Admission to Trading and First Day of Dealings

RNS Number : 6725D

Nippon Active Value Fund PLC

21 February 2020

 

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR THEIR RESPECTIVE TERRITORIES OR POSSESSIONS, OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

21 February 2020

Nippon Active Value Fund PLC

(the "Company")

Admission to Trading and First Day of Dealings

Nippon Active Value Fund plc is pleased to announce the commencement of dealings in its Ordinary Shares of £0.01 each at 8.00 am today on the Specialist Fund Segment of the Main Market of the London Stock Exchange. The Ordinary Shares will trade under the ticker "NAVF".

As announced on 19 February 2020, the Company successfully raised gross proceeds of £103 million through the Initial Placing, Offer for Subscription and Intermediaries Offer (the "Issue") of 103,000,000 Ordinary Shares at a price of 100 pence per Ordinary Share.

The Company's issued share capital immediately following Admission will comprise 103,000,001 Ordinary Shares and this is the total number of Ordinary Shares with voting rights in the Company. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Further to the publication of the Company's supplementary prospectus on 13 February 2020, the Company confirms that on Admission, Rosenwald Associates, which includes, inter alia, Dalton Clients, will, in aggregate, hold 41,560,001 Ordinary Shares. This holding represents approximately 40.3 per cent of the Company's issued capital immediately following Admission.

Capitalised terms not otherwise defined in this announcement have the same meaning as defined in the prospectus and supplementary prospectus published by the Company on 7 January 2020 and 13 February 2020 respectively.

For further enquiries, please contact:

Nippon Active Value Fund Plc   Company Secretary		[phone]
Shore Capital   Corporate Advisory:   Robert Finlay   Patrick Castle   Hugo Masefield		[phone]
Sales and Corporate Broking:
Adam Gill   Matthew Kinkead   Henry Willcocks   Fiona Conroy

Important Information

This announcement has been prepared by, and is the sole responsibility of, the Directors of the Company.

This announcement may not be published, distributed or transmitted by any means or media, directly or indirectly, in whole or in part, in or into the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and will not be offered, sold, exercised, resold, transferred or delivered, directly or indirectly, in or into the United States or to, or for the account or benefit of, any US person (as defined under Regulation S under the US Securities Act). The Company has not been, and will not be, registered under the U.S. Investment Company Act of 1940, as amended.

Neither this announcement nor any copy of it may be: (i) taken or transmitted into or distributed in any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa or to any resident thereof, or (ii) taken or transmitted into or distributed in Japan or to any resident thereof. Any failure to comply with these restrictions may constitute a violation of the securities laws or the laws of any such jurisdiction. The distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.

Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited (together "Shore Capital"), which are authorised and regulated by the Financial Conduct Authority in the United Kingdom, are acting only for the Company in connection with the matters described in this announcement and are not acting for or advising any other person, or treating any other person as their client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Shore Capital or advice to any other person in relation to the matters contained herein. Neither Shore Capital nor any of their directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for this announcement, its contents or otherwise in connection with it or any other information relating to the Company, whether written, oral or in a visual or electronic format.

 

END

 

 

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