20th Apr 2016 09:15
LONDON (Alliance News) - Atlantis Japan Growth Fund Ltd, the London-listed investment trust managed by Tiburon Partners LLP, on Wednesday said it won the backing of shareholder advisory body Glass, Lewis & Co LLC ahead of a shareholder vote on a restructuring proposed by Hong Kong-based investment manager LIM Advisors.
Backing from Glass Lewis follows support from Pensions & Investment Research Consultants Ltd, another shareholder advisory, in favour of the company.
LIM, which has about USD1.7 billion in assets under management in Asian and Japanese bonds and equities, owns 14.90% of Atlantis Japan Growth Fund and wants an opportunity for shareholders to exit their investment in the trust at close to its net asset value with a possible roll-over opportunity into an open ended vehicle.
The vote is scheduled for May 3. A proposal requires at least 75% of votes cast to go its way to pass.
Shares in Atlantis Japan were down 0.5% at 139.00 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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