JPEL Private Equity Limited Completion Of Third Mandatory Redemption (2815Z)
14 December 2017 - 6:00PM
UK Regulatory
TIDMJPEL
RNS Number : 2815Z
JPEL Private Equity Limited
14 December 2017
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
COMPLETION OF THIRD MANDATORY REDEMPTION
* * *
GUERNSEY, 14 DECEMBER 2017
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 1
December 2017 has been completed with the redemption of
approximately 45.2 million US$ Equity Shares ("Mandatory
Redemption").
On 14 December 2017, JPEL redeemed approximately 45.2 million
US$ Equity Shares, on a pro rata basis, at the prevailing NAV per
US$ Equity Share of $1.66 as at 31 October 2017. Such shares were
cancelled automatically following their redemption.
Fractions of shares produced by the applicable redemption ratios
have not been redeemed and so the number of shares redeemed in
respect of each shareholder has been rounded down to the nearest
whole number of shares.
Payments of redemption proceeds are expected to be effected
either through CREST (in the case of shares held in uncertificated
form) or by cheque (in the case of shares held in certificated
form) on or around 21 December 2017. Any share certificates for the
balance of holdings of shares will also be despatched to
shareholders on or around 21 December 2017.
The US$ Equity Shares were disabled in CREST on the record date
(13 December 2017) and the existing ISIN number GG00BYWVH414 (the
"Old ISIN") has expired. The new ISIN number GG00BD25J512 (the "New
ISIN") in respect of the remaining US$ Equity Shares which have not
been redeemed will be enabled and will be available for
transactions on 14 December 2017.
Inclusive of this Mandatory Redemption, JPEL will have returned
$184.2 million to US$ Equity Shareholders, or approximately 38% of
the Company's 31 October 2016 NAV, the prevailing NAV at the time
of the Company's initial Mandatory Redemption.
DIRECTORS' INTERESTS
As of 30 November 2017, Sean Hurst, Christopher Spencer and Tony
Dalwood, Directors of the Company, owned 6,501, 23,454 and 99,646
shares, respectively. As a result of the mandatory redemption
described above, Sean Hurst, Chris Spencer and Tony Dalwood will,
immediately following the redemption date, hold approximately
5,387, 19,435 and 82,568 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 company news service from the London Stock Exchange
END
MSCEAKADFANXFFF
(END) Dow Jones Newswires
December 14, 2017 02:00 ET (07:00 GMT)
Jpel Private Equity (LSE:JPEL)
Historical Stock Chart
From Apr 2024 to May 2024
Jpel Private Equity (LSE:JPEL)
Historical Stock Chart
From May 2023 to May 2024