TIDMAJG 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO 
  OR FROM AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OR ANY 
   OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD 
      CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH 
                                 JURISDICTION. 
 
                      Atlantis Japan Growth Fund Limited 
                           (the "Company" or "AJG") 
 
              Amendments to the Redemption Facility and Marketing 
                               17 December 2014 
 
Following the adoption of the embedded Subscription Right and in light of 
shareholder feedback during that process, the Board has reviewed the operation 
of the Company's share redemption facility. The Board of AJG believes the 
operation of the Company's share redemption facility has potentially 
disadvantaged some shareholders and is concerned whether it continues to be in 
the best interests ofshareholders as a whole. A particular issue is the 
increasing impact on the Company's total expense ratio. In dialogue with 
several of the Company's significant shareholders similar views were 
alsoexpressed to the Board. The Board has been lobbied to close the redemption 
facility completely and has considered whether that would be in the best 
interests of shareholders as a whole. 
 
In response the Board has considered a number of ways in which the redemption 
facility could be amended to address the points raised by shareholders. 
Specifically the Board, together with its advisers, has considered, inter alia: 
 
 i. Cancelling the redemption facility in its entirety; 
 
ii. Increasing the Exit Charge levied on shareholders redeeming shares from the 
    current 2% level; 
 
iii. Restricting redemptions to 5% of an individual Shareholder's shareholding 
     at each Redemption Point; or 
 
iv. A combination of one or more of the above. 
 
Accordingly, the Board has decided that it is in the best interests of 
shareholders as a whole to exercise its discretion to amend the operation of 
the redemption facility, with effect from 31 March 2015 to: 
 
 a. Increase the Exit Charge payable on redemptions of up to 5% of a 
    Shareholder's entitlement under the Redemption Facility (the "Basic 
    Entitlement") to 4% from 2%; and 
 
 b. Shareholders will continue to be entitled to request the redemption of 
    Shares in excess of their Basic Entitlement to the extent that other 
    Shareholders redeem less than their Basic Entitlement or do not seek to 
    redeem their Shares at the relevant Redemption Point (an "Excess Request"). 
    However, the Exit Charge on Excess Requests will be the rolling 90 day 
    average discount calculated in accordance with the Company's existing 
    discount control mechanism, subject to an Exit Charge cap of 10%. 
 
All other terms of the redemption facility remain unaltered. 
 
Marketing arrangements 
 
The Board is keen to build on the recent adoption of the embedded Subscription 
Right in an effort to increase the overall size of the Company. To that effect, 
AIRC, the Company's Investment Adviser is expected to shortly enter into an 
agreement with Aravis Partners, a specialist fund marketing companywith the aim 
of increasing the Company's market profile. Moreover, other profile raising 
efforts are actively under Board consideration and the Board expects to make a 
further announcement in due course. 
 
For further information, please contact: 
 
CHAIRMAN: 
Noel Lamb 
Atlantis Japan Growth Fund Limited 
020 7845 5950 
 
FINANCIAL ADVISER: 
William Marle 
John Armstrong-Denby 
Edmond de Rothschild Securities (UK) Limited 
020 7845 5950 
 
COMPANY SECRETARY 
Andrew Maiden 
Northern Trust International Fund Administration Services (Guernsey) Limited 
01481 745 368 
 
Disclaimer 
 
This announcement is not intended to constitute, and should not be construed 
as, investment advice. This announcement relating to the Company does not 
constitute or form part of, and should not be construed as an offer or 
invitation to sell or issue or any solicitation of any offer to subscribe for 
any securities in the Company in any jurisdiction nor shall it, or any part of 
it, or the fact of its distribution, form the basis of, or be relied on in 
connection with or act as any inducement to enter into, any contract therefor. 
Neither this announcement, nor any part of it nor anything contained or 
referred to in it, nor the fact of its distribution, should form the basis of, 
or be relied on in any connection with, or act as an inducement in relation to 
a decision to purchase or subscribe for or enter into any contract or make any 
other commitment whatsoever in relation to any such securities. This 
announcement does not constitute a recommendation regarding the securities of 
the Company. 
 
Edmond de Rothschild Securities (UK) Limited, which is authorised and regulated 
in the United Kingdom by the Financial Conduct Authority in the conduct of 
investment business, is acting exclusively for the Company and for no one else 
in connection with the proposals and will not be responsible to anyone other 
than the Company for providing the protections afforded to clients of Edmond de 
Rothschild Securities (UK) Limited or for providing advice in relation to the 
proposals or any matter referred to in this document. 
 
The Ordinary Shares have not been, nor will they be, registered under the US 
Securities Act of 1933, as amended or with any securities regulatory authority 
of any state or other jurisdiction of the United States or under the applicable 
securities laws of Canada, Australia, the Republic of South Africa or Japan or 
any other jurisdiction that is a member state of the European Economic Area 
(other than the United Kingdom). Subject to certain exceptions, the Ordinary 
Shares may not be offered or sold in the United States, Canada, Australia, the 
Republic of South Africa, Japan, or any other jurisdiction that is a member 
state of the European Economic Area (other than the United Kingdom) or to or 
for the account or benefit of any national, resident or citizen of any member 
state of the European Economic Area (other than the United Kingdom), Canada, 
Australia, the Republic of South Africa, Japan or any person located in the 
United States. The distribution of this announcement in other jurisdictions may 
be restricted by law and the persons into whose possession this announcement 
comes should inform themselves about, and observe, any such restrictions. 
 
 
 
END
Atlantis Japan Growth Fu... (LSE:AJG)
Historical Stock Chart
From Aug 2024 to Sep 2024 Click Here for more Atlantis Japan Growth Fu... Charts.
Atlantis Japan Growth Fu... (LSE:AJG)
Historical Stock Chart
From Sep 2023 to Sep 2024 Click Here for more Atlantis Japan Growth Fu... Charts.