TIDMAJIA TIDMAJIB
RNS Number : 6753P
abrdn Japan Investment Trust plc
10 October 2023
10 October 2023
LEI: 5493007LN438OBLNLM64
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FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO, THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION
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constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
ABRDN JAPAN INVESTMENT TRUST PLC (the "Company" or "AJIT")
Results of Second General Meeting, Suspension and Cancellation
of Reclassified Shares and Scheme Entitlements
Results of Second General Meeting
In connection with the proposals for a combination of the assets
of abrdn Japan Investment Trust (the "Company") with Nippon Active
Value Fund ("NAVF") by means of a scheme of reconstruction and
winding up of the Company under section 110 of the Insolvency Act
1986 (the "Scheme"), the Board is pleased to announce that the
special resolution to place the Company into members' voluntary
liquidation was approved by the Company's shareholders at the
General Meeting held earlier today and Gareth Morris and Andrew
Sheridan of FRP Advisory Trading Limited have been appointed as
joint liquidators of the Company.
Details of the number of proxy votes cast for, against and
withheld in respect of the resolution are set out below and will
also be published on the Company's website:
https://www.abrdnjapan.co.uk/en-gb .
Special Resolution Votes For % Votes % Votes Votes
(including Against Total Withheld
Discretionary)
To appoint the Liquidators,
place the Company
into members' voluntary
liquidation in accordance
with the Scheme
and grant the Liquidators
certain powers. 4,647,342 99.82 8,592 0.18 4,655,934 1,926
---------------- ------ --------- ----- ---------- ----------
The full text of the special resolution can be found in the
notice of Second General Meeting contained in the Company's
circular to Shareholders dated 1 September 2023 (the "Circular").
The Circular is available for viewing at the National Storage
Mechanism which can be located at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the
Company's website at https://www.abrdnjapan.co.uk/en-gb .
Suspension and Cancellation of Reclassified Shares
As set out in the Circular, the Reclassified Shares were
suspended from listing on the Official List of the Financial
Conduct Authority at 7.30 a.m. this morning, 10 October 2023, in
anticipation of the Second General Meeting.
The Company, through its advisers, has notified the London Stock
Exchange of the Company's intention to cancel the Company's
admission of the ordinary shares to trading at 8:00 a.m. on 12
October 2023. Application has been made to the Financial Conduct
Authority for the cancellation of the listing of the Reclassified
Shares, such cancellation to take effect from 8.00 a.m. on 12
October 2023.
Scheme Entitlements
As at the calculation date the scheme entitlements calculated in
accordance with the terms of the Scheme were as follows:
- AJIT FAV per Share: 660.641809 pence
- Cash NAV per Share: 647.494707 pence
- NAVF FAV per Share: 155.483788 pence
Therefore, shareholders will receive the cash and/or number of
NAVF shares stipulated below.
For shareholders that elected for the cash option:
- each share with "B" rights attached to it will receive
647.494707 pence in cash.
For Shareholders that elected (or are deemed to have elected) to
receive NAVF shares:
- each share with "A" rights attached to it will roll over into
approximately 4.248943 NAVF shares.
As noted in the Circular, the Directors have set aside
sufficient assets in the Liquidation Pool to meet all estimated
liabilities and contingencies, including the costs of the winding
up of the Company and the costs of implementing the Scheme. The
Directors have also provided in the Liquidation Pool for a
retention of GBP100,000 (equivalent to 0.8 pence per Ordinary
Share) which they, together with the Liquidators, consider
sufficient to meet any unknown or unascertained liabilities of the
Company.
The Liquidation Pool will be applied by the Liquidators in
discharging all current and future actual and contingent
liabilities of the Company. Any balance remaining after discharging
such liabilities from the Liquidation Pool will in due course be
distributed to Shareholders on the Register on the Calculation Date
pro rata to their respective holdings of Ordinary Shares in
accordance with the terms of the Scheme.
Following the appointment of the joint liquidators, all further
enquiries regarding the Company should be made to the joint
liquidators, whose contact details are below.
In accordance with the Circular, Shareholders who elected, or
were deemed to have elected, for the Rollover Option will receive
their new NAVF Shares via CREST on 11 October 2023 or, in relation
to certificated shareholders, the week commencing 16 October 2023.
Shareholders who elected, or were deemed to have elected, for the
Cash Option are expected to receive their entitlements in the week
commencing 16 October 2023 via CREST and/or cheque.
Defined terms used in this announcement have the meanings given
in the Circular unless the context otherwise requires.
Defined terms used in this announcement have the meanings given
in the Circular.
Enquiries:
Joint Liquidators Gareth Morris and Andrew T: 0117 203 3700
Sheridan Email: bristol@frpadvisory.com
-
Shore Capital Robert Finlay/Rose Ramsden/Angus T: 020 7408 4090
Murphy (Corporate Advisory)
Fiona Conroy (Corporate
Broking)
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END
ROMGPGGCUUPWGCU
(END) Dow Jones Newswires
October 10, 2023 10:43 ET (14:43 GMT)
Abrdn Japan Investment (LSE:AJIA)
過去 株価チャート
から 11 2024 まで 12 2024
Abrdn Japan Investment (LSE:AJIA)
過去 株価チャート
から 12 2023 まで 12 2024
