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Nippon Active Value launches share issuance programme and PrimaryBid offer

Nippon Active Value launches share issuance programme and PrimaryBid offer – Following previous announcements to raise further capital, Nippon Active Value (NAVF) has confirmed that the Initial Issue will take the form of an issue of Ordinary Shares to be issued at a price equivalent to NAV plus a premium of 1.5% in respect of issue costs. Based on the expected timetable for the issue, the NAV used to determine the cash issue price will be the unaudited NAV as at close of business on Monday 22 November.

In addition to the Share Issuance Programme, NAVF intends to make an offer of new Ordinary Shares at the Issue Price up to the sterling equivalent of €8m available on the PrimaryBid platform, in which retail investors may be able to participate. The Company has determined not to proceed with the Intermediaries Offer described in the Prospectus.

Private investors may participate in the PrimaryBid Offer by applying exclusively through the PrimaryBid mobile app, which is now open and will close at 11am on 22 November 2021, unless oversubscribed in which case, it will close earlier. 

There is a minimum subscription of £1,000 per investor and NAVF reserves the right to scale back any order at its absolute discretion. 

The new shares will be issued free of all liens, charges and encumbrances and will, when so issued, be fully paid and rank pari passu in all respects with each other and with the company’s existing ordinary shares including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue. 

NAVF : Nippon Active Value launches share issuance programme and PrimaryBid offer

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