The Prospect Japan Fund Limited
(the "Company")
(a closed-ended investment company incorporated with limited
liability under the Laws of Guernsey with registered number
28863)
Result of Annual General
Meeting
18 August 2016
At the Annual General Meeting of the Company held earlier today,
all Ordinary Resolutions set out in the AGM Notice sent to
shareholders dated 22 July 2016 were
duly passed.
Details of the proxy voting results which should be read
alongside the Notice sent to shareholders are noted below:
| Ordinary
Resolution |
For |
Against |
Withheld |
| 1 |
70,666,277 |
8,416,883 |
0 |
| 2 |
70,666,277 |
8,416,883 |
0 |
| 3 |
79,083,160 |
0 |
0 |
| 4 |
66,947,085 |
10,666,883 |
1,469,192 |
| 5 |
68,416,277 |
10,666,883 |
0 |
| 6 |
68,416,277 |
2,250,000 |
8,416,883 |
| 7 |
79,083,160 |
0 |
0 |
Note - A vote
withheld is not a vote in law and has not been counted in the votes
for and against a
resolution
At the same AGM noted above, the following Special Business by
Ordinary Resolution was also passed, as detailed below:
7. SPECIAL BUSINESS BY ORDINARY
RESOLUTION
To resolve that, in substitution of all previous authorities,
the Company be generally, subject as hereinafter appears, and
unconditionally authorised in accordance with the Law to make
market acquisitions (as defined in Section 316 of the Law) of its
ordinary shares of US$0.001 each (the
“Shares”) provided that:
(i) the maximum number of Shares hereby
authorised to be purchased shall be 13,843,655 being equivalent to
no more than 14.99% of the Company’s issued share capital at the
date of this Notice;
(ii) the minimum price (exclusive of expenses) which
may be paid for a Share is US$0.001,
being the nominal value per share;
(iii) the maximum price (exclusive of expenses)
which may be paid for a Share is an amount equal to 105 per cent of
the average of the middle market quotations for a Share taken from
the London Stock Exchange Daily Official List for the 5 business
days immediately preceding the day on which the Share is
purchased;
(iv) purchase may only be made pursuant to this authority if the
Shares are (at the date of the proposed purchase) trading on the
London Stock Exchange at a discount to the lower of the undiluted
or diluted net asset value;
(v) the authority hereby conferred shall expire at
the conclusion of the annual general meeting of the Company in 2017
unless such authority is renewed prior to such time; and
(vi) the Company may make an acquisition of Shares after
the annual general meeting of the Company in 2017 pursuant to this
authority if the contract of acquisition was concluded before the
authority expired and the authority hereby conferred permits the
Company to make a contract of acquisition of Shares which would or
might be executed wholly or partly after the expiration of this
authority.
All Enquiries:
The Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Limited
Tel: +44 (0) 1481 745001
Company Website: www.prospectjapan.com