Trustee Decision & Issue of Ordinary Shares

RNS Number : 7699D

JPMorgan Japan Smaller Co Tst PLC

01 April 2014

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

SUBSCRIPTION SHARES - TRUSTEE DECISION AND

ISSUE OF ORDINARY SHARES

JPMorgan Japan Smaller Companies Trust plc announces that, further to the announcement made on 1^st April 2014, the Trustee appointed over the 2,747,739 outstanding Subscription Shares (excluding the 6,028 Subscription Shares held by certificated holders to be converted to Ordinary Shares on 14^th April 2014) has made the decision to exercise the Subscription Rights attaching to the 2,747,739 outstanding Subscription Shares, resulting in an issue of 2,747,739 Ordinary Shares.

Subscription Shareholders on whose behalf the Trustee has exercised the outstanding Subscription Rights and is selling the resulting Ordinary Shares will receive the net proceeds of such sale, after deduction of the Conversion Price of 174 pence together with all associated fees, costs and expenses (including brokerage commission), of approximately 7.55 pence per Subscription Share.  Net proceeds should be received by no later than 26^th May 2014 provided that aggregate entitlements per holder of under £5.00 shall be retained for the benefit of the Company.

Application has been made for the 2,747,739 new Ordinary Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities.  Dealings are expected to commence on 4^th April 2014.

The number of Ordinary Shares in issue following the exercise of the 2,747,739 outstanding Subscription Shares will be 46,682,768, including 409,500 Ordinary Shares held in Treasury.  The number of Ordinary Shares that will be in issue following the conversion on 14^th April 2014 of the 6,028 Subscription Shares held by certificated holders will be 46,688,796.

1^st April 2014

For further information, please contact:

Rebecca Burtonwood

JPMorgan Asset Management (UK) Limited - Company Secretary

Telephone [phone]

 

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