REG - Baillie GiffordJapan - Circular & Notice of GM to renew Buyback Authority

Baillie Gifford Japan TrustAnnouncement

Today 07:00

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RNS Number : 9695E  Baillie Gifford Japan Trust PLC  20 May 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN,
INTO OR FROM THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND
POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF
COLUMBIA), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH
AFRICA, ANY MEMBER STATE OF THE EEA OR ANY OTHER JURISDICTION IN WHICH THE
SAME WOULD BE UNLAWFUL.

20 May 2026

The Baillie Gifford Japan Trust PLC

(the "Company" or "BGFD")

 

Publication of Circular and Notice of General Meeting

to renew the Company's authority to buy back Ordinary Shares

 

The Board of BGFD announces that the Company has today published a circular
(the "Circular"), which contains a notice of a general meeting of the Company
(the "General Meeting") at which the Board will seek Shareholder approval to
renew the Company's share buyback authority. The General Meeting will be held
at 1.00 p.m. on 17 June 2026 at 3 St. Helen's Place, London EC3A 6AB.

The Board continually monitors the level of discount to net asset value per
Ordinary Share and believes that repurchasing Ordinary Shares provides the
Company's Shareholders with liquidity for their Ordinary Shares when natural
market demand is insufficient, on terms that enhance the net asset value per
share for remaining Shareholders, while at the same time dampening discount
volatility.

In the light of the Company's recent share buyback activity, the Board
anticipates that the existing authority to repurchase Ordinary Shares, granted
at the Company's last annual general meeting held on 10 December 2025 (the
"2025 AGM"), will likely be fully utilised well in advance of the Company's
2026 AGM in December, when it is next due to be refreshed. As a result, in
order to provide the Company with the ability to continue to repurchase
Ordinary Shares as and when the Board deems it appropriate, the Board is
seeking Shareholder approval for the early renewal of its authority to buy
back Ordinary Shares.

At the 2025 AGM, Shareholders granted the Company the authority to buy back up
to 11,412,102 Ordinary Shares (the "Existing Authority"). Over the period from
the 2025 AGM to close of business on the 18 May 2026, the Company has bought
back 7,790,000 Ordinary Shares into treasury, representing 68.26 per cent. of
the Existing Authority. As at close of business on 18 May 2026, the Company's
remaining buyback authority, therefore, permitted the repurchase of up to a
further 3,622,102 Ordinary Shares (representing approximately 5.30 per cent.
of the Company's issued Ordinary Share capital (excluding Ordinary Shares held
in treasury)).

The ability to repurchase Ordinary Shares is a necessary element of the
Board's approach to discount management and the Board believes that renewal of
the Company's buyback authority is in the best interests of the Company and
its Shareholders as a whole.

A copy of the Circular will be submitted to the National Storage Mechanism and
will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) . The Circular and
the Notice of the General Meeting will also be available on the Company's
website at www.japantrustplc.co.uk (http://www.japantrustplc.co.uk) .

Unless the context requires otherwise, all defined terms used in this
announcement will have the same meaning as described in the Circular.

 

 For further information please contact:
 The Baillie Gifford Japan Trust PLC                                        Contact via Company Secretary

 Sam Davis

 Investec Bank plc (Company Broker to The Baillie Gifford Japan Trust PLC)  +44 (0) 20 7597 4000

 David Yovichic and

 Helen Goldsmith

 Baillie Gifford & Co Limited (Alternative Investment Fund Manager and      +44 (0) 131 275 2000
 Company Secretary)

 Naomi Cherry

 

Notes

BGFD's Legal Entity Identifier: 54930037AGTKN765Y741

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