Result of Placing

RNS Number : 6951P

CC Japan Income & Growth Trust PLC

12 February 2019

 

12 February 2019

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, 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 TO 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 OR TO PROFESSIONAL INVESTORS IN THE REPUBLIC OF IRELAND)

CC Japan Income & Growth Trust plc

Result of Placing

Further to its announcement on 4 February 2019, the Board of Directors (the "Directors") of CC Japan Income & Growth Trust plc (the "Company") is pleased to announce that the Company has raised gross proceeds of approximately £7.6 million pursuant to the placing of new ordinary shares ("Ordinary Shares") in the Company (the "Placing"). Applications have been received under the Placing for 5,528,829 Ordinary Shares, which will be issued at the Placing Price of 138.3 pence per Ordinary Share.

Applications have been made for admission of the Ordinary Shares to 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 14 February 2019.

Following the Placing, the Company's issued share capital will comprise 134,730,610 Ordinary Shares and this is the total number of Ordinary Shares with voting rights in the Company. This figure (134,730,610) 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 under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Rathbone Brothers plc, which is deemed to be a related party of the Company for the purposes of the Listing Rules by virtue of its current holding in the Company's issued share capital, has invested £445,796 in the Placing at the same price as all other investors in the Placing.  Pursuant to LR11.1.10R, this investment has been classified as a "smaller related party transaction".

Peel Hunt LLP is acting as broker and book runner to the Company.

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, Liz Yong (Corporate Broking) Mark Thompson, Chris Bunstead (Sales) 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 LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and no-one else in connection with the Placing. Peel Hunt will not regard any other person as its client in relation to the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in relation to the Placing, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

Apart from the responsibilities and liabilities, if any, which may be imposed by the Financial Services and Markets Act 2000, as amended, or the regulatory regime established thereunder, none of the Company, Coupland Cardiff Asset Management LLP (the "Investment Manager") or Peel Hunt, or any of their respective directors, officers, employees, advisers, affiliates or agents, accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or for any loss howsoever arising from any use of the announcement or its contents. The Company, the Investment Manager and Peel Hunt, and their respective directors, officers, employees, advisers, affiliates or agents, accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.

The shares of the Company have not been, and will not be, registered under the US Securities Act of 1933, as amended (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 or to professional investors in Ireland). The Placing 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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