REG - AVI Japan Opport.Tst - Tender Offer Announced for AJOT Portfolio Company

AVI Japan Opportunity TrustAnnouncement

04/02/2025 09:15

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RNS Number : 8369V  AVI Japan Opportunity Trust PLC  04 February 2025

Tender Offer Announced for AJOT Portfolio Company

 

London, 04 February 2025 - Asset Value Investors Limited ("AVI") is pleased
to announce that one of AVI Japan Opportunity Trust's ("AJOT") portfolio
companies, Tecnos Japan Incorporated ("Tecnos Japan"), has received a tender
offer bid aimed at privatising the company.

AVI has signed a tender agreement with Ant Capital Partners Co., Ltd. (the
"Offeror") for AVI's 10% stake.

The investment in Tecnos Japan accounts for 3.8% of AJOT's net asset value
("NAV") as of 04 February 2025. The tender offer price of Y1,155 per share
represents a +39% premium to the undisturbed closing price on 04 February
2025. AJOT's NAV is set to increase by +145bps, should the share price trade
in-line with the tender offer price.

AVI has been a shareholder in Tecnos Japan since April 2024, generating a +17%
return for AJOT on the position prior to the TOB announcement (in JPY). As the
largest shareholder owning 10% of Tecnos Japan, AVI has engaged extensively
with the Board of Tecnos Japan on ways to enhance corporate value and returns
to shareholders.

Tecnos Japan serves as another example of how AJOT's concentrated portfolio of
asset-backed Japanese small-caps can benefit from AVI's active engagement
strategy against a backdrop of rapidly increasing corporate activity in Japan.

 

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About Asset Value Investors (AVI)

AVI is an investment management company established in London, United Kingdom,
in 1985. AVI has invested in Japanese equities for more than 40 years. AVI
manages AVI Global Trust plc ("AGT") (Total Gross Assets: approximately
£1.3bn), AVI Japan Opportunity Trust plc ("AJOT") (Total Gross Assets:
approximately £230m), and MIGO Opportunities Trust ("MIGO") (Total Gross
Assets: approximately £70m), etc., as of 31 December 2024. AGT and AJOT are
public companies whose shares are listed and traded on the main market of the
London Stock Exchange.

 

Contact:

Kaz Sakai - kaz.sakai@assetvalueinvestors.com

Asset Value Investors Limited

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