Fidelity Japan Trust Plc - Results of Scheme Elections

10 November 2025

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, NEW ZEALAND CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR IN ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in any jurisdiction in which the same would be unlawful. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

 

 

Fidelity Japan Trust PLC ("FJV" or the "Company")

Results of Scheme Elections

     

In connection with the recommended proposals for the combination of the Company with AVI Japan Opportunity Trust plc (" AJOT "), to be effected by way of a scheme of reconstruction and members' voluntary winding up of the Company under section 110 of the Insolvency Act (the " Scheme "), the Board announces the following Elections pursuant to the Scheme:

• Rollover Option: 77,353,152 Shares / 68 per cent. of issued Shares which will be reclassified as Reclassified Shares with "A" rights, being the right to receive New AJOT Shares; and

 

• Cash Option: 36,324,714 Shares / 32 per cent. of issued Shares which will be reclassified as Reclassified Shares with "B" rights, being the right to receive cash.

In accordance with the Scheme, eligible Shareholders that made no Election have been deemed to have elected for the Rollover Option.

The Cash Option is limited in aggregate to 50 per cent. of the issued Shares (excluding treasury Shares) as at 6 p.m. on 7 November 2025. However, Shareholders were entitled to elect for the Cash Option in respect of more than 50 per cent. of their individual holdings of Shares (such excess amount being an " Excess Application "), with Excess Applications being scaled back in the manner described in the Company's circular to Shareholders dated 14 October 2025 (the " Circular ").

In light of the above elections, any Shareholders electing for the Cash Option will have their Election satisfied in full (including any Excess Application).  

The Shares were disabled for settlement in CREST from 6.00 p.m. on 7 November 2025 and trading was suspended from 7.30 a.m. this morning, 10 November 2025. In accordance with the timetable, applications have been made to the FCA and to the London Stock Exchange for the Shares to be reclassified for listing purposes with effect from 8.00 a.m. on 26 November 2025. The listing of, and dealings in, the Company's Reclassified Shares are subsequently expected to be suspended at 7.30 a.m. on 27 November 2025.

Defined terms used in this announcement have the meanings given in the Company's Circular. The Circular is available for viewing at the National Storage Mechanism which can be located at   https://data.fca.org.uk/#/nsm/nationalstoragemechanism   and on the Company's website at https://www.fidelity.co.uk/Japan .

EXPECTED TIMETABLE

 

For further information please contact:

Legal Entity Identifier

549300ND695NEJ5GPI72

This announcement is not for publication or distribution in or into the United States of America.   This announcement is not an offer of securities for sale into the United States.   The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.   No public offering of securities is being made in the United States.