Application to Cancel Share Premium Account

RNS Number : 3767L

JPMorgan Multi-Asset Trust plc

18 April 2018

 

18 April 2018

JPMorgan Multi-Asset Trust plc

Application to Cancel Share Premium Account

Legal Entity Identifier: 549300C0UCY8X2QXW762

JPMorgan Multi-Asset Trust plc (the "Company") has an active discount and premium management policy, with the Board recognising that it is in the interests of shareholders to maintain a share price as close as possible to the Net Asset Value per share. The policy provides for the issue of ordinary shares when demand exceeds supply and the repurchase of ordinary shares when supply exceeds demand, as and when the Directors consider it appropriate.

The Company has made an application to the Court to cancel its share premium account and thereby create a special distributable reserve alongside the Company's accumulated profits to enable the Company to repurchase ordinary shares pursuant to its discount and premium management policy. The Company expects this process to be completed in mid-May 2018 and does not anticipate undertaking share repurchases prior to this date.

The previous announcements in relation to the Company buying back a total of 1,639,968 ordinary shares were made in error and should be disregarded. Such ordinary shares were acquired by JPMorgan Asset Management Holdings (UK) Limited. The Company has 93,115,643 ordinary shares in issue, none of which are held in treasury.

For further information, please contact:

JPMorgan Funds Limited Paul Winship, Company Secretary	[phone]
Winterflood Investment Trusts Joe Winkley Neil Langford	[phone]

 

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