Prospect Japan Fund Net Asset Value(s)
May 26 2017 - 11:40AM
UK Regulatory
TIDMPJF
THE PROSPECT JAPAN FUND LIMITED
(a closed-ended investment company incorporated in Guernsey with registration
number 28863)
FUND NAME NAV SEDOL NAV DATE
The Prospect Japan Fund $ 1.2389 B011QL4 26th May 2017
Limited
Note: The Fund's NAV above includes a holding in Prospect Co. of Yen 270
million stock acquisition rights ('SARs') (valued at par) and 6,706,000
ordinary shares (valued at a price of Yen 69 per share) with 90 SARs having
been converted, following the initial conversion date of 21 December 2015 and
2.598 million ordinary shares arising sold. The SARs can be exercised into
shares of Prospect Co. at a price of Yen 54 per Prospect Co. share at any time
prior to the expiration date of 20 December 2020 pursuant to the terms of the
Exercise Agreement between the Fund and Prospect Co.
However, for information purposes only, if the SARs were to be 'fair valued'
using the Black-Scholes-Merton model, in line with the annual financial
statements, there would be an uplift of US$9,148,425.64 (31 December, 2016
annual accounts: US$7,684,136) from the NAV based on retaining the SARs at cost
for the same date, the exercise price remains unchanged."
Top 10 Holdings
Symbol Security % of Total
Assets
8563 THE DAITO BANK 26.43%
8562 FUKUSHIMA BANK 24.26%
9313 MARUHACHI WAREHOUSE 9.69%
8205 SHAKLEE GBL. GRP. 8.73%
3528 PROSPECT CO 5.81%
8521 NAGANO BANK 2.58%
1921 TOMOE 0.46%
Date: 26th May 2017
Enquiries:
Limerick_FA_Team_7@ntrs.com
END
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