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

JPMorgan Emerging Europe Middle East & Africa SecuritiesAnnouncement

17/07/2025 15:00

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RNS Number : 5439R  JPMorgan Emerging EMEA Securities  17 July 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 lawsuits filed
by VTB Bank in Russia claiming $81.3 million, $74.5 million and €108 million
and the lawsuit filed by Sberbank in Russia claiming $830,183 against eight
J.P. Morgan legal entities and the Company (announced on 3rd January 2025, 3rd
July 2025, 25th March 2025 and 20th February 2025 respectively), the Board
announces the following updates from JPMorgan Funds Limited (the Company's
Manager) (in italics):

 

"The court hearings in Russia have been postponed and the following new dates
have been assigned:

 

VTB Bank claim ($81.3 million):             30th July 2025

VTB Bank claim ($74.5 million):             24th September 2025

VTB Bank claim (€108 million):             27th August 2025

Sberbank claim ($830,183):                    8th September
2025

 

J.P. Morgan continues to take appropriate legal and regulatory steps,
including, where applicable, challenging claims and appealing judgments. We
understand that the protections afforded by Russian domestic legislation, in
the context of client assets, including Decree 8, remains in place. Whilst the
specifics of any impact of these claims or their enforcement on clients'
assets would need to be considered on a case-by-case basis, they may
constitute a Force Majeure and / or Country Risk event (as defined in the
contracts that clients have with J.P. Morgan).

 

We will continue to provide further updates to our clients as the situation
develops."

 

The Board will provide further updates as the cases progress.

 

17th July 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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