Prospect Japan Fund Result of EGM

 
TIDMPJF 
 
Prospect Japan Fund Limited (the 'Company') 
 
                    Result of Extraordinary General Meeting 
 
 
Further to the announcement on 1 February 2016 of a recommended proposal 
relating to the exercise of stock acquisition rights ('SARs') in Prospect Co., 
Ltd ('Prospect Co.'), the Company is pleased to announce that at the 
Extraordinary Meeting held earlier today the required Resolution was duly 
passed. 
 
The text of the Resolution was as follows: 
 
'THAT the Company be and is hereby authorised to enter into the Exercise 
Agreement, and to exercise the SARs as required by the terms of the Exercise 
Agreement during the Exercise Period, as defined in the circular to 
shareholders dated 1 February 2016 (the Circular), on the terms described in 
the Circular.' 
 
In total 79,140,487 votes were cast in favour of the Resolution and none were 
cast against. 4,616 votes were withheld. The total number of shares in issue 
amounts to 92,452,602. 
 
As set out in the Circular, the Company will now enter into the Exercise 
Agreement with Prospect Co. pursuant to the terms of which it will be required 
to exercise the SARs in a predetermined manner. Subject to the conditions set 
out therein, the Exercise Agreement may require the Company to purchase in 
aggregate 144,000,000 ordinary shares in Prospect Co. for ¥54 per ordinary 
share at any point during the period until 20 December 2020. 
 
Terms used and not defined in this announcement bear the meaning given to them 
in the Circular published on 1 February 2016. 
 
 
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

February 24, 2016 05:31 ET (10:31 GMT)

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