REG - JPEL Private Equity - Portfolio Update

JPEL Private EquityAnnouncement

25/10/2024 07:00

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RNS Number : 5645J  JPEL Private Equity Limited  25 October 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART
OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AND
AS AMENDED ("UK MAR")

 

LEI Number:  5493005M6GBE3DNJZ894

 

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey GY1 4BF

www.jpelonline.com (http://www.jpelonline.com)

 

 

25 October 2024

 

Portfolio update

 

As referenced in JPEL Private Equity Limited's ("JPEL" or the "Company")
audited financial statements dated 30 June 2024, the Company's subsidiary has
today entered into a two year Put Option Agreement (the "Option") relating to
its investment in the Tax Advisory Services company. The Option provides JPEL
the right, but not the obligation, to sell its investment in the company after
24 October 2025 at the 30 June 2024 valuation. The Option is subject to
customary closing conditions that, if not satisfied or waived, could result in
some or all investment not being sold. The purpose of entering into the Option
is to preserve the current carrying value while allowing for potential
investment value upside through to 24 October 2026. In addition, if the Option
is exercised in one year, the Company believes it could accelerate liquidity
for its largest investment (valued at $12.8 million representing approximately
42% of the net asset value as at 30 June 2024) by up to 24 months. The Option
also provides additional support for the third-party valuation used for the
year end 2024 mark.

 

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The person responsible for arranging the release of this announcement on
behalf of JPEL is Sean Hurst, Chairman.

 

 

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.

 

This announcement may include "forward-looking statements". All statements
other than statements of historical facts included in this announcement,
including, without limitation, those regarding the Company's financial
position, business strategy, plans and objectives of management for future
operations are forward-looking statements. Forward-looking statements are
subject to risks and uncertainties and accordingly the Company's actual future
financial results and operational performance may differ materially from the
results and performance expressed in, or implied by, the statements. These
forward-looking statements speak only as at the date of this announcement. The
Company expressly disclaims any obligation or undertaking to update or revise
any forward-looking statements contained herein to reflect actual results or
any change in the assumptions, conditions or circumstances on which any such
statements are based unless required to do so by the Financial Services and
Markets Act 2000, the Listing Rules or Prospectus Regulation Rules made under
Part VI of the Financial Services and Markets Act 2000 of the Financial
Conduct Authority, UK MAR or other applicable laws, regulations or rules.

 

ENQUIRIES:

FCF JPEL Limited LLC

JPELClientService@fortress.com

 

 

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