For filings with the FSA include the annex
For filings with issuer exclude the annex
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1. Identity of the issuer or the underlying issuer Prospect Japan Fund
of existing shares to which voting rights are Limited
attached:ii
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):
Permal Investment Management
Services Limited and
3. Full name of person(s) subject to the
notification obligation:iii Permal Asset Management LLC
BNY Mellon (FBO Permal
4. Full name of shareholder(s) Investment Holdings N.V.,
(if different from 3.):iv Permal Japan Holdings N.V.,
Japan Omnibus Ltd.)
5. Date of the transaction and date on
which the threshold is crossed or 4 February 2015
reached: v
6. Date on which issuer notified: 9 February 2015
7. Threshold(s) that is/are crossed or 5%
reached: vi, vii
8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type Situation previous Resulting situation after the triggering
of to the triggering transaction
shares transaction
Number Number Number Number of voting % of voting
if possible of of of shares rights rights x
using Shares Voting
the ISIN Rights Direct Direct xi Indirect Direct Indirect
CODE xii
GB00B011QL44 7,482,907 7,482,907 4,482,907 4.85
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date xiii Conversion Period xiv rights that may be rights
acquired if the
instrument is
exercised/
converted.
N/A
C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments xv, xvi
Resulting situation after the triggering transaction
Type of Exercise price Expiration Exercise/ Number of voting % of voting
financial date xvii Conversion rights instrument rights xix, xx
instrument period refers to
xviii
Nominal Delta
N/A
Total (A+B+C)
Number of voting rights Percentage of voting rights
4,482,907 4.85
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi
Japan Omnibus Ltd. (1,804,335 shares and voting rights of 1.95%). Permal Japan
Holdings N.V. is the sole beneficial owner of Japan Omnibus Ltd.
Permal Investment Holdings N.V. (2,678,572 shares and voting rights of 2.90%).
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 5%.
Proxy Voting:
10. Name of the proxy holder: N/A
11. Number of voting rights proxy holder will cease
to hold:
12. Date on which proxy holder will cease to hold
voting rights:
The change in percentage of voting rights is due to Permal
13. Additional information: Investment Holdings N.V. ("PIH")
selling 1,500,000 shares on 4 February 2015, which caused
PIH's ownership to decrease from 4.52% (representing a
holding of 4,178,572 shares) to 2.90% (representing a
holding of 2,678,572 shares).
The change in percentage of voting rights is also
due to Japan Omnibus Ltd., of which Permal
Japan Holdings N.V. ("PJH") is the sole beneficial owner,
selling 1,500,000 shares on 4 February 2015, causing PJH's
ownership to decrease from 3.57% (representing a holding
of 3,304,335 shares) to 1.95% (representing a holding of
1,804,335 shares).
PIMS holds the voting rights under proxy contained in the
investment management
agreements with PIH and PJH, and sub-delegates investment
management to PAML, which also holds the voting rights
under proxy as a result.
As a result, collectively, PIMS and PAML's total
percentage voting rights decreased from 8.09%
(representing a holding of 7,482,907 shares) to
4.85% (representing a holding of 4,482,907 shares). This
combined voting rights triggered a filing because it
crossed a threshold of 5%.
14. Contact name: Glyn Clark
15. Contact telephone number: +44 20 7389 1358