Conversion of Subscription Shares

RNS Number : 7073D

JPMorgan Japan Smaller Co Tst PLC

01 April 2014

 



LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

CONVERSION OF SUBSCRIPTION SHARES

JPMorgan Japan Smaller Companies Trust plc announces that today it issued 4,030,780 Ordinary Shares following the exercise of conversion rights by 79 uncertificated holders of Subscription Shares

The shares in issue following this notification are 43,935,029 Ordinary Shares, including 409,500 held in Treasury, and 2,753,767 Subscription Shares of which 6,028 subscription shares held by certificated holders will be converted to ordinary shares on Monday 14th April 2014.  

To the extent holders of Subscription Shares have not elected to exercise their Subscription Share Rights, a trustee will be appointed over the outstanding Subscription Shares. In accordance with the Subscription Share terms, the trustee will decide whether or not to exercise the outstanding Subscription Share Rights within 14 days of today's date, such period expiring at the latest at close of business on 14^th April 2014.

To the extent not exercised by the trustee, the Subscription Share Rights will lapse at close of business on 14^th April 2014 and, subject to shareholder approval at the AGM to be held on 25^th July 2014, all outstanding Subscription Shares will be converted immediately into Deferred Shares and automatically repurchased by the Company for a nominal amount and cancelled. The Company shall not be obliged to issue share certificates to shareholders in respect of the Deferred Shares or account to any holder of Deferred Shares for the repurchase moneys in respect of such Deferred Shares.

1^st April 2014

For further information, please contact:

Rebecca Burtonwood

JPMorgan Asset Management (UK) Limited - Company Secretary

Telephone [phone]

 

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