Manchester&lon. Regulatory News (MNL)

Manchester & London Investment Trust PlcDividend Declaration Following our announcement dated 5th June 2014, which is partly reproducedbelow, it is possible that under the lower leverage conditions we have chosento adopt to comply with the partial exemption, sub threshold regulations withinthe AIFM directive, Manchester & London Investment Trust plc ( the "Company")may have less capital with which to generate trading income. The Company's income is comprised of both (1) dividend income from investments(considered ordinary investment income) and (2) income from trading activitywhich includes gains and losses on the trading of shares, options, futures andcontracts for differences, net of commissions, interest and other costsexpensed (considered trading income or special income). In the future, theBoard has decided to pay ordinary dividends from the income from the moreconsistent dividend income from investments less our corporate expenses and, ifallowing, special dividends from any surplus trading income generated. TheBoard believes this split makes the nature of the dividends received byshareholders more transparent. With our year end of the 31st July 2014 approaching, we estimate that ouraggregate ordinary and special dividends for the year will be in the region of13.75p, with the 5.5p already paid as the interim dividend being treated as anordinary dividend. The special dividend which may become payable for the 2013/2014 financial year is estimated to be in the region of 6.4p. It should benoted that all of the above figures are purely estimates and are not finalised,nor audited. Nonetheless, the Board has decided to announce an interim specialdividend of 5p, with the following calendar details: Ex-dividend date: Wednesday 6th August 2014 Record date: Friday 8th August 2014 Payment date: Friday 22nd August 2014 We anticipate the final dividend for the 2013/2014 financial year to be paidafter the AGM later in the fourth quarter of this calendar year (2013: paid 6thDecember 2013). However, final details of the dividends for the year to 31stJuly 2014, which may differ from the foregoing, will be announced in due coursewhen the accounts have been finalised. Relevant text from announcement released on 5th June 2014: "AIFMD approaches so we have slimmed down our gross assets to fit below theEuro 100m threshold. This reduction in exposure will reduce our tradingactivity and hence it is very likely to affect the level of dividends paid outfor future financial periods. Nonetheless, we will strive to do our very bestto overcome the roadblocks that the EU seems intent on presenting to us." Notes from Wikipedia: The Alternative Investment Fund Managers Directive 2011/61/EU ("AIFMD") is aEuropean Union Directive that entered into force on 22th July 2013. The Directiveregulates:  EU fund managers that manage alternative investment funds(essentially hedge funds and private equity funds) ("AIFs") (wherever they arebased);  fund managers (wherever they are based) that manage AIFs establishedin the EU ; and  fund managers (wherever they are based) that market the units orshares of an AIF in the EU . Enquiries:Manchester & London Investment Trust plc.Michael Kurt CampTel: 0161 228 1709 Midas Investment Management Limited (Investment Manager to MNL).Mark SheppardTel: 0161 242 2895