Prospect Japan Fund Ld Result of AGM (7665K)

TIDMPJF

RNS Number : 7665K

Prospect Japan Fund Ld

24 August 2012

Prospect Japan Fund Limited (the" Company")

(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 28863)

Result of Annual General Meeting

24 August 2012

At the Annual General Meeting ("AGM") held on 24 August 2012, the Board of Directors are pleased to announce that all Ordinary Resolutions were passed as set out in the Notice of AGM dated 13 July 2012.

The following special business was also passed as an Ordinary Resolution:

That, in substitution of all previous authorities, the Company be generally, subject as hereinafter appears, and unconditionally authorised in accordance with the Law to make market acquisitions (as defined in Section 316 of the Law) of its ordinary shares of US$0.001 each (the "Shares") provided that:-

(i) the maximum number of Shares hereby authorised to be purchased shall be 14,577,865 being equivalent to no more than 14.99% of the Company's issued share capital at the date of this Notice;

(ii) the minimum price (exclusive of expenses) which may be paid for a Share is US$0.001, being the nominal value per share;

(iii) the maximum price (exclusive of expenses) which may be paid for a Share is an amount equal to 105 per cent of the average of the middle market quotations for a Share taken from the London Stock Exchange Daily Official List for the 5 business days immediately preceding the day on which the Share is purchased;

(iv) purchase may only be made pursuant to this authority if the Shares are (at the date of the proposed purchase) trading on the London Stock Exchange at a discount to the lower of the undiluted or diluted net asset value;

(v) the authority hereby conferred shall expire at the conclusion of the annual general meeting of the Company in 2013 unless such authority is renewed prior to such time; and

(vi) the Company may make an acquisition of Shares after the annual general meeting of the Company in 2013 pursuant to this authority if the contract of acquisition was concluded before the authority expired and the authority hereby conferred permits the Company to make a contract of acquisition of Shares which would or might be executed wholly or partly after the expiration of this authority.

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.hemscott.com/nsm.do

Enquiries:

Company Secretary - Northern Trust International Fund Administration Services (Guernsey) Limited