J.P. MORGAN PRIVATE EQUITY LIMITED
COMPLETES TENDER OFFER TO PURCHASE SHARES
* * *
GUERNSEY, 24 FEBRUARY 2012
J.P. Morgan Private Equity Limited (the "Company") is pleased to announce that it has accepted the following shares tendered to it at the applicable Net Asset Value per share as at 31 December 2011:
· 10,706,290 of US$ Equity Shares at a price of USD 1.27 per share1.
o As discussed in the Company's Circular dated 17 November 2011, the total US$
Equity Shares available for tender was 10,706,336 or 3.0% of the 356,877,850 US$ Equity Shares in issue (excluding treasury) at the time that the tender authority was granted.
o The 10,706,336 US$ Equity Shares available for tender represents 2.6658772% of
the 401,606,496 US$ Equity Shares in issue (excluding treasury) as of the date of the Circular (17 November 2011).
o The scaling ratio for US$ Equity shares tendered in excess of the basic entitlement
· 153,284 of 2013 Zero Dividend Preference shares at a price of GBP 0.6570 per share.
· 1,514,935 of 2015 Zero Dividend Preference shares at a price of GBP 0.6267 per share.
The number of US$ Equity Shares accepted differs from those which were available for tender due to rounding in order to accommodate each shareholder's basic entitlement.
The date of the purchase was 21 February 2012. Cheques were despatched / CREST accounts were credited on 24 February 2012 in respect of the shares tendered. All payments were made in the respective base currencies of each share class.
The shares tendered are held as treasury shares. As a result of this tender offer, the Company holds 25,802,704 US$ Equity Shares, 2,259,803 2013 Zero Dividend Preference Shares and 2,344,176 2015 Zero Dividend preference shares in treasury.
Immediately following the tender offer the Company's issued share capital will consist of 386,890,704 shares of no par value (excluding treasury shares) each classified as US$ Equity Shares, 63,159,021 shares of no par value (excluding treasury shares) each classified as 2013 Zero Dividend Preference shares, 67,077,371 shares of no par value (excluding treasury shares) each classified as 2015 Zero Dividend Preference Shares, 30,410,753 shares of no par value (excluding treasury shares) each classified as 2017 Zero Dividend Preference Shares.
Therefore the total number of voting rights in the Company is 386,890,704 for the US$ Equity Share class, 63,159,021 for the 2013 Zero Dividend Preference share class and 67,077,371 for the 2015 Zero Dividend Preference share class. These figures may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency rules.
J.P. Morgan Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL, JPWW, JPEZ, JPZZ, JPSZ) 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.
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