Prospect Japan Fund Purchase of Stock Acquisition Rights

 
TIDMPJF 
 
For immediate release on 16 December 2015 
 
 
                        The Prospect Japan Fund Limited 
 
            Purchase of Stock Acquisition Rights in Prospect Co Ltd 
 
Prospect Japan Fund Limited (the 'Company') announces that it has today agreed 
to acquire 1,440 stock acquisition rights ('SARs') in Prospect Co Ltd 
('Prospect') for an aggregate consideration of ¥288 million (approximately $2.4 
million). Each SAR gives the Company the right to acquire 100,000 ordinary 
shares in Prospect at a price of ¥5.4 million per SAR (or ¥54 per ordinary 
share). The issue of the SARs was approved by Prospect shareholders at a 
general meeting on 16 December 2015 and purchase by the Company is due to 
complete on 21 December 2015. 
 
Prospect is listed on the Tokyo Stock Exchange with a market capitalisation of 
¥8,490 million (approximately $70m).  It owns and operates a number of Japanese 
based businesses in sectors such as real estate, construction, investment 
management and solar power generation.  Its investment management business is 
Prospect Asset Management Inc., the investment manager of the Company. As the 
parent company of the Company's investment manager Prospect is considered a 
related party of the Company. This transaction is therefore disclosable as a 
smaller related party transaction pursuant to LR11.1.10R. 
 
The SARs are exercisable at any point from 21 December 2015 until 20 December 
2020. The exercise of the SARs by the Company will constitute a related party 
transaction falling within LR11.1.7R and the Company will send a circular to 
shareholders seeking approval for this transaction in due course. 
 
Enquiries: 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Franczeska Hanford 
+44 (0) 1481 745918 
 
Westhouse Securities Limited 
Alastair Moreton 
Rose Ramsden 
+44 (0) 20 7601 6118 
 
 
 
END

(END) Dow Jones Newswires

December 16, 2015 07:31 ET (12:31 GMT)

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