Result of Placing and Total Voting Rights

RNS Number : 1441P

AVI Japan Opportunity Trust PLC

15 February 2021

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA , CANADA , THE REPUBLIC OF SOUTH AFRICA , JAPAN OR ANY MEMBER STATE OF THE EEA OR ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL . FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.  

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

AVI Japan Opportunity Trust plc ("AJOT" or the "Company")

RESULT OF PLACING AND TOTAL VOTING RIGHTS

LEI: 894500IJ5QQD7FPT3J73

Further to the announcement on 18 January 2021, the Board of Directors of AVI Japan Opportunity Trust plc (the "Board") announces that the Company has raised gross proceeds of approximately £13.9 million through the issue of 12,107,323 new ordinary shares of £0.01 each ("New Ordinary Shares") in the capital of the Company (the "Placing"). The price per New Ordinary Share was 115.07 pence (the "Placing Price"). The Placing Price is equivalent to a 2 per cent. premium to the unaudited net asset value per ordinary share at close of business on 12 February 2021.

The net proceeds of the Placing will be used to fund further investments in accordance with the Company's investment objective and policy.

Applications will be made in respect of the 12,107,323 New Ordinary Shares issued pursuant to the Placing to be admitted to the premium segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 17 February 2021. When issued, the New Ordinary Shares will rank pari passu with the existing ordinary shares.

Following Admission, the Company expects to have 129,597,065 ordinary shares in issue. The total number of voting rights of the Company will be 129,597,065 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

For further information, please contact:

Asset Value Investors Joe Bauernfreund	Tel: [phone]
N+1 Singer James Maxwell / Justin McKeegan / James Fischer (Investment Banking) Alan Geeves / James Waterlow / Sam Greatrex (Sales)	Tel: [phone]
Quill PR Fiona Harris / Sarah Gibbons-Cook	Tel: [phone]

Important Notice

Nplus1 Singer Advisory LLP ("N+1 Singer"), is authorised and regulated by the Financial Conduct Authority in the United Kingdom, and is acting only for the Company in connection with the matters described in this announcement and are not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of each of them or advice to any other person in relation to the matters contained herein. N+1 Singer, nor any of its or their respective affiliates, members, officers, directors, employees, advisers or agents accepts any responsibility or liability whatsoever for this announcement, its contents or otherwise in connection with it or any other information relating to the Company, whether written, oral or in a visual or electronic format.

The securities to which this announcement relates have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any regulating authority or under any applicable securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, pledged or otherwise transferred within the United States or to US persons unless registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable state law. There will be no public offer of the securities in the United States. The securities referred to herein have not been registered under the applicable securities laws of Australia, Canada, South Africa or Japan and, subject to certain exceptions, may not be offered or sold within Australia, Canada, South Africa or Japan or to any national, resident or citizen of Australia, Canada, South Africa or Japan.

 

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