CC Japan Income & Growth Trust PLC Subscription Shares - exercise notice (1638O)
27 Enero 2023 - 11:14AM
UK Regulatory
TIDMCCJI
RNS Number : 1638O
CC Japan Income & Growth Trust PLC
27 January 2023
27 January 2023
CC Japan Income & Growth Trust plc
(the "Company")
Subscription Shares - exercise notice
As a reminder, the final exercise date for the Subscription
Shares is the last business day in February 2023, being 28 February
2023 (the "Final Subscription Date").
If holders of Subscription Shares ("Subscription Shareholders")
choose to exercise their Subscription Share Rights on [1] /before
this date, they will acquire one new Ordinary Share at a fixed
price of 161 pence per Ordinary Share for each Subscription Share
Right exercised.
Subscription Shareholders are under no obligation to exercise
their Subscription Share Rights and the Board would like to remind
all Subscription Shareholders of the importance of reviewing the
current market price of Ordinary Shares before deciding to exercise
any Subscription Shares. If in any doubt about the action to be
taken, shareholders should consult a stockbroker or other
independent professional adviser authorised under the Financial
Services and Markets Act 2000.
The Articles provide that, following the Final Subscription
Date, the Company will appoint a trustee to act on behalf of the
Subscription Shareholders (if any) who have not exercised their
Subscription Share Rights by the Final Subscription Date. If, in
the opinion of the trustee, the net proceeds of sale after
deduction of all costs and expenses incurred by, and any fee payble
to, such trustee will exceed the costs of exercising the
Subscription Share Rights, the trustee will exercise the
outstanding Subscription Share Rights (or a proportion of such
rights as the trustee may in its absolute discretion determine)
within 14 days of the Final Subscription Date and sell the Ordinary
Shares resulting from such exercise in the market.
In these circumstances, the trustee would distribute pro rata
the proceeds of any such sale, less the costs of exercising the
Subscription Share Rights (including payment of the Subscription
Share exercise price) and such other fees, costs and expenses to
the persons entitled thereto (being, regardless of whether the
trustee has exercised all or only a proportion of the unexercised
Subscription Share Rights, all Subscription Shareholders
outstanding immediately prior to such exercise) at the risk of such
persons as soon as practicable, provided that entitlements of under
GBP5.00 per Subscription Shareholder will be retained for the
benefit of the Company.
If the trustee does not exercise the Subscription Share Rights
within the period of 14 days following the Final Subscription Date,
all the unexercised Subscription Share Rights will lapse and the
lapsed Subscription Shares will be redesignated as Deferred Shares
with immediate effect from the date of such lapse and then be
repurchased by the Company for a nominal value.
The trustee's decision in respect of the above will be final and
binding on all holders of outstanding Subscription Shares.
We would also refer you to the Prospectus and Circular to
Shareholders issued on 22 January 2021 (the "Prospectus") which
gives full details of the bonus issue of Subscription Shares and is
available on the Company's website:
www.ccjapanincomeandgrowthtrust.com
Capitalised terms used but not defined in this announcement have
the meanings given to them in the Prospectus.
Enquiries:
Apex Listed Companies Services (UK) Limited
Brian Smith / Ciara McKillop
020 3327 9720
Peel Hunt LLP
Luke Simpson / Liz Yong / Huw
Jeremy
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.
[1] By no later than 6.00 p.m. on 28 February 2023.
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END
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January 27, 2023 12:14 ET (17:14 GMT)
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