Completion of Ninth Mandatory Redemption

RNS Number : 3713I

JPEL Private Equity Limited

12 August 2021

 

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

COMPLETION OF NINTH MANDATORY REDEMPTION

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GUERNSEY, 12 AUGUST 2021

The Board of Directors of JPEL Private Equity Limited ("JPEL" or the "Company") is pleased to announce that the partial mandatory redemption of the Company's US$ Equity Share class announced on 5 August 2021 has been completed with the redemption of 42,499,886 US$ Equity Shares ("Mandatory Redemption").

On 12 August 2021, JPEL redeemed 42,499,886 US$ Equity Shares, on a pro rata basis, at the prevailing NAV per US$ Equity Share of $2.00 as at 30 June 2021. Such shares were cancelled automatically following their redemption.

Fractions of shares produced by the applicable redemption ratios have not been redeemed and so the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.

Payments of redemption proceeds are expected to be effected either through CREST (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) on or around 19 August 2021. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 20 August 2021.

The US$ Equity Shares were disabled in CREST on the record date (11 August 2021) and the existing ISIN number GG00BNDVXN48 (the "Old ISIN") has expired. The new ISIN number GG00BM8B8T38 (the "New ISIN") in respect of the remaining 40,017,883 US$ Equity Shares which have not been redeemed will be enabled and will be available for transactions on 12 August 2021.

Inclusive of this Mandatory Redemption, JPEL will have returned $499.2 million to US$ Equity Shareholders, or approximately 104.2% and 131.3% of the Company's 31 October 2016 NAV and market capitalization. Please note that the prevailing NAV at the time of the Company's first mandatory redemption was 31 October 2016. 

DIRECTORS' INTERESTS

As a result of the Mandatory Redemption described above, Sean Hurst, Christopher Spencer and Tony Dalwood are expected, immediately following the redemption date, to hold approximately 2,953, 3,563 and 15,133 US$ Equity Shares, respectively.

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About JPEL Private Equity Limited

JPEL Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL) designed primarily to invest in the global private equity market. The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well-diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market. 

ENQUIRIES:

FCF JPEL Management LLC

[e-mail]

 

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