Nippon Active Value Fund PLC Migration to Premium List (1088N)

TIDMNAVF

RNS Number : 1088N

Nippon Active Value Fund PLC

20 September 2023

Nippon Active Value Fund plc

LEI: 213800JOFEGZJYS21P75

Migration to Trading on the Premium Segment of the Main Market of the London Stock Exchange and Admission to the Premium Listing Segment of the Official List of the FCA

The Board of Nippon Active Value Fund plc is pleased to announce that it has received confirmation from the Financial Conduct Authority (the "FCA") that the Company is eligible for the admission of its ordinary shares of one penny each (the "Ordinary Shares") to the premium listing segment of the Official List of the FCA.

Accordingly, the Company has made applications for (i) 113,021,433 Ordinary Shares, representing the entire issued ordinary share capital of the Company, to be admitted to the Official List of the FCA; and (ii) a transfer of the Ordinary Shares from trading on the Specialist Fund Segment to the Premium Segment of London Stock Exchange plc's Main Market (together, the "Migration" or "Admission"). Admission is expected to occur with effect from 8.00 a.m. on 21 September 2023.

The Board believes that the Company will benefit over time from the Migration which the Company expects to improve the access of retail investors to the enlarged Company and therefore its share rating and liquidity.

The Company's existing ticker, ISIN, LEI and SEDOL will remain unchanged.

Working capital

In accordance with LR6.7.1R, the Company is of the opinion that the working capital available to the Company is sufficient for its present requirements, that is for at least the next 12 months from the date of this announcement.

Update on the proposed rollovers of abrdn Japan Investment Trust plc ("AJIT") and Atlantis Japan Growth Fund Limited ("AJG")

The proposed rollovers of the assets of AJIT and AJG into the Company, pursuant to s.110 of the Insolvency Act 1986 and section 391(1)(b) of the Companies (Guernsey) Law, 2008, respectively (the "Schemes"), are progressing. Further announcements relating to the Schemes, including the results of AJIT's general meeting and the results of AJG's general meeting, will be made in due course.

Rosemary Morgan, Chairman of the Company, said:

"The Migration to the Premium Segment is an important milestone for the Company. The Migration brings a range of benefits for the Company, including the potential for broadening its investor base and increasing share liquidity. It is also an important part of the process associated with completing the proposed combinations of the Company with abrdn Japan Investment Trust plc and Atlantis Japan Growth Fund Limited.".

Enquiries

   Apex Listed Companies Services (UK) Ltd            Sylvanus Cofie/Maria Matheou 
   (Company Secretary)                                                      Tel: +44 (0) 20 3327 9720

Berenberg Gillian Martin/Dan Gee-Summons

(Sponsor and Financial Adviser) Tel: +44 (0)20 3207 7800

Shore Capital Robert Finlay/Rose Ramsden/Angus Murphy

Fiona Conroy (Corporate Broking)

   (Joint Corporate Broker)                                               Tel: +44 (0) 20 7408 4090

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September 20, 2023 10:00 ET (14:00 GMT)

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