Announcement of Tender Price

AVI Japan Opportunity Trust PLC

14 January 2026

 

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN PART IN CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE ITS RELEASE, PUBLICATION OR DISTRIBUTION IS OR MAY BE UNLAWFUL.  

AVI Japan Opportunity Trust PLC

(the "Company")

Announcement of Tender Price

Tender Price

Further to the Company's announcement of 13 January 2026 regarding the results of the Tender Offer, the Company today announces that the Tender Price at which all the Shares validly accepted in the Tender Offer will be acquired is 173.7587 pence per Share.

The Tender Price has been calculated in accordance with the methodology described in the circular to Shareholders published on 9 December 2025 (the "Circular"), being a 2 per cent. discount to the NAV per Share at the Calculation Date less any transaction costs directly associated with realising assets to satisfy elections under the Tender Offer.

Settlement of the Tender Offer

Singer Capital Markets will acquire the 26,899,713 validly tendered Shares pursuant to the Tender Offer and all the tendered Shares will be held in treasury. 

As set out in the Circular, proceeds payable to Shareholders whose tendered Shares are held through CREST accounts are expected to be paid by 21 January 2026.  Cheques for certificated Shares purchased under the Tender Offer and balance share certificates in respect of unsold tendered Shares held in certificated form will be despatched by 28 January 2026.

Capitalised terms shall have the meanings attributed to them in the Circular unless otherwise defined in this announcement. 

14 January 2026

LEI: 894500IJ5QQD7FPT3J73

Notice for US Shareholders

The Tender Offer relates to securities of a non-US company registered in England and Wales and with a listing on the London Stock Exchange and is subject to the disclosure requirements, rules and practices applicable to companies listed in the United Kingdom, which differ from those of the United States in certain material respects.  A circular has been prepared in accordance with UK style and practice for the purpose of complying with the laws of England and Wales and the rules of the FCA and of the London Stock Exchange.  The Tender Offer is not subject to the disclosure or other procedural requirements of Regulation 14D under the US Securities Exchange Act of 1934, as amended.  The Tender Offer will be made in the United States pursuant to Section 14(e) of, and Regulation 14E under, the Exchange Act, subject to the exemptions provided by Rule 14d-1 thereunder, and otherwise in accordance with the requirements of the rules of the FCA and the London Stock Exchange.  Accordingly, the Tender Offer will be subject to disclosure and other procedural requirements that are different from those applicable under US domestic tender offer procedures and law.  The Company is not listed on an American securities exchange, is not subject to the periodic reporting requirements of the Exchange Act and is not required to, and does not, file any reports with the SEC thereunder.

It may be difficult for US shareholders to enforce certain rights and claims arising in connection with the Tender Offer under US federal securities laws, because the Company is located outside the United States, and its officers and directors reside outside the United States. It may not be possible to sue a non-US company or its officers or directors in a non-US court for violations of US securities laws.  It also might not be possible to compel a non-US company or its affiliates to subject themselves to a US court's judgment.

To the extent permitted by applicable law and in accordance with normal UK practice, the Company or Singer Capital Markets or any of their affiliates may make certain purchases of, or arrangements to purchase, shares of the Company outside the United States during the period in which the Tender Offer remains open for acceptance, including sales and purchases of shares effected by Singer Capital Markets acting as market maker in the shares

 

END