Result of Tender Offer and Tender Price
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN ASIAN INVESTMENT TRUST PLC
RESULT OF TENDER OFFER AND TENDER PRICE
Further to the announcement made by JPMorgan Asian Investment Trust plc (the "Company") on 23 February 2011 regarding the passing of the Special Resolution at the General Meeting to give effect to the Tender Offer for Shares in the Company, the Board today announces that the Net Asset Value as at the Calculation Date was 236.8078 pence per Share. Accordingly, the Tender Price, which has been calculated in accordance with the Circular to Shareholders dated 19 January 2011 (the "Circular"), is 229.6233 pence per Share.
A total of 80,701,636 Shares were validly tendered under the Tender Offer. As a result, the Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 4.39 per cent. of the excess Shares tendered.
8,852,698 Shares will be repurchased by the Company under the Tender Offer and cancelled; this equates to 5% of the Company's Shares in issue at 8 December 2010.
It is expected that cheques will be despatched and CREST accounts will be credited with proceeds in respect of successfully tendered Shares and with unsold uncertificated Shares by 7 March 2011. It is expected that balancing certificates in respect of unsold certificated Shares will be despatched during the week commencing 21 March 2011.
Following the implementation of the Tender Offer, the Company will have 168,225,755 Shares in issue.
Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.
25 February 2011
For further information, please contact:
Alison Vincent
For and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary
020 7742 6000
Will Rogers
Cenkos Securities plc, Corporate Broker
020 7397 1920
This information is provided by RNS