Prospect Japan Fund Link Up Loan Investment
December 30 2015 - 8:07AM
UK Regulatory
TIDMPJF
For immediate release on 30 December 2015
The Prospect Japan Fund Limited
Link Up Loan Investment
Prospect Japan Fund Limited (the 'Company') reported in its most recent Monthly
Review, published on 9 December 2015, that the Link Up Loan was in default and
that the Company had commenced legal action to enforce its rights to the
collateral which comprised shares in Tri-Stage Inc. (2178). The Company is
pleased to announce that it has now received the collateral shares in Tri-Stage
in lieu of the repayment of the Link Up Loan.
In the Company's most recently published net asset value on 24 December 2015,
the Link up Loan, including accrued interest and late charges, was valued at
Yen 1,175.5m (approximately $9.8m) and comprised approximately 8.2% of total
assets.
The Tri-Stage shares will now replace the Link up Loan position and based on
the market value of the shares as at 30 December 2015 represents a net uplift
to the NAV of the Company of approximately 2.9%.
Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Franczeska King
+44 (0) 1481 745918
Westhouse Securities Limited
Alastair Moreton
Rose Ramsden
+44 (0) 20 7601 6118
END
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