
by Mark Sheppard, the owner of M&L Capital Management Limited, the Company&# 
65533;??s Manager, and a controlling shareholder in the Company, 
has today subscribed for 1,250,000 new ordinary shares of 25 pence each 
("Subscription Shares") at 609.5 pence being the price equal to the latest 
reported Net Asset Value ("NAV") ("Subscription"). The consideration paid for 
the Subscription equals GBP7,618,750. 
 
Brett Miller, Director of the Company, said: "We are very pleased to have the 
support of our major shareholder in providing funding at the latest reported 
NAV, which is higher than the current market price. The proceeds of the 
Subscription will provide further investment funds to enable the Company to 
grow, increase liquidity in its shares and spread the fixed costs of the 
Company". 
 
This transaction is deemed to be a smaller related party transaction within the 
definition of Listing Rule 11.1.10R because the percentage ratios are less than 
5% but exceed the 0.25% threshold as set out in LR 11.1.10R(1). 
 
Following the Subscription, Mark Sheppard, via MMIC, will be interested in a 
total of 19,740,165 ordinary shares of 25 pence each ("Ordinary Shares") in 
MLIT, representing 58.3% of the Company's issued share capital, as enlarged by 
the Subscription. The Subscription Shares will rank pari passu with the 
existing Ordinary Shares in issue. 
 
Applications are being made to the UK Listing Authority and the London Stock 
Exchange for the Subscription Shares to be admitted to the Official List and to 
trading on the London Stock Exchange's Main Market for listed securities (the 
"Admission"). The Admission is expected to take effect and dealings in the 
Subscription Shares will commence at 8:00 am (London Time) on 18th February 
2020. 
 
Following Admission, the total number of Ordinary Shares in issue with voting 
rights in the Company will be 33,860,738. This figure may be used by 
shareholders as the denominator for the calculation by which they may determine 
if they are required to notify their interest in, or a change to their interest 
in, the Company under the FCA's Disclosure Guidance and Transparency Rules. 
 
The information contained within this announcement is considered to be inside 
information, for the purposes of Article 7 of EU Market Regulation 596/2014, 
prior to its release. 
 
For enquiries: 
 
Manchester and London Investment Trust PLC                   020 7584 5733 
M&L Capital Management Limited                                          0207 
584 5733 
Beaumont Cornish Limited (Sponsor) 
                       0207 628 3396 
 
LEI: 213800HMBZXULR2EEO10 
 
 
 
END 
 

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