abrdn Japan proposes voluntary wind-up and rollover into Nippon Active Value

Nippon to pay transaction costs

Nippon Active Value (NAVF) is set to receive the assets of the abrdn Japan investment trust (AJIT), as part of a voluntary wind-up and rollover, following shareholder approval from both companies.

Following a period of sustained underperformance of its benchmark and trading at a persistent discount of 13.6%, AJIT is required to put a continuation vote to shareholders. As a result, the board engaged in a strategic review to determine the future of the £72m trust. abrdn Japan investment trust NAV falls 7.5% in period of 'uphill struggle' The board has in principle agreed the terms for a combination of the company, which would see the assets rolled into NAVF's £165m trust. If approved, AJIT would enter liquidation and investors would be offered new shares in NAVF on a formula a...