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Royce Micro-Cap Trust, Inc. Announces Redemption of Its 6.00% Cumulative Preferred Stock (NYSE-RMT.pra)

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of Royce Micro-Cap Trust (NYSE–RMT) has authorized the redemption of all outstanding shares of its 6.00% Cumulative Preferred Stock (NYSE - RMT.pra). The date of the redemption is November 15, 2012, and the redemption price will be equal to the Liquidation Preference of $25.00 per Preferred Share, plus accumulated but unpaid dividends. The Paying Agent for the redemption is Computershare Trust Company, N.A.

On and after the redemption date, the Preferred Shares will no longer be deemed outstanding, dividends will stop accumulating, and all of the rights of the Preferred Stockholders with respect to the redeemed Preferred Shares will cease, except the right to receive the redemption price. A redemption notice will soon be sent to all Preferred Stockholders of record.

The Preferred Shares, which trade on the New York Stock Exchange, are rated ‘aa1’ by Moody’s and had an annual dividend rate of $1. 50 per share. The Preferred Shares were issued on October 16, 2003 at $25.00 per share. They paid distributions on a quarterly basis. Following five years of call protection, on October 16, 2008 the Preferred Shares became callable at any time at the Liquidation Preference of $25.00 per share plus accumulated but unpaid dividends.

Royce Micro-Cap Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock (NYSE-RMT) and Preferred Stock are listed and traded on the New York Stock Exchange. The Fund’s investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalizations up to $750 million.

For more information on The Royce Fundssm, please visit our website, www.roycefunds.com.

Royce Micro-Cap Trust, Inc.
John D. Diederich, 800-348-1414

Source: Royce Micro-Cap Trust, Inc.