REG - JPMorgan Global Core JPM Glbl Core - JARU JPM Glbl Core - JARE - COMPULSORY PARTIAL REDEMPTION OF SHARES

JPMorgan Global Core Real AssetsAnnouncement

06/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250206:nRSF0897Wa&default-theme=true

RNS Number : 0897W  JPMorgan Global Core Real Assets Ld  06 February 2025

LONDON STOCK EXCHANGE ANNOUNCEMENT

 

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

("JARA" or the "Company")

 

COMPULSORY PARTIAL REDEMPTION OF SHARES

 

 

Legal Entity Identifier: 549300D8JHZTH6GI8F97

 

Further to the approval given by the Company's shareholders to allow
compulsory redemptions of the Company's ordinary shares ("Shares") as
described in the circular dated 3 December 2024 (the "Circular"), the Company
today announces that it will return approximately £33.7m by way of a
compulsory partial redemption of up to 34,753,090 Shares (the "First
Redemption") on 27 February 2025 (the "Redemption Date").

As at today's date, the Company has 219,407,952 Shares in issue, of which
13,587,814 are held in treasury. Approximately 16.9% of the Company's issued
share capital (excluding shares held in treasury) will therefore be redeemed.
The Redemption Price per Share will be 97.0465 pence, being the NAV per Share
as at 31 January 2025 adjusted to take into account the costs of the
redemption, with the amount to be applied to the redemption comprising monies
from the Company's existing cash balances. The First Redemption will be
effected pro rata by reference to shareholdings on the register as at close of
business on 27 February 2025 (the "Redemption Record Date").

Fractions of Shares will not be redeemed and so the number of Shares held by
each shareholder to be redeemed compulsorily on the Redemption Date will be
rounded down to the nearest whole number of Shares. Any Shares which have
traded on or before the Redemption Date, but have not settled, will be
included in the First Redemption.

On this basis, a holder of 10,000 Shares will have 1,688 Shares redeemed, and
will receive £1,638 in cash.

All Shares that are redeemed will be cancelled with effect from the Redemption
Date. Accordingly, once redeemed, such Shares will be incapable of transfer.

It is estimated that all proceeds of the partial compulsory redemption will be
effected either through CREST (in the case of Shares held in uncertificated
form) or paid by cheque (in the case of Shares held in certificated form) in
pounds Sterling within fourteen business days of the Redemption Date, or as
soon as practicable thereafter (the "Redemption Payment Date").

The Shares will be disabled in CREST after close of business on the Redemption
Date and the existing ISIN number GG00BJVKW831 (the "Old ISIN") will expire at
the same time.

The new ISIN number GG00BP6KKQ44 (the "New ISIN") in respect of the remaining
Shares which have not been redeemed, and which will be in issue and listed
following the Redemption Date, will be enabled and available for transactions
from and including 28 February 2025.

Up to and including the Redemption Date, the Shares will continue to be traded
under the Old ISIN. Any purchaser of Shares trading under the Old ISIN who is
not on the register as at the Redemption Record Date will have a market claim
for a proportion of the redemption proceeds. CREST will automatically
transform any open transactions as at the Redemption Date into the New ISIN.

Shareholders should note that the Board retains absolute discretion as to the
execution, extent and timing of any further redemptions.

Expected timetable for redemption

The expected dates and sequence of events relating to the implementation of
the First Redemption are set out below:

 First Redemption Record Date                           5:00pm on 27 February 2025
 First Redemption Date and expiry of Old ISIN number    27 February 2025
 First Redemption Ex Date                               27 February 2025
 New ISIN number GG00BP6KKQ44 enabled                   28 February 2025
 Estimated latest date for the Redemption Payment Date  19 March 2025

Capitalised terms used but not defined in this announcement will have the same
meaning as set out in the Circular.

 

6 February 2025

 

For further information, please contact:

 

Emma Lamb / Neil Martin / William Talkington

For and on behalf of

JPMorgan Funds Limited - Company Secretary

Telephone: 0800 20 40 20 (or +44 1268 44 44 70)

E-mail: invtrusts.cosec@jpmorgan.com (mailto:invtrusts.cosec@jpmorgan.com)

 

 

David Yovichic / Tom Skinner

Investec Bank plc - Broker

Telephone: 020 7597 4000

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAEASEELSEAA