Prospect Japan Fund Toho Real Estate

 
TIDMPJF 
 
For immediate release on 30 March 2016 
 
                The Prospect Japan Fund Limited (the 'Company') 
 
                           Toho Real Estate - Update 
 
In 2015 the Board announced that the court presiding over the Company's 
petition for the appraisal of the shares of Toho Real Estate Co., Ltd. had 
granted an award to the Company of JPY 100 per share over the tender offer 
price (amounting to an aggregate of Yen 121.6 million) and that an appeal to 
this ruling had been made. 
 
The Company has now been notified by the Tokyo High Court of its decision in 
the appeal case.   The Tokyo High Court now rules that the tender offer price 
amounted to fair value and has therefore eliminated the award of JPY 100 per 
share.   That award had been carried in the Company's weekly net asset value 
announcements and will now be written off. The position amounted to 
approximately 0.9% of the Company's net asset value. 
 
The Company intends to file an appeal to this ruling. 
 
Enquiries: 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Franczeska Hanford 
+44 (0) 1481 745918 
 
Stockdale Securities Limited 
Alastair Moreton 
+44 (0) 20 7601 6118 
 
 
 
END

(END) Dow Jones Newswires

March 30, 2016 08:58 ET (12:58 GMT)

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