REG - abrdn Japan IT - Update on Reconstruction and Voluntary Winding-up

abrdn Japan Investment TrustAnnouncement

11/08/2023 07:15

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RNS Number : 9953I  abrdn Japan Investment Trust plc  11 August 2023

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PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN
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FOR WHICH THE SAME COULD BE UNLAWFUL.

 

11 AUGUST 2023

LEI: 5493007LN438OBLNLM64

 

abrdn Japan Investment Trust plc

Update on the Reconstruction and Voluntary Winding-up of the Company

The Board of abrdn Japan Investment Trust plc (the "Company") notes the
announcements today by Nippon Active Value Fund plc ("NAVF") and Atlantis
Japan Growth Fund Limited ("AJGF"), which set out details of the proposed
combination of NAVF and AJGF, which is in addition to the existing proposed
combination of the Company and NAVF. The principal terms of the NAVF and AJGF
combination are identical to those agreed between the Company and NAVF.
Neither combination is conditional upon the other completing.

The Board welcomes this news as a second endorsement of the investment
strategy of Rising Sun Management Limited, investment adviser to NAVF.
Furthermore, the Board believes it represents the potential for a further
scaling up of the combined company with the consequent benefits of greater
liquidity for shareholders as well as the spreading of the fixed costs of NAVF
over an even larger base.

The formal documentation for the implementation of the combination of the
Company and NAVF is now well advanced and the Board expects to announce its
publication by early September.

 

Enquiries

 abrdn Japan    Karen Brade                                                   E:  abrdnjapan@shorecap.co.uk
 Shore Capital  Robert Finlay/Rose Ramsden/Angus Murphy (Corporate Advisory)  T: 020 7408 4090

                Fiona Conroy (Corporate Broking)

 

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