Subscription shares exercise reminder and dividend

RNS Number : 1536C

JPMorgan Overseas IT PLC

13 October 2015

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN OVERSEAS INVESTMENT TRUST PLC

13 October 2015 

Subscription shares exercise reminder and final dividend

Further to the announcement on 25 September 2015, Subscription Shareholders are reminded that if they choose to convert their Subscription Shares into Ordinary Shares on or before 30 October 2015, they will acquire one new Ordinary Share at a fixed price of 986 pence per share for each Subscription Share converted.

On 25 September 2015 the Company announced a final dividend of 16 pence per Ordinary Share for the year ending 30 June 2015 (the "Final Dividend") to be paid on 11 December 2015 to shareholders on the register at the close of business on 13 November 2015.

Any Ordinary Shares to be issued in connection with the exercise of Subscription Share Rights on or before 30 October 2015 will be issued prior to 13 November 2015 and, as such, will be entitled to the Final Dividend.  Subscription Shareholders are under no obligation to convert their Subscription Shares at any time before they expire on 30 October 2015.

If Subscription Shareholders choose not to exercise their Subscription Share Rights, the Company will appoint a trustee (the "Final Subscription Trustee") to act on behalf of those Subscription Shareholders and, if appropriate, the Final Subscription Trustee will exercise the outstanding Subscription Share Rights and sell the Ordinary Shares resulting from such exercise in the market.

Given the uncertainties around the timing of any Final Subscription Trustee Exercise, there can be no certainty that any new Ordinary Shares issued pursuant to the Final Subscription Trustee Exercise will be issued prior to 13 November 2015 and, as such, may not be entitled to the Final Dividend. This may impact the net proceeds of sale of the Ordinary Shares after deduction of the costs of exercising the Subscription Share Rights that the investor may receive or whether the Final Subscription Trustee Exercise takes place at all.

Further details regarding the Subscription Shares are outlined in the Prospectus dated 5 December 2012, which is available by visiting the Company's website at www.jpmoverseas.co.uk 

Capitalised terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Prospectus.

For further information, please contact:

Divya Amin                            

For and on behalf of

JPMorgan Funds Limited

020 7740 4000

 

END

 

 

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