Last checked at 
30 Dec 2020 07:00
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
COMPLETION OF EIGHTH MANDATORY REDEMPTION
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GUERNSEY, 30 DECEMBER 2020
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 17 December 2020 has been completed with the redemption of 46,583,760 US$ Equity Shares ("Mandatory Redemption").
On 30 December 2020, JPEL redeemed 46,583,760 US$ Equity Shares, on a pro rata basis, at the prevailing NAV per US$ Equity Share of $1.61 as at 31 October 2020. Such shares were cancelled automatically following their redemption.
Fractions of shares produced by the applicable redemption ratios have not been redeemed and so the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.
Payments of redemption proceeds are expected to be effected either through CREST (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) on or around 8 January 2021. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 8 January 2021.
The US$ Equity Shares were disabled in CREST on the record date (29 December 2020) and the existing ISIN number GG00BMDQPC56 (the "Old ISIN") has expired. The new ISIN number GG00BNDVXN48 (the "New ISIN") in respect of the remaining 82,517,769 US$ Equity Shares which have not been redeemed will be enabled and will be available for transactions on 30 December 2020.
Inclusive of this Mandatory Redemption, JPEL will have returned $414.2 million to US$ Equity Shareholders, or approximately 86.5% and 108.9% 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, Christopher Spencer and Tony Dalwood are expected, immediately following the redemption date, to hold approximately 6,086, 7,343 and 31,191 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