JPEL Private Equity Limited Completion of Twelfth Mandatory Redemption (7116S)
November 08 2023 - 2:00AM
UK Regulatory
TIDMJPEL
RNS Number : 7116S
JPEL Private Equity Limited
08 November 2023
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
COMPLETION OF TWELFTH MANDATORY REDEMPTION
* * *
GUERNSEY, 8 NOVEMBER 2023
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 24
October 2023 has been completed with the redemption of 3,726,644
US$ Equity Shares ("Mandatory Redemption").
On 7 November 2022, JPEL redeemed 3,726,644 US$ Equity Shares,
on a pro rata basis, at the prevailing NAV per US$ Equity Share of
$1.61 as at 30 September 2023. Such shares were cancelled
automatically following their redemption.
Fractions of shares produced by the applicable redemption ratios
have not been redeemed and so the number of shares redeemed in
respect of each shareholder has been rounded down to the nearest
whole number of shares.
Payments of redemption proceeds are expected to be effected
either through CREST (in the case of shares held in uncertificated
form) or by cheque (in the case of shares held in certificated
form) on or around 22 November 2023. Any share certificates for the
balance of holdings of shares will also be despatched to
shareholders on or around 21 November 2023.
The US$ Equity Shares will be disabled in CREST on the Record
Date and the existing ISIN number GG00BPSMLX26 (the "Old ISIN")
will expire. A new ISIN number GG00BS82YQ75 (the "New ISIN") in
respect of the remaining 21,648,389 US$ Equity Shares which have
not been redeemed will be enabled and available for transactions on
8 November 2023 (the "Ex-date").
Inclusive of this Mandatory Redemption, JPEL will have returned
$531.7 million to US$ Equity Shareholders, or approximately 111%
and 138.9% 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 and Tony Dalwood are expected, immediately following the
redemption date, to hold approximately 1,597 and 8,187 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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