Mid Wynd International Investment Trust Regulatory News (MWY)

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.

This announcement does not constitute an offer to sell, or the solicitation of an offer to subscribe for, or to buy shares in any jurisdiction.

This announcement is an advertisement and not a prospectus. Any investment in any shares referred to in this announcement may be made only on the basis of information in a prospectus published by Mid Wynd International Investment Trust PLC today, in connection with an initial placing, offer for subscription, intermediaries offer and a share issuance programme of ordinary shares of 5 pence each, to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc.

9 May 2017

Mid Wynd International Investment Trust PLC (the "Company")

Issue of up to 31.2 million New Shares

Highlights

· Proposed issue of New Shares by way of an Initial Placing, Offer for Subscription, and Intermediaries Offer to raise up to £100 million

· Proceeds to be invested in accordance with the Company's investment policy, providing the Company with additional capital to take advantage of investment opportunities and enabling the Company to grow

· The Company offers investors the opportunity of long-term capital and income returns with low volatility through investment in a global portfolio of international quoted equities.

Initial Placing and Offers

The Board of Mid Wynd International Investment Trust PLC today announces a proposal to issue New Shares by way of an Initial Placing, Offer for Subscription and Intermediaries Offer (the "Initial Placing and Offers").

The Initial Placing and Offers Price will be calculated by applying a premium of 2 per cent. to the Net Asset Value per Ordinary Share as at close of business on 30 May 2017. The Initial Placing and Offers Price will be announced through a Regulatory Information Service on 31 May 2017. For illustrative purposes only, a price of 441.75p would be derived by applying a premium of 2 per cent. to the Net Asset Value per Ordinary Share as at 4 May 2017.

Share Issuance Programme

Following the close of the Initial Placing and Offers, the Directors are also proposing to introduce a Share Issuance Programme for up to 31,241,952 New Shares less the number of New Shares issued under the Initial Placing and Offers. The Share Issuance Programme will allow the Directors to continue to make periodic issues of New Shares over the next 12 months to manage supply and demand for the Ordinary Shares. If there is sufficient demand the Directors may consider carrying out larger placings under the Share Issuance Programme. Full details of each such placing would be announced at the relevant time. The Directors will apply the net proceeds of the Issues in accordance with the Company's investment policy.

The Share Issuance Programme Price will be determined by the Board, in consultation with J.P. Morgan Cazenove, at the time of each such Issue. It is expected that the Share Issuance Programme Price will be at or around the market price of an Ordinary Share as at the time of such Issue and will be at a level of premium to the Net Asset Value per Ordinary Share (which shall include a premium to cover commissions and expenses associated with such issue) such that no Issue is expected to be dilutive to the Net Asset Value per Ordinary Share.

Reasons for the Issues

The shares of individual investment trusts can trade at a discount to net asset value but may also trade at a premium to net asset value. This can put those investing regularly at a disadvantage because they may find themselves buying shares at a sizeable premium which almost certainly will not be sustained and which will therefore have an adverse effect on the return from their investment.

The Company seeks the power to issue Ordinary Shares when demand exceeds supply and buyback Ordinary Shares when supply exceeds demand, and the Directors consider it appropriate.

Since May 2015 the Ordinary Shares have typically traded at a premium to NAV. In the light of the prolonged period in which the Ordinary Shares have traded at such a premium, the Issues have been proposed by the Directors to increase the size of the Company and are expected to provide the following benefits.

· Provide the Company with additional capital to take advantage of investment opportunities.

· Maintain the Company's ability to issue Ordinary Shares and enable the Company to better manage the premium to NAV at which the Ordinary Shares may trade.

· Diversify the Company's Shareholder register, potentially enhancing secondary market liquidity in the Ordinary Shares

· Establish a greater capital base over which fixed operating costs can be spread, thereby reducing the Ongoing Charges Ratio for Shareholders.

Investment highlights

· The Company offers investors the opportunity of long-term capital and income returns with low volatility through investment in a global portfolio of international quoted equities.

· The Company is not constrained by a formal benchmark and targets long-term growth while aiming to protect capital in more challenging markets.

· Over the three years to 30 April 2017 the Company's NAV total return was 62.8 per cent, which compares to a total return of 52.3 per cent for the MSCI All Country World Index (the "Index"). Over the same period, measured monthly against the Index, the Company has a track record of 52 per cent. outperformance in rising markets and 72 per cent. outperformance in falling markets.

· The Portfolio Manager seeks to identify high quality companies with proven profitability and high levels of cash generation that have strong and sustainable barriers to entry in their markets, with strong balance sheets and cashflows, which the Portfolio Manager believes are best positioned to benefit from long-term growth trends regardless of the economic cycle.

· Both the Board and key personal at the Portfolio Manager have material investments in the Company, aligning their interests with the interests of investors.

Dividend

The Company announces a second interim dividend of 2.92p per Ordinary Share in respect of the period between 1 January 2017 and 31 May 2017. The dividend will be paid on 23 June 2017 to shareholders on the register as at 26 May 2017. The ex-dividend date will be 25 May 2017.

It is expected that the Company will declare a final dividend for the period between 1 June 2017 and 30 June 2017 in due course.

Expected timetable

The dates set out in the expected timetable above may be adjusted by the Company, in which event details of the new dates will be notified to the UK Listing Authority and the London Stock Exchange and an announcement will be made through a Regulation Information Service. All references to time in this announcement are to London time.

For further information, please contact

Artemis Fund Managers Limited +44 (0)131 225 7300

Billy Aitken

J.P. Morgan Cazenove (Sole Bookrunner) +44 (0)20 7742 4000

William Simmonds

Anne Ross

Oliver Kenyon

Solid Solutions (Intermediaries Offer Adviser) +44 (0)20 7549 1613

Nigel Morris intermediaries@solid-solutions.co.uk

This announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by, J.P. Morgan Cazenove or by any of its respective affiliates or agents as to or in relation to the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or their advisers and any liability therefore is expressly disclaimed.

J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and is acting exclusively for the Company and no-one else in connection with the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove nor for providing advice in connection with the Placing and the contents of this announcement or any other matter referred to herein.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.