CC Japan Income & Growth Trust PLC Intention to Issue Subscription Shares (5308G)

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RNS Number : 5308G

CC Japan Income & Growth Trust PLC

26 November 2020

26 November 2020

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (FOR THE AVOIDANCE OF DOUBT, THIS DOES NOT INCLUDE THE UK) OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (FOR THE AVOIDANCE OF DOUBT, THIS DOES NOT INCLUDE THE UK)

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014

CC Japan Income & Growth Trust plc

Intention to Issue Subscription Shares

CC Japan Income & Growth Trust plc (the "Company") announces that it is considering a bonus issue of subscription shares ("Subscription Shares") to existing shareholders, on the basis of one Subscription Share for every five ordinary shares held (the "Bonus Issue"). The Company intends to publish a prospectus and circular in connection with the Bonus Issue in the New Year. The Company will seek a listing for the Subscription Shares on the Standard segment of the London Stock Exchange's Main Market.

The Board of the Company (the "Board") continues to be encouraged by the strengthening investment case for Japanese equities and, in particular, the scope for recovery as Japan emerges from the Covid-19 pandemic. The Board believes that the Company's mandate, as executed by our investment manager, Coupland Cardiff Asset Management, is well positioned to deliver capital and income growth for its shareholders over the medium term. The issue of bonus Subscription Shares could create an attractive opportunity for shareholders to subscribe in the future for further ordinary shares, on a pre-emptive basis, thereby increasing the size of the Company.

A further announcement will be made in due course.

This announcement has been released on behalf of the Company by order of the Board.

The Company's LEI is: 549300FZANMYIORK1K98

Enquiries:

PraxisIFM Fund Services (UK) Limited

 
 Brian Smith / Ciara McKillop 
  020 4513 9260 
 
  Peel Hunt LLP 
  Luke Simpson / Liz Yong / Tom 
  Pocock 
  020 7418 8900 
 

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

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November 26, 2020 02:00 ET (07:00 GMT)