REG - JPEL Private Equity - Completion of Tenth Mandatory Redemption

JPEL Private EquityAnnouncement

11/04/2022 12:45

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RNS Number : 9849H  JPEL Private Equity Limited  11 April 2022

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

 

 

 

COMPLETION OF TENTH MANDATORY REDEMPTION

 

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GUERNSEY, 11 APRIL 2022

 

 

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 4 April 2022 has been completed
with the redemption of 9,729,645 US$ Equity Shares ("Mandatory Redemption").

 

On 11 April 2022, JPEL redeemed 9,729,645 US$ Equity Shares, on a pro rata
basis, at the prevailing NAV per US$ Equity Share of $1.85 as at 31 December
2021.  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 21 April 2022. Any
share certificates for the balance of holdings of shares will also be
despatched to shareholders on or around 20 April 2022.

 

The US$ Equity Shares were disabled in CREST on the record date (8 April 2022)
and the existing ISIN number GG00BM8B8T38 (the "Old ISIN") has expired. The
new ISIN number GG00BMFD2F62 (the "New ISIN") in respect of the remaining
30,288,238 US$ Equity Shares which have not been redeemed will be enabled and
will be available for transactions on 11 April 2022.

 

Inclusive of this Mandatory Redemption, JPEL will have returned $517.2 million
to US$ Equity Shareholders, or approximately 108% and 136% 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,
Christopher Spencer and Tony Dalwood are expected, immediately following the
redemption date, to hold approximately 2,234, 2,695 and 11,444 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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