Quantcast NAV | Downing Strategic Micro

NAV

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 £54.5 million (net), and shares began trading on 9 May 2017. The initial NAV was 98.04p per share.

Share type Share price Share price date
Ordinary Shares 91.2p 01 May 2018

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 first annual report will be prepared to 28 February 2018.

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

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)
  • Linda Bell (Non-executive director)
  • Stephen Yapp (Non-executive director)
  • Robert Legget (Non-executive director)

Dividends

The Company does not have a dividend target. The Company is proposing a modest dividend of 1.25p per share for the year. This is subject to approval by shareholders at the annual general meeting. The dividend will be paid to shareholders on 5 July 2019 to shareholders on the register at 24 May 2019 (ex-dividend date 23 May 2019).

Further information

 

Investment manager:

Downing LLP
St Magnus House, 3 Lower Thames Street
London EC3R 6HD
 

Administrator:
Maitland Administration Services Ltd
The Hamilton Centre, Rodney Way
Chelmsford
Essex CM1 3BY
United Kingdom

 

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

 

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

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