Subscription Price & Subscription Shares Allotment

RNS Number : 2902P

CC Japan Income & Growth Trust PLC

16 February 2021

 

16 February 2021

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA   OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA

CC Japan Income & Growth Trust plc

 Subscription Price and Allotment of Subscription Shares

Subscription Price

In connection with the Bonus Issue of Subscription Shares to the Company's existing shareholders as detailed in the prospectus published by the Company on 22 January 2021 (the "Prospectus"), which was approved by Shareholders at the General Meeting held on 15 February 2021, the Board of Directors hereby announces the Subscription Price. Pursuant to the terms of the Bonus Issue as described in the Prospectus, the Subscription Price of the Subscription Shares is calculated as the unaudited published NAV per Ordinary Share (cum-income) as at close of business on 15 February 2021, plus a 1% premium to such NAV per Ordinary Share (cum-income), rounded up to the nearest whole penny. Accordingly, the Subscription Price payable on exercise of each Subscription Share has been calculated to be 161 pence.

Allotment of Subscription Shares

The Board has today allotted 26,946,122 Subscription Shares to Qualifying Shareholders whose names are entered on the register of members of the Company at 6.00 p.m. on 15 February 2021 (the "Record Date") pursuant to the terms of the Bonus Issue.  Application has been made for the admission of the Subscription Shares to the standard segment of the Official List and to trading on the main market of the London Stock Exchange. Dealings are expected to commence at 8.00 a.m. on 18 February 2021. Shareholders should note that, whilst the Record Date for the Bonus Issue was 6.00 p.m. on 15 February 2021, the ex-date for the Bonus Issue will be 18 February 2021 (the "Ex-Date"). Unless the counterparties specifically agree otherwise, a buyer of the Company's Ordinary Shares ahead of the Ex-Date will assume the benefit to the Subscription Shares, and the seller would need to pass the benefit to the buyer, even if the seller is the registered holder of such Ordinary Shares at the Record Date. Following admission of the Subscription Shares there will be 134,730,610 Ordinary Shares and 26,946,122 Subscription Shares in issue.

No Ordinary shares are held in treasury.

The dealing codes for the Subscription Shares will be as follows:

ISIN: GB00BM90B010

SEDOL: BM90B01

Ticker: CCJS

Capitalised terms used in this announcement shall have the same meaning ascribed to them in the Prospectus.

This announcement has been released on behalf of the Company by order of the Board.

The Company's LEI is: 549300FZANMYIORK1K98

Enquiries: 

Praxis IFM Fund Services (UK) Limited
Brian Smith / Ciara McKillop 020 4513 9260 Peel Hunt LLP Luke Simpson / Liz Yong / Tom Pocock 020 7418 8900

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.  This announcement is not an offer of securities for sale into the United States.  The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

 

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