Charles Russell Speechlys act as the legal adviser to Mithras Investment Trust plc on its fourth tender offer
Charles Russell Speechlys’ Advisory team recently acted as the legal adviser to Mithras Investment Trust plc (the “Company”) on its fourth tender offer, which was announced to shareholders on 19 May 2015.
The fourth tender offer follows on from the Company’s announcement in December 2012 that it intended to enter into a series of tender offers to achieve its core realisation strategy of returning capital to shareholders.
Should the shareholders all tender their basic entitlement, the Company would distribute approximately £6.1 million to shareholders through the fourth tender offer.
To date, the Company has returned approximately £19. 7 million of capital to shareholders through its first three tender offers. The third tender offer took place in 2014, with the second and initial tender offers both taking place in 2013.
The tender offers follow the Company’s successful Court application for a £8.6 million reduction of capital on 23 May 2013 by way of a cancellation of the Company’s share premium account.
The Charles Russell Speechlys team advising on these transactions was led by Partner Andrew Collins and included Corporate Associate Lucy Scott and Financial Services Associate James Griffiths. Winterflood Securities (Joe Winkley and Neil Langford) also acted for the Company.
News & Insights
Could your esports business benefit from the Government’s new Future Fund?
Esports is an increasingly competitive industry not just in the UK but on a global scale - could it benefit from the new Future Fund?
Supreme Court decides that reflective loss rule does not bar claims made by unsecured creditors
A review of the recent Supreme Court judgment which significantly narrowed the scope of the rule against recovery of reflective loss.
Charles Russell Speechlys advises LiDCO Group plc on its £30m share premium account cancellation
LiDCO, a UK-based group manufactures and supplies invasive, minimally and non-invasive hemodynamic monitoring equipment.