Nippon Active Value Fund PLC AJG Publication of Circular (0766M)

TIDMNAVF

RNS Number : 0766M

Nippon Active Value Fund PLC

12 September 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, HONG KONG, SINGAPORE OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL.

12 September 2023

Nippon Active Value Fund plc

LEI: 213800JOFEGZJYS21P75

AJG publication of Circular

Further to the Company's announcement dated 11 August 2023, which detailed proposals relating to the rollover of assets of each of abrdn Japan Investment Trust plc ("AJIT") and Atlantis Japan Growth Fund Limited ("AJG") into the Company pursuant to schemes of reconstruction of AJIT and AJG (respectively the "AJIT Scheme" and the "AJG Scheme", and together the "Schemes"), the Company notes the announcement today by AJG that it has published a shareholder circular (the "Circular") setting out proposals for the AJG Scheme.

The Board welcomes this news and believes that the Schemes offer a number of benefits, including an enlarged capital base over which to spread costs, potential for greater liquidity and a more diverse portfolio of assets. The timetable for the Scheme is as follows:

Expected Timetable ([1])

 
                                                                            2023 
 AJG Scheme Calculation Date                              5.00 p.m. on 6 October 
 AJG General Meeting                                     3.00 p.m. on 10 October 
 Effective Date for implementation of the                             10 October 
  AJG Scheme 
 Announcement of results of the AJG Scheme                            10 October 
  and respective FAVs per share 
 Admission of the Ordinary Shares pursuant               8.00 a.m. on 11 October 
  to the AJG Scheme 
 CREST accounts credited in respect of                   8.00 a.m. on 11 October 
  Ordinary Shares issued in uncertificated 
  form 
 Certificates despatched in respect of                week commencing 16 October 
  New NAVF Shares during or as soon as practicable 
  after

[1] Note: All references to time in this document are to UK time. Each of the times and dates in the above expected timetable (other than in relation to the Extraordinary General Meeting) may be extended or brought forward. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service.

Enquiries

Berenberg

Gillian Martin / Dan Gee-Summons / Natasha Ninkov Tel: +44 (0)20 3207 7800

Company Secretary

Maria Matheou Tel: +44 (0) 20 3327 9720

Important information relating to Sponsor and Financial Adviser

Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg") which is authorised and regulated by the German Federal Financial Supervisory Authority and deemed authorised and subject to limited regulation in the United Kingdom by the FCA, is acting solely as sponsor and financial adviser to the Company and for no one else in relation to the proposed transaction, and will not be responsible to anyone other than the Company for providing the protections afforded to the clients of Berenberg or for providing advice in relation to the proposed transaction, the contents of this document or any other matters described in this announcement.

Apart from the responsibilities and liabilities, if any, which may be imposed upon Berenberg by FSMA or the regulatory regime established thereunder, Berenberg does not accept any responsibility whatsoever or make any representation or warranty, express or implied, concerning the contents of this announcement, including as to its accuracy, completeness or verification, or for any other statement made or purported to be made by it, or on its behalf, in connection with the Company or the proposed transaction, whether as to the past or future.

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END

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September 12, 2023 02:01 ET (06:01 GMT)

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