UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): July 17, 2024 (July 15, 2024)
ROYCE
MICRO-CAP TRUST, INC.
(Exact
name of registrant as specified in its charter)
Maryland |
811-08030 |
133739778 |
(State
or other jurisdiction
of incorporation) |
(Commission
File Number) |
(I.R.S.
Employer
Identification No.) |
745 Fifth Avenue |
|
New York, New York |
10151 |
(Address
of principal executive offices) |
(Zip
Code) |
|
|
Registrant’s
telephone number, including area code: (212) 508-4500
(Former
name or former address, if changed since last report)
![](https://www.sec.gov/Archives/edgar/data/912147/000094937724000097/image_004.gif)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-
2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13-4(c))
Securities registered or to be registered pursuant to Section 12(b) of the Act.
Title of each
class |
Trading
Symbol(s)
|
Name of each exchange
on which registered |
Common
Stock |
RMT |
New
York Stock Exchange |
|
|
|
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On
July 15, 2024, Royce Micro-Cap Trust, Inc. issued a press release addressing certain portfolio
management changes.
| Item 9.01 | Financial
Statements and Exhibits. |
(d) Exhibits
Exhibit No. |
Description |
99.1 |
Press Release, dated July 15, 2024 |
|
|
|
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ROYCE MICRO-CAP
TRUST, INC.
By: /s/
Christopher D. Clark
Name: Christopher
D. Clark
Title: President
Date: July 17, 2024
![A white background with a black and white background
Description automatically generated with medium confidence](https://www.sec.gov/Archives/edgar/data/912147/000094937724000097/image_005.gif)
Chuck Royce
to Become Senior Advisor at Royce Investment Partners
Last updated July 15, 2024
Chuck will become a Senior Advisor effective
September 30th, 2024, after completing his transition from day-to-day portfolio management responsibilities.
![A person in a suit and bow tie sitting at a table
Description automatically generated](https://www.sec.gov/Archives/edgar/data/912147/000094937724000097/image_006.gif)
Celebrating his 51st year at Royce Investment Partners,
Chuck Royce will become a Senior Advisor at Royce Investment Partners (“Royce”) effective September 30th, 2024, after completing
his transition from day-to-day portfolio management responsibilities on the remaining funds where he currently serves. Chuck founded the
firm in 1972 with the acquisition of the management company that had the advisory contract for Pennsylvania Mutual Fund (now Royce
Small-Cap Fund ).
Chris Clark , Royce’s Chief Executive Officer
said, “Chuck’s transition is the culmination of a strategic succession plan, at both the executive and investment team levels,
that has been in place for nearly a decade. It has incorporated the addition of investment talent, the establishment of multigenerational
teams on our key Strategies, and substantial collaboration between Chuck and our investment staff to ensure consistency in the application
of our time-tested investment disciplines.”
These plans saw us establish new leadership structures,
including Management and Risk Committees and the promotion of Co- Chief Investment Officers. The firm has also worked diligently
during this period to add investment analysts and portfolio managers.
Chris noted, “It was critical that we develop
our investment teams in a way that maintained and enhanced the substantial domain knowledge and continuity of focus on the small-cap asset
class. I’m pleased to say that Royce now has the largest and most experienced investment team in our history, having added 15 investment
professionals over the last five years, giving the firm our strongest group ever.”
Chuck said, “The timing of this shift reflects
the confidence that Chris and I have in our investment teams and the firm as a whole. I’m extraordinarily proud of what
we’ve accomplished together, especially our long-term investment performance records, and in particular the 50-plus year record
of our flagship, Royce Small-Cap Fund (formerly Royce Pennsylvania Mutual Fund). Because we have been laying the groundwork for
several years to ensure a smooth transition and a promising road ahead, this is the appropriate time for me to step back from my active
involvement in portfolio management.” In his Senior Advisor role, Chuck will continue to mentor our investment teams, engage with
clients, and offer comments on the small-cap market.
Effective after the close of business on July 31st,
2024, Chuck will transition off two funds. On Royce Premier Fund , Lauren Romeo and Steven McBoyle continue as the Fund’s co-lead
portfolio managers, and Andrew Palen remains as assistant portfolio manager. Miles Lewis remains lead portfolio manager on Royce Small-Cap
Total Return Fund , while Joseph Hintz becomes portfolio manager, and Jag Sriram becomes assistant portfolio manager.
Effective after the close of business on September 30th,
2024, Chuck will transition off two more funds. On Royce Small-Cap Fund (formerly Royce Pennsylvania Mutual Fund), Portfolio Managers
Lauren Romeo, Steven McBoyle, Miles Lewis, Jay Kaplan , and Andrew Palen will be joined by Co-Chief Investment Officer, Francis Gannon
.. Also effective after the close of business on September 30th, 2024, Chuck will transition off Royce Dividend Value Fund . Miles Lewis
will become the Fund’s lead portfolio manager, joined by Joseph Hintz as portfolio manager and Jag Sriram as assistant portfolio
manager.
Effective after the close of business on September 30th,
2024, Chuck will also transition off our three closed-end funds: Francis Gannon will join the portfolio management team of Royce Small-Cap
Trust (formerly Royce Value Trust) with Portfolio Managers Lauren Romeo, Steven McBoyle, Andrew Palen, and George Necakov ; Jim Stoeffel
will become lead portfolio manager of Royce Micro-Cap Trust , with Brendan Hartman remaining portfolio manager, and Andrew Palen joining
as assistant portfolio manager; and Steven McBoyle will become portfolio manager of Royce Global Trust .
Important Disclosure
Information
An investor should consider the Fund’s investment
goals, risks, fees and expenses before investing. A prospectus containing this and other information is available at www.royceinvest.com.
Please read the prospectus carefully before investing or sending money. Royce Fund Services, LLC is the distributor of The Royce Fund
and Royce Capital Fund.
© 2024 Royce & Associates, LP, 745 Fifth Avenue,
New York, NY 10151, (800) 221-4268. Royce & Associates, LP, the investment advisor of The Royce Fund and Royce Capital Fund, is a
limited partnership organized under the laws of Delaware. Royce & Associates, LP, primarily conducts its business under the name Royce
Investment Partners. All rights reserved.
Distributor of The Royce Fund and Royce Capital Fund:
Royce Fund Services, LLC, a wholly owned subsidiary of Royce & Associates and a member of FINRA and SIPC . All series of The Royce
Funds are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include
investment objectives, risks, fees, charges, expenses, and other information that you should read and consider carefully before investing.
Royce Value Trust, Royce Micro-Cap Trust, and Royce Global Value Trust are closed-end funds whose shares of common stock trade on the
NYSE. Royce Fund Services, LLC does not serve as a distributor or as an underwriter to or of these Royce closed-end funds. View our Policies
& Procedures , including, among others, our Sarbanes-Oxley Code of Ethics , Privacy Policy , and Proxy Voting Guidelines and Procedures
.. View our Customer Relationship Summary .
Any information, statements, and opinions set forth herein
are general in nature, are not directed to or based on the financial situation or needs of any particular investor, and do not constitute,
and should not be construed as, investment advice, a forecast of future events, a guarantee of future results, or a recommendation with
respect to any particular security or investment strategy. Investors seeking financial advice regarding the appropriateness of investing
in any securities or investment strategies should consult their financial professional.
Royce Micro Cap (NYSE:RMT)
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