23 February 2024
JPMorgan Mid Cap Investment
Trust plc
Legal
Entity Identifier: 549300QED7IGEP4UFN49
Result of
Elections
In connection with the proposals for
a combination of JPMorgan Mid Cap
Investment Trust plc (the "Company" or "JMF") with
JPMorgan UK Smaller Companies Investment Trust plc
(to be renamed JPMorgan UK Small Cap Growth &
Income plc) ("JMI") by way of a scheme of
reconstruction of the Company under section 110 of the Insolvency
Act 1986 (the "Scheme"),
the Board of the Company is pleased to announce the following
Elections in connection with the Scheme:
Rollover Option: 18,316,856
Shares
Cash Option: 5,436,381
Shares
The Cash Option, which is limited to
15 per cent. of the Shares in issue, was therefore
oversubscribed. Accordingly, the Basic Entitlement of all
Shareholders who have validly elected or deemed to have elected for
the Cash Option will be accepted in full and Excess Applications
for the Cash Option will be scaled back into New JMI Shares on a
pro rata basis. Excess Applications will be satisfied to the
extent of approximately 33.08 per cent. of the Excess Applications
made.
In accordance with the Scheme,
eligible Shareholders that made no Election have been deemed to
have elected for the Rollover Option. Excluded Shareholders
have been deemed to have elected for their Basic Entitlement in
respect of the Cash Option and to receive New JMI Shares for the
remainder of their shareholding.
Accordingly, after scaling back
Excess Elections, 85 per cent. of the Company's Shares will roll
over into JMI, with the balance receiving the Cash Option.
Therefore, the Shares will be reclassified as follows:
18,316,856 Shares with "A" rights,
being the right to receive New JMI Shares; and
3,232,386 Shares with "B" rights,
being the right to receive cash.
The listing of the Company's
Reclassified Shares is expected to be suspended at 7.30 a.m. on 27
February 2024.
Unless otherwise defined, all
capitalised terms used but not defined in this announcement shall
have the meaning as given to them in the Company's circular to
Shareholders dated 23 January 2024 (the "Circular").
The Circular is available for
viewing on the Company's website at
www.jpmmidcap.co.uk
and at the National
Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For further information please
contact:
|
JPMorgan Mid Cap Investment Trust plc
John Evans
|
Contact via Company
Secretary
|
|
JPMorgan Funds Limited
Simon Crinage
Fin Bodman
|
+44 (0) 20 7742 4000
|
|
JPMorgan Funds Limited (Company Secretary)
|
+44 (0) 20 7742 4000
|
|
Alison Vincent
|
|
|
|
|
|
Investec Bank
plc
David Yovichic
Tom Skinner
Helen Goldsmith
|
+44 (0) 20 7597 4000
|
