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

JPMorgan Emerging Europe Middle East & Africa SecuritiesAnnouncement

11/09/2025 18:30

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RNS Number : 0436Z  JPMorgan Emerging EMEA Securities  11 September 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 lawsuit filed
by VTB Bank in Russia claiming $439 million against eight J.P. Morgan legal
entities and the Company, the Board announces the following update from the
Company's Manager (in italics):

 

"On 10 September 2025, the judgment awarding damages of $439 million was
upheld on appeal in VTB's favour.

 

We expect VTB will obtain a writ of enforcement in mid-September, with which
it can collect against J.P. Morgan assets in Russia.  VTB will need to serve
the writ of enforcement on the Central Bank of Russia to start the process of
execution. We will appeal further and seek a stay of enforcement but the court
may permit enforcement to proceed in any event."

 

As previously reported in the 31st October 2024 annual report and financial
statements, Russian Decree 8 offers protection to client securities and RUB
cash in S type accounts from the enforcement of court decisions issued after
3rd January 2024. The Russian courts have so far respected this. However, the
situation remains dynamic.

 

The Board will continue to monitor the situation closely and will provide
further updates on the impact of the judgment on the Company as and when more
information becomes available.

 

11th September 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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