Prospect Japan Fund Ld Holding(s) in Company (0957I)
May 27 2014 - 4:47AM
UK Regulatory
TIDMPJF
RNS Number : 0957I
Prospect Japan Fund Ld
27 May 2014
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
-----------------------------------------------
1. Identity of the issuer or the underlying The Prospect Japan Fund Limited
issuer
of existing shares to which voting rights
are
attached:
------------------------------------------------------- ---------------------------------------
2 Reason for the notification (please tick the appropriate box or boxes):
------------------------------------------------------------------------------------------------
An acquisition or disposal of voting rights X
-------------------------------------------------------------------------------------- --------
An acquisition or disposal of qualifying financial instruments
which may result in the acquisition of shares already issued to
which voting rights are attached
-------------------------------------------------------------------------------------- --------
An acquisition or disposal of instruments with similar economic
effect to qualifying financial instruments
-------------------------------------------------------------------------------------- --------
An event changing the breakdown of voting rights
-------------------------------------------------------------------------------------- --------
Other (please specify):
------------------------- ----------------------------------------------------------- --------
3. Full name of person(s) subject Permal Investment Management Limited
to the and Permal Asset Management LLC
notification obligation:
--------------------------------------------- -------------------------------------------------
4. Full name of shareholder(s) BNY Mellon (FBO Permal Investment Holdings
(if different from 3.): N.V.), Permal Japan Holdings NV, Japan
Omnibus Ltd)
--------------------------------------------- -------------------------------------------------
5. Date of the transaction and date 21 May 2014
on
which the threshold is crossed
or
reached:
--------------------------------------------- -------------------------------------------------
6. Date on which issuer notified: 25 May 2014
--------------------------------------------- -------------------------------------------------
7. Threshold(s) that is/are crossed
or
reached: 15%
--------------------------------------------- -------------------------------------------------
8. Notified details:
------------------------------------------------------------------------------------------------------------------------
A: Voting rights attached to shares
------------------------------------------------------------------------------------------------------------------------
Class/type Situation previous Resulting situation after the triggering
of to the triggering transaction
shares transaction
if possible
using
the ISIN
CODE
------------- ------------------------------------- ------------------------------------------------------------------
Number Number Number Number of voting % of voting rights
of of of shares rights (x)
Shares Voting
Rights
------------- --------------- -------------------- ---------- -------------------------- --------------------------
Direct Direct Indirect Direct Indirect
(xi) (xii)
------------- ----- ------ ------- ------ --- ---------- --------------- --------- ----------- -------------
GB00B011QL44 14,792,907 14,792,907 14,792,907 14.75%
------------- --------------- -------------------- ---------- --------------- --------- ----------- -------------
B: Qualifying Financial Instruments
------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
------------------------------------------------------------------------------------------------------------------------
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion Period rights that may rights
be
acquired if the
instrument is
exercised/ converted.
---------------------- --------------- ------------------------------- ------------------------ --------------------
n/a
---------------------- --------------- ------------------------------- ------------------------ --------------------
C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments
------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
------------------------------------------------------------------------------------------------------------------------
Type of Exercise Expiration Exercise/ Number of voting % of voting rights
financial price date Conversion rights instrument
instrument period refers to
--------------- ------------- --------------- --------------- ---------------------------- ------------------------
n/a Nominal Delta
--------------- ------------- --------------- --------------- ---------------------------- ------------ ----------
Total (A+B+C)
------------------------------------------------------------------------------------------------------------------------
Number of voting rights Percentage of voting rights
-------------------------------------------------------------- --------------------------------------------------------
14,792,907 14.75%
-------------------------------------------------------------- --------------------------------------------------------
9. Chain of controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held, if applicable:
---------------------------------------------------------------------------------------------
1. Japan Omnibus Ltd (5,296,835 shares and voting rights of 5.67%). Permal
Japan Holdings NV is the sole beneficial owner of Japan Omnibus Ltd.
2. Permal Investment Holdings NV (8,496,072 shares and voting rights
of 9.09% - down from 9.62% at the time of the last filing).
This notification is being made in respect of Permal Investment Management
Services Limited (PIMS) and Permal Asset Management LLC (PAML), which
are both indirect holders of the shares for the purpose of DTR 5.2.1(h)
and whose ownership has crossed the threshold of 15%.
Proxy Voting:
---------------------------------------------------------------------------------------------
10. Name of the proxy holder: n/a
---------------------------------------------------------- ---------------------------------
11. Number of voting rights proxy holder will n/a
cease
to hold:
---------------------------------------------------------- ---------------------------------
12. Date on which proxy holder will cease to n/a
hold
voting rights:
---------------------------------------------------------- ---------------------------------
The change in percentage voting rights
13. Additional information: is due to Permal Investment Holdings
NV (PIH) selling 50,000 shares on
21 May 2014, which caused PIH's ownership
to decrease from 9.62% (representing
a holding of 8,996,072 shares) to
9.09% (representing a holding of 8,496,072
shares).
The change in percentage voting rights
is also due to Japan Omnibus Ltd,
of which Permal Japan Holdings NV
(PJH) is the sole beneficial owner,
selling 500,000 shares on 21 May 2014,
causing PJH's ownership to decrease
from 6.20% (representing a holding
of 5,796,835 shares) to 5.67% (representing
a holding of 5,296,835 shares).
PIMS holds the voting rights under
proxy contained in the investment
management agreements with PIH and
PJH, and subdelegates investment management
to PAML, which also holds the voting
rights under proxy as
a result.
As a result, collectively, PIMS and
PAM's total percentage voting rights
decreased from 15.82% (representing
a holding of 14,792,907 shares) to
14.75% (representing a holding of
13,792,907 shares). This combined
voting rights triggered a filing because
it crossed a threshold of 15%.
-------------------------------------------- -----------------------------------------------
14. Contact name: Karen Hager
-------------------------------------------- -----------------------------------------------
15. Contact telephone number: +1 (212) 418 6624
-------------------------------------------- -----------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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