LONDON (Alliance News) - Atlantis Japan Growth Fund Ltd Wednesday proposed the introduction of an annual subscription right mechanism with the aim of increasing its assets over the next five years.
In a statement, Atlantis Japan Growth Fund said shareholders are to be given each a year a 1:5 subscription right over new shares. The subscription price will be predetermined.
Atlantis Japan Growth Fund also wants to increase its market capitalisation and decrease its expense ratio.
Shareholders representing 36.79% of the company's issued share capital have given irrevocable undertakings to vote in favour of the proposals, Atlantis Japan Growth Fund said.
Shareholders will vote on the proposals at an extraordinary general meeting on October 22.
Atlantis Japan Growth Fund shares Wednesday closed down 1.3% at 118.00 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.