Terms & Conditions

PLEASE READ THESE TERMS CAREFULLY BEFORE USING THIS SITE

Last updated: 7 January 2020

Our website is directed to people residing in the United Kingdom and Belgium https://www.nipponactivevaluefund.com (“our site”). We do not represent that content available on or through our site is appropriate for use or available in other locations. The information in this site does not constitute an offer or solicitation of an offer to buy or sell any investments or to engage in any investment activity in any jurisdiction where such activity would be contrary to local law or regulation. Persons in jurisdictions where these activities are restricted or prohibited must not access or use this site. It is your responsibility to be aware of and comply with any relevant laws or regulations applicable in your jurisdiction.

What’s in these terms?

These terms tell you the rules for using our site. For the purposes of these terms “our site” does not include services which are provided by us which you may initially access and/or register for via our site – these services are subject to separate terms as described below.

Who we are and how to contact us

https://www.nipponactivevaluefund.com is a site operated by Nippon Active Value Fund plc (“we”, “us”, “our”). We are registered in England and Wales under company number 12275668 and have our registered office at Mermaid House, 2 Puddle Dock, London, United Kingdom, EC4V 3DB.

We are a public limited company.

To contact us, please info@nipponactivevaluefund.com

By using our site you accept these terms

By using our site, you confirm that you accept these terms of use and that you agree to comply with them.

If you do not agree to these terms, you must not use our site.

We recommend that you print a copy of these terms for future reference.

There are other terms that may apply to you

Our Privacy Policy sets out how we use your personal data (see How we may use your personal information below).

We may make changes to these terms

We amend these terms from time to time. Every time you wish to use our site, please check these terms to ensure you understand the terms that apply at that time.

We may make changes to our site

We may update and change our site from time to time to reflect changes to our services, our users’ needs and our business priorities.

We may suspend or withdraw our site

Our site is made available free of charge.

We do not guarantee that our site, or any content on it, will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of our site for business and operational reasons. We will try to give you reasonable notice of any suspension or withdrawal.

You are also responsible for ensuring that all persons who access our site through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.

How you may use material on our site

We are the owner or the licensee of all intellectual property rights in our site, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

Our status (and that of any identified contributors) as the authors of content on our site must always be acknowledged.

You must not use any part of the content on our site for commercial purposes without obtaining a licence to do so from us or our licensors.

You may download or print out a hard copy of pages from this site or the material made available on it for your personal reference. However, you must not make any copy of the material on this site for public or commercial use without our prior written consent. You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way.

If you print off, copy or download any part of our site in breach of these terms of use, your right to use our site will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

Information about the Company

You may obtain copies of any prospectus, together with any supplementary prospectus, if published, and the annual and interim report and accounts issued by us from time to time free of charge by contacting us at Mermaid House, 2 Puddle Dock, London, United Kingdom, EC4V 3DB, or these can be downloaded directly from this site once they are available.

We do not provide financial, investment, tax or other advice. If you are unsure as to whether an investment in us is suitable for you, you should seek your own professional advice.

Risk Warnings

It should not be assumed that an investment into us will be profitable. Past performance is not necessarily a guide to future performance. The value of investments and the income from them may fall as well as rise, may be affected by changes in rates of exchange, and you may not get back the amount of your original investment.

Our trade marks

You are not permitted to use our trade marks without our approval, unless they are part of material you are using as permitted under How you may use material on our site.

Do not rely on information on this site

The content on our site is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date.

Certain information contained on our site may from time to time include information that relates to specified investments or regulated activity. In such circumstances, your attention is drawn to any disclaimers or terms and conditions stated on such information.

Our shares are admitted to trading on the Specialist Fund Segment of the London Stock Exchange. The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk of investing in companies admitted to the Specialist Fund Segment. Further, the shares are only suitable for investors: (i) who understand and are willing to assume the potential risks of capital loss; (ii) for whom an investment in the shares is part of a diversified investment programme; and (iii) who fully understand and are willing to assume the risks involved in such investment. It should be remembered that the price of the shares can go down as well as up and that investors may not receive, on the sale or cancellation of the shares, the amount that they invested. If you are in any doubt about the contents of this website, you should consult your accountant, legal, professional or financial advisers.

We are not responsible for websites we link to

Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.

We have no control over the contents of those sites or resources.

Our responsibility for loss or damage suffered by you

We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation.
We exclude all implied conditions, warranties, representations or other terms that may apply to our site or any content on it.
We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:
- use of, or inability to use, our site; or
- use of or reliance on any content displayed on our site.
In particular, we will not be liable for:
- loss of profits, sales, business, or revenue;
- business interruption;
- loss of anticipated savings;
- any loss of data or damage to equipment following use of our site (including, but not limited to, any such damage or loss caused due to any technologically harmful material which may have infected our site);
- loss of business opportunity, goodwill or reputation; or
- any indirect or consequential loss or damage.

You shall indemnify us from and against all actions, claims, proceedings, costs and damages (including any damages or compensation paid by us on the advice of our legal advisors to compromise or settle any claim) and all legal costs or expenses arising out of your use of the site and any breach by you of any terms and conditions contained in these terms and conditions.

How we may use your personal information

We will only use your personal information as set out in our privacy and cookies policy

We are not responsible for viruses and you must not introduce them

We do not guarantee that our site will be secure or free from bugs or viruses.

You are responsible for configuring your information technology, computer programmes and platform to access our site. You should use your own virus protection software.

You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to our site, the server on which our site is stored or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our site will cease immediately.

Rules about linking to our site

You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it. Any link must not suggest or imply that our site is appropriate for domestic or private use by consumers.

You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists.

You must not establish a link to our site in any website that is not owned by you.

Our site must not be framed on any other site, nor may you create a link to any part of our site other than the home page.

We reserve the right to withdraw linking permission without notice.

If you wish to link to or make any use of content on our site other than that set out above, please contact us (see Who we are and how to contact us above).

Which country’s laws apply to any disputes?

These terms of use, their subject matter and their formation (and any non-contractual disputes or claims) are governed by English law. We both agree to the exclusive jurisdiction of the courts of England and Wales.

THE WEBSITE YOU ARE SEEKING TO ACCESS IS MADE AVAILABLE BY NIPPON ACTIVE VALUE FUND PLC (THE “COMPANY”) IN GOOD FAITH AND IS PROVIDED FOR INFORMATION PURPOSES ONLY.

THE INFORMATION CONTAINED ON THIS WEBSITE IS INTENDED FOR PERSONS IN THE UNITED KINGDOM ONLY AND IN PARTICULAR IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (“EEA“), THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISIDICTION WHERE ITS RELEASE, PUBLICATION OR DISTRIBUTION IS OR MAY BE UNLAWFUL.

Please read this notice carefully – it applies to all persons who view this website. Please note that the terms set out below may be altered or updated without notice. You should read the following provisions in full each time you visit the site.

The information on this website is intended for, and may be accessed only by, persons in the United Kingdom. Viewing the materials you are seeking to access may not be lawful in other jurisdictions.

The information on this website is for information purposes only and does not constitute or form a part of any offer or invitation to sell or issue, or the solicitation of any offer to purchase or subscribe for, securities. Any subscription for securities in the Company may be made only pursuant to the prospectus that provides detailed information about the Company and the securities to be offered (the “Prospectus“). Particular attention should be paid to the “risk factors” section of the Prospectus which highlights specific risks relating to the Company.

The information on this website is based on information which is otherwise publicly available and, whilst the Company uses all reasonable efforts to ensure the information on this website is accurate and up to date, no representations or warranties are given as to the reliability, accuracy or completeness of the information on this website. The Company accepts no liability for any loss or damage which may arise directly or indirectly from any use of or reliance on such information. To the maximum extent permitted by law, the Company excludes all warranties, conditions, terms, undertakings, and representations (excepting fraudulent misrepresentation) of any kind, express or implied, statutory or otherwise in connection with the Company’s website and the materials contained therein. Nothing in these terms and conditions shall be taken to limit or exclude any liability which may not otherwise be limited or excluded under applicable law.

As some of the Company’s investments may be unquoted, net asset value figures in relation to the Company may be based wholly or partly on estimates of the values of the Company’s investments, which estimates may themselves have been subject to no verification or auditing process or may relate to a valuation at a date before the relevant net asset valuation for the Company, or which have otherwise been estimated by the Company’s advisers. Other information on this website may be historic and/or may no longer be of relevance. The Company reserves the right to add to, modify or delete any information on this site at any time.

Reference in this website or the materials therein to any hypertext link, product, process or service does not imply the Company’s support for, or endorsement or recommendation of the provider thereof or the product, process, or service to which reference is made. This website may contain hypertext links to other websites, resources, or other third parties. The Company is not responsible for the availability of, and accepts no liability in relation to, these external websites or their contents. The Company is not a sponsor, partner, promoter, or publisher of any such website.

Information contained in this website which relates to the net asset value performance of the Company may not be indicative of how the Company’s investments may perform in the future. The information on the pages that follow may contain forward-looking statements. Any statement other than a statement of historical fact is a forward-looking statement. Actual results may differ materially from those expressed or implied by any forward-looking statement. Moreover the values of such investments may fluctuate considerably and the historic net asset values shown for the Company take no account of the costs or practical difficulties of realising some or all of such investments. The value of investments offered through or mentioned in the site may go down as well as up and investors may not get back the amount invested. No assurance can be given that the investment objective will be achieved. Information on past performance, where given, is not necessarily a guide to future performance. Changes in rates of exchange between currencies may cause the value of investments to decrease or increase. The information on the site is provided solely for information and does not constitute investment advice or personal investment recommendations. Investments offered through or mentioned in the site may not be suitable for all recipients and in each case potential investors are advised not to take any investment decision unless they have taken independent advice from an advisor authorised under FSMA.

As a result of the Financial Conduct Authority (“FCA“) rules determining which investment products can be promoted to retail investors, certain investment products are classified as “non-mainstream pooled investment products” and face restrictions on their promotion to retail investors. The Company has concluded that the distribution of its shares, being shares in an investment trust, is not restricted as a result of the FCA rules described above. The Company currently conducts its affairs so that the shares issued by the Company can be recommended by financial advisers to retail investors and intends to continue to do so for the foreseeable future.

No securities of the Company have been or will be registered under the US Securities Act of 1933, as amended (the “Securities Act“) or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, in or into the United States, or to or for the account or benefit of any US person (within the meaning of Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. In addition, the Company has not been, and will not be, registered under the United States Investment Company Act of 1940, as amended. There will be no public offer of securities in the United States.

If you are not permitted to view this website or are in any doubt as to whether you are permitted to view this website, please exit this website immediately. The contents of this website must not be released or otherwise forwarded, distributed or sent, directly or indirectly, in whole or in part, outside the United Kingdom and in particular in or into any Member State of the EEA, the United States, Australia, Canada, the Republic of South Africa or Japan or any other jurisdiction where the distribution of such materials would or may breach any applicable law or regulation or would require any registration or licensing within such jurisdiction. Persons receiving any such materials (including, without limitation, custodians, nominees and trustees) should observe these restrictions and must not, directly or indirectly, in whole or in part, forward, distribute or send them in, into or from any jurisdiction outside the United Kingdom. Neither the Company, FundRock Management Company (Guernsey) Limited (“FundRock“), Rising Sun Management Ltd. (“RSM“) nor their respective advisers accept any responsibility for any violation by any person of any of these restrictions.

Basis of access

Access to this website is for information purposes only. Any person seeking access to this website represents and warrants to the Company, FundRock and RSM that they are doing so for information purposes only. Making this website available does not constitute an offer to issue or sell or the solicitation of an offer to subscribe for or buy securities in the Company. Further, it does not constitute a recommendation by the Company, FundRock , RSM or any associated company or any other person to subscribe for or buy securities in the Company. The information on this website is general in nature and does not in any way constitute investment, tax, legal or other advice.

None of the Company, FundRock, RSM or any other person has, or accepts, any responsibility or duty to update any information, document or announcement contained on this website and the Company reserves the right to add to, remove or amend any information available on this website at any time.

Shore Capital Stockbrokers Limited (“Shore Capital“), which is authorised and regulated by the Financial Conduct Authority (FCA number 1446629), is acting exclusively for the Company and no-one else in connection with the Placing Programme as defined and described in the Prospectus. Shore Capital will not be responsible to anyone other than the Company for providing the protections afforded to clients of Shore Capital or for providing advice in relation to the Placing Programme.

Joh. Berenberg, Gossler & Co. KG, London Branch (“Berenberg“) which is authorised by the German Federal Financial Authority (BaFin) and which is authorised and regulated by the Financial Conduct Authority (FCA number 959302), is acting exclusively for the Company and no-one else in connection with the Schemes and the Placing Programme as defined and described in the Prospectus. Berenberg will not be responsible to anyone other than the Company for providing the protections afforded to clients of Berenberg or for providing advice in relation to the Schemes, the Placing Programme or the other arrangements described in the Prospectus.

Apart from the responsibilities and liabilities, if any, which may be imposed on Shore Capital or Berenberg by the Financial Services and Markets Act 2000, as amended, or the regulatory regime established thereunder, neither Shore Capital nor Berenberg accepts any responsibility whatsoever for the contents of this website or the Prospectus or for any statement made or purported to be made by it, or on its behalf, in connection with the Company, the Schemes, the Placing Programme or any other transaction or arrangement referred to in the Prospectus. Each of Shore Capital and Berenberg accordingly disclaims all and any liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of such material or any such statement.

The information on this website is general in nature and may be subject to amendment and updating without notice. None of the Company, FundRock RSM nor any other person guarantees the accuracy or completeness of any information on this website and each such person disclaims all representations and warranties, whether express or implied, to the greatest extent permitted by applicable law and regulation. By continuing to use this website, you agree to the exclusion by such persons, to the greatest extent permitted by applicable law and regulation, of any and all liability for any direct, indirect, punitive, consequential, incidental, special or other damages, including, without limitation, loss of profits, revenue or data arising out of or relating to the provision of and your use of this website and its content.

Neither the Company, its directors, FundRock, RSM nor any other person accepts any responsibility in respect of any information contained on any other website which may be linked to or from this website.

The agreement between you and the Company relating to your use and browsing of the Company’s website is governed by and shall be construed in accordance with the laws of England and Wales and you agree that the Courts of England shall have exclusive jurisdiction over any disputes arising in relation to such use and browsing. These terms and conditions may not be modified unless the Company agrees in writing.

Use of Cookies

The Company uses cookies to track where you are accessing this website from. For further details of the types of cookie we use please refer to our Privacy and Cookies policy.

By clicking on the “Proceed” button below, you confirm, represent and warrant to the Company, FundRock and to RSM that you are located in the United Kingdom and you agree that you will not forward, distribute or send any materials contained in this website to any person outside the United Kingdom.

I have read and understood the terms set out above, which I understand may affect my rights and I agree to be bound by those terms. By clicking on the “Proceed” button below, I confirm that I am permitted to access the website.