JPMorgan European Investment Trust PLC - investment firm - Decides that it would be in best interests of shareholders to consolidate dual share class structure into one single class.
"The investment objective and investment policy of the new ordinary shares will be the same as that of the company's Growth shares, reflecting the board's confidence in the Investment Manager's strength and depth of team, as well as its track record," it says.
Company has also proposed to change name to JPMorgan European Growth & Income PLC. Expects to implement changes by late 2021 to early 2022. In addition, will conduct tender offer should NAV total performance be behind benchmark for five years in a row since the consolidation.
Current stock price: income shares 154.00 pence; growth shares 368.63p
Year-to-date change: income shares 14 higher; growth shares up 22%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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