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20 December 2016

Charles Russell Speechlys advises Fidelity Asian Values PLC on its bonus issue of 13,497,222 Subscription Shares

Charles Russell Speechlys LLP recently advised Fidelity Asian Values PLC, an investment trust listed on the Main Market of the London Stock Exchange, on its bonus issue of 13,497,222 Subscription Shares.

The bonus issue was approved by shareholders at the Company’s AGM on 2 December 2016, and is on the basis of one Subscription Share for every five Ordinary Shares held.

If the Subscription Share Rights were exercised in full the total net proceeds for the Company would be up to approximately £50 million.

The Company’s objective is to achieve long term capital growth principally from the stockmarkets of the Asian Region excluding Japan. Charles Russell Speechlys also advised on the Company’s previous bonus issue of subscription shares in 2010.

The Charles Russell Speechlys team advising on this transaction was led by corporate partner David Hicks and included corporate partner Nick Janmohamed and corporate associate Emily Davies.