Result of Fundraise

RNS Number : 3175T

Nippon Active Value Fund PLC

23 November 2021

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION .

UNLESS THE CONTEXT REQUIRES OTHERWISE, WORDS AND EXPRESSIONS DEFINED IN THE PROSPECTUS PUBLISHED BY THE COMPANY ON 28 OCTOBER 2021 HAVE THE SAME MEANINGS WHEN USED IN THIS ANNOUNCEMENT.

  23 November 2021

Nippon Active Value Fund plc

(the "Company")

Result of Fundraise

Key highlights:

· Issue price of 139.70 pence per Ordinary Share.

· Gross proceeds of £14 million raised  from the issue of 10,021,432 new Ordinary Shares at 139.70 pence per Ordinary Share pursuant to the Initial Placing, the Offer for Subscription, and the PrimaryBid Offer announced on 15 November 2021 (together the "Issue").

Issue Price

Further to the announcement on 15 November 2021 regarding the structure of the Issue, the Company now confirms that the new Ordinary Shares to be issued will be issued at a price of 139.70p per Ordinary Share, representing a c.1.5% premium to the NAV per Ordinary Share as at close of business on 22 November 2021.

Results of Initial Issue

The Company is also pleased to announce that demand has been received for 10,021,432 new Ordinary Shares pursuant to the Issue. 10,021,432 new Ordinary Shares will therefore be issued at 139.70 pence per Ordinary Share to certain institutional and other investors pursuant to the Issue, raising gross proceeds of approximately £14 million.

An application has been made to the London Stock Exchange for the 10,021,432 new Ordinary Shares issued pursuant to the Issue to be admitted to trading ("Admission"). Admission is expected to become effective, and dealings in the new Ordinary Shares are expected to commence, at 8.00 a.m. on 26 November 2021. Following Admission, the new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares.

On Admission, the Company's issued share capital will comprise 113,021,433 Ordinary Shares, none of which will be held in treasury. Each Ordinary Share carries the right to one vote and, therefore, the total number of voting rights in the Company on Admission will be 113,021,433. This figure may be used by Shareholders and other investors 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 FCA's Disclosure Guidance and Transparency Rules.

The Legal Entity Identifier of the Company is 213800JOFEGZJYS21P75.

Enquiries:

Shore Capital Robert Finlay / Rose Ramsden (Corporate) Adam Gill / Matthew Kinkead (Sales) Henry Willcocks / Fiona Conroy (Corporate Broking)	020 7408 4050
PraxisIFM Fund Services (UK) Limited Tom Daish / Sylvanus Cofie	020 4513 9260
Media Enquiries Alex Gorokhov	020 3040 0892

 

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