Result of Tender Offer

RNS Number : 0806K

JPMorgan European Smaller Co.

08 July 2011

 



JPMORGAN EUROPEAN SMALLER COMPANIES TRUST PLC

LONDON STOCK EXCHANGE ANNOUNCEMENT

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN

8 July 2011

Results of General Meeting and Tender Offer

Following a General Meeting of the Company, which was held on 8 July 2011, the Board is pleased to announce that Shareholders voted in favour of the special resolution to implement the tender offer of 5 per cent. of the Shares in issue on 16 May 2011 (the "Tender Offer").

The full text of the resolution can be found in the Notice of General Meeting contained in the circular dated 7 June 2011 (the "Circular") which is available for viewing on the Company's website at (http://www.jpmeuropeansmallercompanies.co.uk).

Following the passing of the special resolution to give effect to the Tender Offer, the Board announces that a total of 18,590,645 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 3.34 per cent. of excess Shares tendered.

Under the Tender Offer, 2,155,937 Shares will be repurchased by the Company; this equates to 5 per cent. of the Company's Shares in issue at 17.30 on 16 May 2011.  All Shares tendered will be cancelled.

Expected timetable

Calculation date for the tender price	13th July
Tender price announced	15th July
Settlement date: cheques despatched and payments through CREST made and CREST accounts settled	28th July
Balancing share certificates despatched	Week commencing 15th August

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

For further information please contact:

JPMorgan Asset Management (UK) Limited

Jonathan Latter                                [e-mail]                               [phone]        

Cenkos Securities plc                    

Will Rogers                                        [e-mail]                                                 [phone]

Chris Lunn                                         [e-mail]                                                      [phone]

Cenkos Securities Plc, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as the adviser to the Company and is acting for no-one else in connection with the Tender Offer and the contents of this announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Cenkos Securities Plc nor for providing advice in connection with the Tender Offer and the contents of this announcement or any other matter referred to herein.

Cenkos Securities Plc is not responsible for the contents of this announcement.

 

END

 

 

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