REG - JPEL Private Equity - Completion of Eleventh Mandatory Redemption

SoftBankAnnouncement

22/12/2022 08:16

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RNS Number : 5414K  JPEL Private Equity Limited  22 December 2022

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

 

 

 

COMPLETION OF ELEVENTH MANDATORY REDEMPTION

 

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GUERNSEY, 22 DECEMBER 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 4,913,205 US$ Equity Shares ("Mandatory Redemption").

 

On 21 December 2022, JPEL redeemed 4,913,205 US$ Equity Shares, on a pro rata
basis, at the prevailing NAV per US$ Equity Share of $1.73 as at 30 September
2022.  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 3 January 2023. Any
share certificates for the balance of holdings of shares will also be
despatched to shareholders on or 3 January 2023.

 

The US$ Equity Shares will be disabled in CREST on the Record Date and the
existing ISIN number GG00BMFD2F62 (the "Old ISIN") will expire.  A new ISIN
number GG00BPSMLX26 (the "New ISIN") in respect of the remaining 25,375,033
US$ Equity Shares which have not been redeemed will be enabled and available
for transactions on 22 December 2022 (the "Ex-date").

 

Inclusive of this Mandatory Redemption, JPEL will have returned $525.7 million
to US$ Equity Shareholders, or approximately 109.7% and 138.3% 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 and Tony
Dalwood are expected, immediately following the redemption date, to hold
approximately 1,977 and 10,132 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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