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 Limited |
$ 1.2421 |
B011QL4 |
02nd June
2017 |
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 72 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$10,138,822 (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 |
26.45% |
8562 |
FUKUSHIMA BANK |
24.67% |
9313 |
MARUHACHI
WAREHOUSE |
9.65% |
8205 |
SHAKLEE GBL. GRP. |
8.62% |
3528 |
PROSPECT CO |
5.88% |
8521 |
NAGANO BANK |
2.53% |
1921 |
TOMOE |
0.44% |
|
|
|
|
|
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Date: 02nd June 2017
Enquiries:
Limerick_FA_Team_7@ntrs.com