REG - JPMorgan Emerg. EMEA - Russian Court Order - Update

JPMorgan Emerging Europe Middle East & Africa SecuritiesAnnouncement

25/03/2025 15:30

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RNS Number : 1151C  JPMorgan Emerging EMEA Securities  25 March 2025

 

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

 

JPMORGAN EMERGING EUROPE, MIDDLE EAST & AFRICA SECURITIES PLC ('the
Company' or 'JEMA')

 

Legal Entity Identifier: 549300II3MHI98ZLVH37

 

Russian Court Order - Update

Further to the Board's previous RNS announcements regarding the three lawsuits
filed by VTB Bank in Russia claiming $439 million, $81.3 million and $74.5
million against eight J.P. Morgan legal entities and JPMorgan Emerging Europe,
Middle East & Africa Securities plc (JEMA), the Board announces the
following update from the Company's Manager regarding new litigation (in
italics):

 

" Eight J.P. Morgan legal entities and JPMorgan Emerging Europe, Middle East
& Africa Securities plc ("JEMA") have been named as defendants in a new
civil claim filed by VTB Bank PJSC ("VTB") on 20 March 2025 in the Arbitration
Court of Saint Petersburg and Leningrad Region. VTB claims damages of
€108,636,829.56 in connection with the early termination of transactions
outstanding under an ISDA Master Agreement dated 18 June 2015 between J.P.
Morgan Securities plc and VTB. VTB has also applied for an injunction to
prohibit the defendants from seeking anti-suit injunctive relief to restrain
the Russian claim. We are monitoring the proceedings."

 

In response to the above information, Eric Sanderson, the Chairman of the
Company commented that:

 

"This latest claim from VTB adds to the uncertainty of the values of the
Company's Russian assets ever being realisable. The Board also note that the
Russian court continues to allow VTB to include the Company as a defendant in
their case in addition to eight J.P.Morgan legal entities.

 

The Company's previous RNS announcements are available to view on the London
Stock Exchange website and its reports and financial statements and other
information about the Company are available to view on the Company's website.
Links to these sites are provided below:

 

https://www.londonstockexchange.com/stock/JEMA/jpmorgan-emerging-europe-middle-east-africa-securities-plc/analysis

 

www.jpmeemeasecurities.com

 

The Board will provide a further update once the court decision is announced."

 

25(th) March 2025

For further information:

Paul Winship, Neil Martin, JPMorgan Funds Limited
                        0800 20 40 20

Hugh Jonathan, Deutsche Numis
                      020 7260 1000

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