Fidelity Japan Trust PLC commences an Equity Buyback Plan for 19,536,750 shares, representing 14.99% of its issued share capital, under the authorization approved on May 18, 2021.
May 24, 2021 at 12:00 am EDT
Share
Fidelity Japan Trust PLC (LSE:FJV) commences share repurchases on May 24, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2021. As per the mandate, the company is authorized to repurchase up to 19,536,750 shares, representing 14.99% of its issued share capital. The maximum price which may be paid for each ordinary share must not be more than the higher of 105% above the average of the middle market quotations of the ordinary shares taken from the London Stock Exchange Official List for the five business days immediately preceding the day on which the share is purchased and the amount stipulated by Regulatory Technical Standards adopted by the European Commission. The minimum price which may be paid for each ordinary share is £0.25 per share. The repurchased shares will be cancelled or held in treasury. The repurchase program will expire at the conclusion of the next AGM of the Company unless such
authority is renewed prior to such time. As at March 26, 2021, the company had 136,161,695 shares in issue and 5,829,801 shares in treasury.
Fidelity Japan Trust PLC is a United Kingdom-based investment company. The Companyâs objective is to achieve long-term capital growth by investing predominantly in equities and related securities of Japanese companies. The Companyâs portfolio of investments across various sectors includes electric appliances, chemicals, services, retail trade, information and communication, machinery, wholesale trade, unlisted, precision instruments, other products, banks, glass and ceramics products, foods, other financing business, textiles and apparels, electric power and gas, metal products, nonferrous metals, construction, pharmaceutical, transportation equipment and others. The Company's investment manager is FIL Investments International (FII) and the alternative investment fund manager is FIL Investment Services (UK) Limited.
Fidelity Japan Trust PLC commences an Equity Buyback Plan for 19,536,750 shares, representing 14.99% of its issued share capital, under the authorization approved on May 18, 2021.