JPMorgan Elect PLC Conversion of shares (0838P)
May 23 2018 - 10:16AM
UK Regulatory
TIDMJPE TIDMJPEI TIDMJPEC
RNS Number : 0838P
JPMorgan Elect PLC
23 May 2018
JPMORGAN ELECT PLC
(the 'Company')
Conversion and Repurchase of Shares
The Company announces that valid Conversion Notices have been
received in respect of 126,886 Managed Growth Shares, 1,557,881
Managed Income Shares and 0 Managed Cash Shares.
Repurchase of Shares
662,951 Managed Cash Shares will be repurchased at a price of
101.57 pence per share based on a capital net asset value per
Managed Cash Share of 102.08 pence as at close of business on
18th May 2018. A deduction of 0.5% has been made in respect of
the stamp duty payable by the Company on the repurchase.
It is expected that cheques, in respect of the Managed Cash
Shares being repurchased, will be dispatched on 12th June 2018.
Conversion of Shares
At 8.00 a.m. on 31st May 2018, the following conversions will
take place:
Stock to Convert: Conversion Converted Total Number
Ratio: Into: of Shares
Following
the Conversion
and Repurchase*
------------------------------ ----------- ---------- -----------------
0 Managed Cash Shares to 0.119883 29,660 32,327,235
Managed Growth Shares Managed Managed Growth
Growth Shares
Shares
------------------------------ ----------- ---------- -----------------
212,018 Managed Income
Shares to Managed Growth
Shares 0.139894
------------------------------ ----------- ---------- -----------------
72,997 Managed Growth Shares 7.079198 516,760 71,699,515
to Managed Income Shares Managed Managed Income
Income Shares
Shares
------------------------------ ----------- ---------- -----------------
0 Managed Cash Shares to
Managed Income Shares 0.852799
------------------------------ ----------- ---------- -----------------
1,345,863 Managed Income 1.169867 2,022,972 6,410,689
Shares to Managed Cash Managed Managed Cash
Shares Cash Shares
Shares
------------------------------ ----------- ---------- -----------------
53,889 Managed Growth Shares
to Managed Cash Shares 8.322492
------------------------------ ----------- ---------- -----------------
* excluding shares held in Treasury
The conversion calculations were based on the relative net asset
values of the three share classes (net of accrued management
expenses and applicable costs of conversion) as at close of
business on
21st May 2018. Individual Shareholders' entitlements on
conversion will be rounded down to the nearest whole number of
shares. The resulting shares rank pari passu with the existing
shares of the relevant share class.
Admission of Shares
The Company has applied for the resulting shares to be admitted
to the Official List and to trading on the London Stock Exchange.
Dealings in such shares are expected to commence at 8.00 a.m.
on 31st May 2018. It is anticipated that Certificates in respect
of the resulting shares will be posted by 12th June 2018.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meaning given to them in the Company's
articles of association.
Legal Entity Identifier: 549300FIUYKKL39ILD07
Faith Pengelly 020 7742 4000
For and on behalf of
JPMorgan Funds Limited
23rd May 2018
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END
CONPGUWGAUPRGAW
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