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
The Enterprise Investment Scheme : a case study
An example of how even straightforward EIS funding arrangements require professional advice to navigate and solve complexities.
Public Company Update - November 2017
Welcome to the November edition of our biannual Public Company Update.