REG - JPEL Private Equity - Completion of Twelfth Mandatory Redemption

JPEL Private EquityAnnouncement

08/11/2023 07:00

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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

 

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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.

 

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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 (mailto:JPELClientService@fortress.com)

 

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