REG - JPMorgan Emerg Mkts - Discount Management Update for Shareholders

Jpmorgan Emerging Markets Investment TrustAnnouncement

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RNS Number : 5059L  JPMorgan Emerging Mkts Invest Trust  05 June 2025

 
LONDON STOCK EXCHANGE ANNOUNCEMENT

 

                              JPMORGAN EMERGING
MARKETS INVESTMENT TRUST PLC

 
(the 'Company')

 

 
Discount Management Update for Shareholders

 

Legal Entity Identifier: 5493001VPQDYH1SSSR77

The Board of JPMorgan Emerging Markets Investment Trust plc (the "Company")
would like to update shareholders regarding its approach to discount
management and share buybacks.

 

The Board is disappointed that the Company has continued to trade at a
significant discount to its net asset value ('NAV'), as set out below, despite
consistent buying back of shares by the Company. The Board is intent on
reducing the discount and has therefore recently authorised a substantial
increase in the use of share buybacks.

 

The Board's policy, as set out in the Annual Report & Accounts, is to
utilise regular and consistent share buybacks as a key component of the
Company's proactive discount management strategy.  The Board regularly
reviews the merits of buying back shares to manage the absolute level and
volatility of the share price discount to NAV.

 

The Company's buybacks and average share price discount to NAV for the first
three quarters of the current financial year are summarised in the following
table:

 

 Quarter ended      Number of shares bought back over quarter  Number of shares bought back annualised as a % of Company's total voting  Average daily closing share price discount to NAV over quarter*
                                                               rights at beginning of quarter
 30 September 2024  11,075,000                                 4.0%                                                                      11.1%
 31 December 2024   27,112,509                                 9.9%                                                                      13.5%
 31 March 2025      28,213,117                                 10.5%                                                                     12.7%

*Source: Bloomberg

 

In addition to the active share buyback programme, shareholders will be aware
that the Board employs several additional mechanisms to address the Company's
ongoing share price discount to NAV:

·    a three-year continuation vote; the next being at the Annual General
Meeting in 2026;

·    a five-year conditional tender offer based on performance to 30 June
2029; and

·    consistent annual investment in marketing to stimulate demand.

 

The Board looks forward to updating shareholders on this programme as well as
the overall strategy and progress of the Company, when the 2025 Annual Report
& Accounts is published in late September.

 

 

5th June 2025

 

For further information, please contact:

 

JPMorgan Funds Limited (Company Secretary)

Divya Amin

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

 

Stifel Nicolaus Europe Limited

Edward Gibson-Watt

+44 (0)20 7710 7600

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