JPEL Private Equity Limited Completion Of Fifth Mandatory Redemption (4355M)
January 08 2019 - 2:00AM
UK Regulatory
TIDMJPEL
RNS Number : 4355M
JPEL Private Equity Limited
08 January 2019
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
COMPLETION OF Fifth MANDATORY REDEMPTION
* * *
GUERNSEY, 08 JANUARY 2019
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 10
December 2018 has been completed with the redemption of 14,044,678
US$ Equity Shares ("Mandatory Redemption").
On 08 January 2019, JPEL redeemed 14,044,678 US$ Equity Shares,
on a pro rata basis, at the prevailing NAV per US$ Equity Share of
$1.78 as at 31 October 2018. Such shares were cancelled
automatically following their redemption.
Fractions of shares produced by the applicable redemption ratios
have not been redeemed and so the number of shares redeemed in
respect of each shareholder has been rounded down to the nearest
whole number of shares.
Payments of redemption proceeds are expected to be effected
either through CREST (in the case of shares held in uncertificated
form) or by cheque (in the case of shares held in certificated
form) on or around 21 January 2019. Any share certificates for the
balance of holdings of shares will also be despatched to
shareholders on or around 21 January 2019.
The US$ Equity Shares were disabled in CREST on the record date
(7 January 2019) and the existing ISIN number GG00BF1F1F02 (the
"Old ISIN") has expired. The new ISIN number GG00BFMX1M05 (the "New
ISIN") in respect of the remaining 189,682,752 US$ Equity Shares
which have not been redeemed will be enabled and will be available
for transactions on 08 January 2019.
Inclusive of this Mandatory Redemption, JPEL has returned $234.2
million to US$ Equity Shareholders, or approximately 49% of the
Company's 31 October 2016 NAV, the prevailing NAV at the time of
the Company's initial Mandatory Redemption.
DIRECTORS' INTERESTS
As a result of the Mandatory Redemption described above, Sean
Hurst, Christopher Spencer and Tony Dalwood are expected,
immediately following the redemption date, to hold approximately
13,988, 16,876 and 71,696 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
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END
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