Result of Tender Offer and Tender Price

RNS Number : 7560V

JPMorgan Asian Investment Tst PLC

17 December 2013

 



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 14 October 2013, regarding the Board's decision to exercise its discretion to implement a 5% Tender Offer, and the subsequent Circular to Shareholders dated 21 November 2013 (the "Circular"), the Company today announces that the fully diluted cum income net asset value as at the Calculation Date was 231.9677 pence per Share. Accordingly, the Tender Price, which has been calculated in accordance with the Circular is 224.1517 pence per Share.

A total of 45,652,237 Ordinary Shares ("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 3.82445 per cent. of the excess Shares tendered.

5,041,946 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 14 October 2013 (including 9,378 Shares which were allotted following the valid submission by Subscription shareholders to exercise their Subscription Shares by 31 October 2013).

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 on 20 December 2013. It is expected that balancing certificates in respect of unsold certificated Shares will be despatched during the week commencing 2 January 2014.

Following the implementation of the Tender Offer and as of 20 December 2013, the Company will have 95,796,981 Shares in issue.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.

17 December 2013

For further information, please contact:

Alison Vincent

JPMorgan Asset Management (UK) Limited, Secretary

020 7742 4000

Will Rogers

Cenkos Securities plc, Corporate Broker

020 7397 1920

 

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