JPEL Private Equity Limited Completion of 8th Mandatory Redemption (0641K)
30 Dicembre 2020 - 8:00AM
UK Regulatory
TIDMJPEL
RNS Number : 0641K
JPEL Private Equity Limited
30 December 2020
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
COMPLETION OF EIGHTH MANDATORY REDEMPTION
* * *
GUERNSEY, 30 DECEMBER 2020
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 17
December 2020 has been completed with the redemption of 46,583,760
US$ Equity Shares ("Mandatory Redemption").
On 30 December 2020, JPEL redeemed 46,583,760 US$ Equity Shares,
on a pro rata basis, at the prevailing NAV per US$ Equity Share of
$1.61 as at 31 October 2020. Such shares were cancelled
automatically following their redemption.
Fractions of shares produced by the applicable redemption ratios
have not been redeemed and so the number of shares redeemed in
respect of each shareholder has been rounded down to the nearest
whole number of shares.
Payments of redemption proceeds are expected to be effected
either through CREST (in the case of shares held in uncertificated
form) or by cheque (in the case of shares held in certificated
form) on or around 8 January 2021. Any share certificates for the
balance of holdings of shares will also be despatched to
shareholders on or around 8 January 2021.
The US$ Equity Shares were disabled in CREST on the record date
(29 December 2020) and the existing ISIN number GG00BMDQPC56 (the
"Old ISIN") has expired. The new ISIN number GG00BNDVXN48 (the "New
ISIN") in respect of the remaining 82,517,769 US$ Equity Shares
which have not been redeemed will be enabled and will be available
for transactions on 30 December 2020.
Inclusive of this Mandatory Redemption, JPEL will have returned
$414.2 million to US$ Equity Shareholders, or approximately 86.5%
and 108.9% of the Company's 31 October 2016 NAV and market
capitalization. Please note that the prevailing NAV at the time of
the Company's first mandatory redemption was 31 October 2016.
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
6,086, 7,343 and 31,191 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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