Conversion of Subscription Shares

RNS Number : 8652Q

JPMorgan Japan Smaller Co Tst PLC

02 December 2016

 

JPMorgan Japan Smaller

Companies Trust PLC

(the "Company")

Final Exercise of Subscription Shares

2 December 2016

The Company announces that it is issuing and allotting 5,339,602 ordinary shares of 10p each in the capital of the Company ("Ordinary Shares"), subject to listing.  Such issuance is being made following the exercise of 5,339,602 subscription shares, each of which confers the right to subscribe for one Ordinary Share at a price of 243.0p (the "Exercise Price") per share ("Subscription Shares") in the period to 30 November 2016 (the "Final Exercise Date"). 

In addition, the Company has been informed by the Final Subscription Trustee, appointed pursuant to paragraph 8(h) of Part IV of the prospectus published by the Company in connection with the bonus issue of Subscription Shares dated 14 November 2014 (the "Prospectus"), that it is exercising the 1,689,531 outstanding Subscription Shares on the same terms.

Subscription Shareholders on whose behalf the Trustee has exercised the outstanding Subscription Rights and is selling the resulting Ordinary Shares will receive the net proceeds of such sale after deduction of the Exercise Price of 243.0p together with all associated fees, costs and expenses. Net proceeds should be received by no later than 31 December 2016 provided that aggregate entitlements per holder of under £5.00 shall be retained for the benefit of the Company.

Application has therefore been made for the 7,029,133 new Ordinary Shares arising on the exercise of the Subscription Shares to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 7 December 2016.

Total Voting Rights

Following the issue of the new Ordinary Shares noted above, the Company's issued share capital will be 55,944,560 Ordinary Shares of 10p each, including 524,500 held in Treasury. The total number of voting rights in the Company will therefore be 55,420,060.

The above 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 under the Disclosure Guidelines and Transparency Rules.

Capitalised terms shall have the meanings set out in the Prospectus unless otherwise defined.

Contact for queries:

Rhys Williams

JPMorgan Funds Limited

Telephone: [phone]

 

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