CC Japan subscription shares are here – CC Japan Income says today it has allotted 26,946,122 subscription shares to qualifying shareholders whose names were on the share register on 15 February 2021. Application has been made for the admission of the subscription shares to the standard segment of the official list and to trading on the main market of the London Stock Exchange. Dealings are expected to commence at 8.00 a.m. on 18 February 2021. Shareholders should note that, whilst the record date for the bonus issue was 6.00 p.m. on 15 February 2021, the ex-date will be 18 February 2021. Unless the counterparties specifically agree otherwise, a buyer of the company’s ordinary shares ahead of the ex-date will be entitled to the subscription shares, and the seller would need to pass the benefit to the buyer. Following admission of the subscription shares there will be 134,730,610 ordinary shares and 26,946,122 subscription shares in issue.
Subscription Price
The subscription price is calculated as the unaudited published NAV per ordinary share (cum-income) as at close of business on 15 February 2021, plus a 1% premium, rounded up to the nearest whole penny. Accordingly, the subscription price payable on exercise of each subscription share has been calculated to be 161p. This compares to a share price last night of 138p.
CCJI : CC Japan subscription shares are here