Appointment of Joint Corporate Broker

RNS Number : 5070Z

J.P. Morgan Private Equity Ltd

06 February 2014

 

J.P. Morgan Private Equity Limited

Carinthia House

9-12 The Grange

St Peter Port

Guernsey GY1 4BF

www.jpelonline.com

APPOINTMENT OF JOINT CORPORATE BROKER

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GUERNSEY, 6 FEBRUARY 2014

J.P. Morgan Private Equity Limited is pleased to announce that Liberum has been appointed as its joint corporate broker, with immediate effect.  

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About J.P. Morgan Private Equity Limited

J.P. Morgan Private Equity Limited ("JPEL" or the "Company") is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL, JPZZ, JPSZ).  

On 15 January 2014, JPEL announced a strategic update, which included plans to maximize net asset value through greater emphasis on JPEL's existing post-credit crisis investment strategy.  JPEL announced that it will cease dividend and capital distributions to US$ Equity Shareholders and will continue its post-credit crisis investment strategy and will seek to invest $150 million in a concentrated portfolio of investments.  The Company also announced a proposal for the creation of Redeemable Realisation Share Class ("RRS") whereby US$ Equity shareholders would be offered the option to transfer their US$ Equity shares for RRS Shares which will entitle holders to all cash realisations from the Company's investment portfolio in proportion to their aggregate holding within the equity of the Company.  This proposal will require shareholder approval and would take effect in 24 months, after the 2015 ZDP Shares are retired.  On 15 January 2014, institutional investors purchased 84 million US$ Equity Shares through market purchases at $0.80 per share, an 8.3% premium to the 14 January 2014 share price.

The Company's capital structure consists of three classes of shares: US$ Equity Shares and two classes of Zero Dividend Preference Shares due 2015 and 2017, respectively.  

For further information please contact:

J.P. Morgan Private Equity Limited

Greg Getschow  

[phone]

[e-mail]  

Rosemary DeRise / Samantha Ladd

[phone]  / [phone]  

[e-mail] / [e-mail]

Liberum

Steve Pearce  

Richard Bootle

[phone]  

 

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