Result of Equity Issue

RNS Number : 8581C

CC Japan Income & Growth Trust PLC

25 January 2018

 

25 January 2018

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL. PLEASE SEE THE SECTION ENTITLED "DISCLAIMER" TOWARDS THE END OF THIS ANNOUNCEMENT.

This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase, investments of any description, or a recommendation regarding the issue or the provision of investment advice by any party. No information set out in this announcement is intended to form the basis of any contract of sale, investment decision or any decision to purchase shares in the Company.

CC Japan Income & Growth Trust plc

Issue of Equity

CC Japan Income & Growth Trust plc (the "Company") is pleased to announce that it has raised gross proceeds of approximately £32.9m pursuant to a Placing, Offer for Subscription and Intermediaries Offer (the "Initial Issue") of ordinary shares of £0.01 each (the "Ordinary Shares"), as detailed in its prospectus dated 9 January 2018 and supplementary prospectus dated 19 January 2018 (together, the "Prospectus").

A total of 19,986,048 Ordinary Shares will be issued pursuant to the Initial Issue. Of these, 10,257,778 Ordinary Shares will be issued under the Placing, 3,376,103 Ordinary Shares will be issued under the Offer for Subscription and 6,352,167 Ordinary Shares will be issued under the Intermediaries Offer. The Issue Price is 164.50 pence per Ordinary Share.

Application has been made for the admission of the Ordinary Shares to the premium segment of the Official List of the UK Listing Authority and to trading on the premium segment of the London Stock Exchange plc's main market for listed securities ("Admission"). Admission is expected to occur at 8.00 a.m. on 29 January 2018 and the Ordinary Shares will trade under the ticker CCJI (ISIN: GB00BYSRMH16).

Following the Initial Issue, the Company's issued share capital will comprise 109,154,210 Ordinary Shares and this is the total number of Ordinary Shares with voting rights in the Company. This figure (109,154,210) should 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 under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Peel Hunt LLP is acting as sole sponsor, broker, placing agent and intermediaries offer adviser to the Company.

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Prospectus.

The Company's LEI is: 549300FZANMYIORK1K98

For further information please contact:

Coupland Cardiff Asset Management LLP Richard Cardiff Telephone: [phone] Peel Hunt LLP Luke Simpson (Corporate Broking) Helen Rennardson Mark Thompson (Sales) Chris Bunstead Ben Nott Kathy Boate (Intermediaries) Sohail Akbar Telephone: [phone] Cornerstone Communications - Financial PR Ben Larter Telephone: [phone]

Disclaimer

This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase investments of any description or a recommendation regarding the issue or the provision of investment advice by any party. No information set out in this announcement is intended to form the basis of any contract of sale, investment decision or any decision to purchase shares in the Company.

Peel Hunt, which is authorised and regulated by the Financial Conduct Authority, is acting for the Company only in connection with the matters described in this announcement and is 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 Peel Hunt or advice to any other person in relation to the matters contained herein.

The shares of the Company have not been, and will not be, registered under the Securities Act or under the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold into or within the United States absent registration, except pursuant to an applicable exemption from, or in a transaction that is not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of any relevant state or other jurisdiction of the United States. Moreover, the shares of the Company have not been, nor will they be, registered under the applicable securities laws of Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom). Further, the Company is not, and will not be, registered under the US Investment Company Act of 1940, as amended. The shares of the Company will be offered outside of the United States pursuant to the provisions of Regulation S of the Securities Act. Subject to certain exceptions, the shares of the Company may not be offered or sold in the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom) or to, or for the account or benefit of, any national, resident or citizen of the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom). The Share Issuance Programme (including the Initial Issue), and the distribution of this announcement, in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

The value of shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements.  When you sell your investment you may get back less than you originally invested. Figures refer to past performance and past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.

 

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