Completion of Mandatory Redemption_Dec 2016

RNS Number : 8938R

JPEL Private Equity Limited

15 December 2016

 

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

COMPLETION OF MANDATORY REDEMPTION

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GUERNSEY, 15 DECEMBER 2016

The Board of Directors of JPEL Private Equity Limited ("JPEL" or the "Company") is pleased to announce that the partial mandatory redemption of the Company's US$ Equity Share class announced on 30 November 2016 has been completed with the redemption of 13,521,066 US$ Equity Shares ("Mandatory Redemption").  

On 15 December 2016, JPEL redeemed on a pro rata basis 13,521,066 US$ Equity Shares at the prevailing NAV per US$ Equity Share of $1.42 as at 31 October 2016.  Such shares were cancelled automatically following their redemption.  

Fractions of shares produced by the applicable redemption ratios have not been redeemed and so the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.

Payments of redemption proceeds are expected to be effected either through CREST (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) on or around 22 December 2016. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 22 December 2016.  

Following the Mandatory Redemption, the Company has 324,424,508 US$ Equity Shares in issue.

The US$ Equity Shares were disabled in CREST on the record date (14 December 2016) and the existing ISIN number GB00B07V0H27 (the "Old ISIN") has expired.  The new ISIN number GG00BYVQ4H96 (the "New ISIN") in respect of the remaining US$ Equity Shares which have not been redeemed will be enabled and will be available for transactions on 15 December 2016.  

DIRECTORS' INTERESTS

As of 30 November 2016, Christopher Spencer and Tony Dalwood, Directors of the Company, held 30,067 and 127,747 shares, respectively.  As a result of the Mandatory Redemption described above, Christopher Spencer and Tony Dalwood now hold 28,865 and 122,636 shares, respectively.

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About JPEL Private Equity Limited

JPEL Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL) designed primarily to invest in the global private equity market.  The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well-diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market.  

ENQUIRIES:

FCF JPEL Management LLC

[e-mail]

Rosemary DeRise

[phone]

[e-mail] 

Samantha Ladd Sughrue

[phone]  

[e-mail]

 

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