Source - LSE Regulatory
RNS Number : 5414K
JPEL Private Equity Limited
22 December 2022
 

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

 

 

 

COMPLETION OF ELEVENTH MANDATORY REDEMPTION

 

*              *              *

 

 

 

GUERNSEY, 22 DECEMBER 2022

 

 

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 4 April 2022 has been completed with the redemption of 4,913,205 US$ Equity Shares ("Mandatory Redemption").

 

On 21 December 2022, JPEL redeemed 4,913,205 US$ Equity Shares, on a pro rata basis, at the prevailing NAV per US$ Equity Share of $1.73 as at 30 September 2022.  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 3 January 2023. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or 3 January 2023.

 

The US$ Equity Shares will be disabled in CREST on the Record Date and the existing ISIN number GG00BMFD2F62 (the "Old ISIN") will expire.  A new ISIN number GG00BPSMLX26 (the "New ISIN") in respect of the remaining 25,375,033 US$ Equity Shares which have not been redeemed will be enabled and available for transactions on 22 December 2022 (the "Ex-date").  

 

Inclusive of this Mandatory Redemption, JPEL will have returned $525.7 million to US$ Equity Shareholders, or approximately 109.7% and 138.3% 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 and Tony Dalwood are expected, immediately following the redemption date, to hold approximately 1,977 and 10,132 US$ Equity Shares, respectively.

 

*             *                   *

 

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

JPELClientService@fortress.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
CASBKDBDKBDBFBB
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Jpel Private Equity Limited (JPEL)

$0 (0.00%)
delayed 06:56AM