-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ed99NDUP1BeWV+9NuzdpZUB0TlYidDcNd+0Y/jPbzzOXy3uDWN3Fc0vBiOsPmPpo Kp9O0ZjQATow+cBhkZEEWA== 0000912147-96-000001.txt : 19960522 0000912147-96-000001.hdr.sgml : 19960522 ACCESSION NUMBER: 0000912147-96-000001 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960521 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROYCE OTC MICRO CAP FUND INC CENTRAL INDEX KEY: 0000912147 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133739778 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-08030 FILM NUMBER: 96570475 BUSINESS ADDRESS: STREET 1: C/O MITCHELL HUTCHINS ASSET MANAGEMENT STREET 2: 1414 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2127138392 MAIL ADDRESS: STREET 1: ROYCE OTC MICRO -CAP FUND INC STREET 2: 1285 AVE OF THE AMERICAS 16TH FLR CITY: NEW YORK STATE: NY ZIP: 10019 NSAR-B 1 N-SAR (3.0.A) PAGE 1 000 B000000 12/31/95 000 C000000 2123557311 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0.a 000 J000000 A 001 A000000 ROYCE MICRO-CAP TRUST, INC. 001 B000000 811-8030 001 C000000 2123557311 002 A000000 1414 AVENUE OF THE AMERICAS 002 B000000 NEW YORK 002 C000000 NY 002 D010000 10019 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 007 C010200 2 007 C010300 3 007 C010400 4 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 008 A000001 QUEST ADVISORY CORP. 008 B000001 A 008 C000001 801-8268 008 D010001 NEW YORK 008 D020001 NY 008 D030001 10019 010 A000001 MITCHELL HUTCHINS ASSET MANAGEMENT INC. 010 C010001 NEW YORK 010 C020001 NY 010 C030001 10019 012 A000001 STATE STREET BANK AND TRUST COMPANY 012 B000001 84-00896 012 C010001 N. 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GRANT TITLE COMPLIANCE OFFICER EX-99.1 2 Ernst & Young LLP The Board of Directors and Shareholders Royce Micro-Cap Trust, Inc. In planning and performing our audit of the financial statements of Royce Micro-Cap Trust, Inc. for the year ended December 31, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, not to provide assurance on the internal control structure. The management of Royce Micro-Cap Trust, Inc. is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that it may become inadequate because of changes in conditions or that the effectiveness of the design and operation may deteriorate. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of December 31, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. ERNST & YOUNG LLP February 12, 1996 EX-99.2 3 EXHIBIT (ITEM 77C) ROYCE MICRO-CAP TRUST, INC. FILE NO. 811-8030 At a Special Meeting of Stockholders held on November 28, 1995, Fund stockholders approved changes in the Fund's fundamental investment policies concerning the issuance of senior securities and the borrowing of money and in its fundamental investment policy concerning loans to permit the Fund to lend its portfolio securities, as follows: Votes Votes Cast Votes Proposals Cast For Against Abstained Change in investment 4,877,651 570,886 235,880 policy concerning senior securities and borrowing Change in investment 5,100,759 390,614 193,043 policy concerning portfolio securities lending EX-27 4
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