JPMorgan Elect PLC Results of Scheme - Replacement Announcement (8173Q)
December 02 2016 - 3:48AM
UK Regulatory
TIDMJPE TIDMJPEI TIDMJPEC
RNS Number : 8173Q
JPMorgan Elect PLC
02 December 2016
JPMorgan Elect plc
This announcement replaces RNS 7114Q released at 11.35am on 1
December 2016. That announcement incorrectly referred to the issue
price of Managed Growth and Managed Income Shares. The correct
announcement is set out in full below:
Scheme of Reconstruction of JPMorgan Income & Growth
Investment Trust plc - Result of Scheme
Further to the shareholder circular dated 26 October 2016 (the
"Circular") relating to the issue of New Elect Shares in connection
with the reconstruction of JPMorgan Income & Growth Investment
Trust plc (the "Scheme") the Board of JPMorgan Elect plc ("JPM
Elect" or the "Company") is pleased to announce that the Company
will acquire approximately GBP21.5 million of net assets from
JPMorgan Income & Growth Investment Trust plc pursuant to the
terms of the Scheme in consideration for the issue of 313,428
Managed Growth Shares, 18,059,588 Managed Income Shares and 422,142
Managed Cash Shares.
Application has been made for the New Elect Shares to be
admitted to the premium segment of the Official List of the
Financial Conduct Authority (the "FCA") and to trading on the main
market for listed securities of the London Stock Exchange
(together, "Admission"). It is expected that Admission will take
place at 8.00am on
2 December 2016. New Elect Shares will be issued at a 1.00%
premium to NAV as calculated on 28 November 2016. This will result
in the following issue prices:
-- Managed Growth - 685.6688 pence per share
-- Managed Income - 104.8077 pence per share
-- Managed Cash - 102.4847 pence per share
Further to the issue of the New Elect Shares noted above the
Company's share capital consists of:
Share Class Number Shares Shares Share Voting
of Shares in Treasury Excluding Voting Rights
those Numbers
in Treasury
---------------- ----------- ------------- ------------- --------- ------------
Managed Growth 37,792,392 3,879,111 33,913,281 6.64 225,184,186
---------------- ----------- ------------- ------------- --------- ------------
Managed Income 71,962,135 2,554,411 69,407,724 1.06 73,572,187
---------------- ----------- ------------- ------------- --------- ------------
Managed Cash 4,151,515 0 4,151,515 1.02 4,234,545
---------------- ----------- ------------- ------------- --------- ------------
Total Voting
Rights 302,990,919
---------------- ----------- ------------- ------------- --------- ------------
In accordance with Article 9 of the Company's Articles of
Association, the number of voting rights per shareholder is equal
to the relevant Share Voting Number for the respective class of
share held, multiplied by the number of shares of that class held
by the holder of that class of share.
The Share Voting Number, in respect of a class of share, is
defined as the number equal to the Net Asset Value of that pool
divided by the number of shares in that pool calculated at the
Voting Calculation Date. Voting Calculation Date means the last day
of the preceding financial year. Therefore, the total number of
voting rights in the Company is 302,990,919.
The Share Voting Numbers used to calculate the Company's voting
rights are as follows:
-- Managed Growth - 6.64
-- Managed Income - 1.06
-- Managed Cash - 1.02
The above Total Voting Rights figure may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules. To calculate the numerator,
shareholders are required to multiply their holding in Managed Cash
Shares, Managed Growth Shares and/or Managed Income Shares, as the
case may be, by the Share Voting Number for that class as detailed
above.
Capitalised terms used but not defined in this announcement will
have the same meaning as set out in the Circular.
For further information:
Richard Plaskett
JPMorgan Funds Limited, Client Director
020 7742 3422
Rhys Williams
JPMorgan Funds Limited, Company Secretary
020 7742 5073
David Benda/Harry Trueman
Corporate broker to Elect in respect of the proposals, Numis
Securities Limited
020 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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