Conversion of Subscription Shares

RNS Number : 1068L

JPMorgan Smaller Cos IT PLC

14 July 2017

 

14 July 2017

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN SMALLER COMPANIES INVESTMENT TRUST PLC

FINAL EXERCISE OF SUBSCRIPTION SHARE RIGHTS

Legal Entity Identifier: 549300PXALXKUMU9JM18

Information disclosed in accordance with LR 9.6.4(6)

Further to the announcement on 9 June 2017, JPMorgan Smaller Companies Investment Trust plc (the "Company") announces that it has issued 231,444 Ordinary Shares following the final exercise of Subscription Rights by certificated and uncertificated Subscription Shareholders on 30th June 2017 (the "Final Subscription Date"). These Ordinary Shares have been issued under the Company's existing block listing.

In accordance with the terms of the Subscription Shares, as set out in the prospectus published by the Company on 23rd January 2015 (the "Prospectus"), the Company appointed a Final Subscription Trustee to act on behalf of those Subscription Shareholders who had not exercised their Subscription Share Rights on or by the Final Subscription Date, representing a total of 2,695,905 Subscription Shares. The right of the Final Subscription Trustee to exercise the outstanding Subscription Shares expires today. Since the Final Subscription Date of 30 June 2017, the Ordinary Shares have traded below the Subscription Price and, accordingly, the Final Subscription Trustee has determined that it is not in the Subscription Shareholders' interest to exercise the outstanding Subscription Share Rights. Accordingly, the Subscription Share Rights attaching to the outstanding Subscription Shares have now lapsed. The Subscription Shares will shortly be redesignated as Deferred Shares and the Deferred Shares will be repurchased by the Company for a nominal value and cancelled in accordance with the terms of the Subscription Shares.

The Company's issued share capital now comprises 17,199,613 Ordinary Shares and 2,695,905 Subscription Shares (suspended and to be cancelled).  The total voting rights are 17,199,631.

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

For further information, please contact:

Divya Amin

JPMorgan Funds Limited - Company Secretary

Telephone [phone]

 

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