Share Buyback Policy

JPMorgan European Discovery Trust

06 December 2023

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN EUROPEAN DISCOVERY TRUST PLC

(the 'Company')

Share Buyback Policy

Legal Entity Identifier: 54930049CEWDI46Y3U28

JPMorgan European Discovery Trust plc announces an update on its existing share buyback policy.

Share buy-backs will continue to be made pursuant to the authority granted to the Company at its Annual General Meeting held on 19th July 2023 (the 'AGM') which limits purchases of Ordinary Shares to 14.99% of the Company's issued capital.

Since the AGM, the Company has purchased 2,940,953 Ordinary Shares.

The Company has remaining authority to repurchase a maximum of 20,664,539 Ordinary Shares before the next AGM of the Company (or such other general meeting of shareholders at which authority to buy back shares is obtained). Share buy-backs will be undertaken pursuant to the Company's discount management programme.

Cavendish Securities plc (formerly Cenkos Securities plc) has been appointed by the Board to execute the repurchases of the Ordinary Shares, which will be in accordance with Chapter 12 of the Listing Rules and the Company's general authority to repurchase shares.

The buy-back of Ordinary Shares on any trading day may represent a significant proportion of the daily trading volume in the Shares on the Exchange (and could exceed the 25% limit of the average daily trading volume of the preceding 20 business days as referred to in the Commission Delegated Regulation (EU) No. 2016/1052 on buy-back programmes (as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018)).

6 December 2023

For further information, please contact:                                                  

Priyanka Vijay Anand

JPMorgan Funds Limited

0800 20 40 20 (or [phone])

Will Talkington (Corporate Finance)

Andrew Worne (Corporate Broking)

Daniel Balabanoff (Sales)

Cavendish Securities plc

[phone]

 

END