The chair of the CC Japan Income & Growth trust said its subscription share scheme from February last year will “expire worthless”, as the trust has struggled in the 12 months to the end of October.
In the results published today (24 January), chair Harry Wells, said the scheme had "the best of intentions and if validated by better markets would have been a good way to grow the company". A subscription share allows a holder a right, but not an obligation, to buy ordinary shares at a pre-determined price at a given date or range of dates. They had fallen out of favour in recent years, with few trusts using the tool, but several began offering them in 2020 and 2021. Year of the Rabbit: Investors warm towards China but hesitation remains The scheme from CCJI issued the scheme ...
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