Jpel Priv Eqty Regulatory News (JPEL)

20 Dec 2007 16:15

Bear Stearns Private Equity Limited20 December 2007 Bear Stearns Private Equity Limited St Martin's House, Le Bordage, St Peter Port, Guernsey, GY1 4AU Bear Stearns Private Equity Limited (the "Company") announces that at the AnnualGeneral Meeting of the Company held on 20 December 2007, the following ordinaryresolution was passed: "THAT the Company be authorised in accordance with the Companies (Purchase ofOwn Shares) Ordinance, 1998 to make market purchases (within the meaning ofsection 5 of the said Ordinance) of equity shares and zero dividend preferenceshares ("Shares"), provided that the maximum number of Shares authorised to bepurchased is such number of Shares as equates to 19,032,579 equity shares and3,967,422 zero dividend preference shares or if less such number as is equal to14.99 per cent of the issued Shares as at the date of the passing of thisresolution. The minimum price which may be paid for a Share is 1p and themaximum price which may be paid for a Share is an amount equal to 105 per centof the average market values for a Share taken from the Official List of the UKListing Authority for the five business days immediately preceding the day onwhich the Share is purchased. Such authority expires at the conclusion of the2008 general meeting of the Company." This authority will be exercised by the Company in order to address anyimbalance between the supply of and demand for Shares in the market. Purchaseswill only be made through the market for cash at prices below the prevailing netasset value of a Share where the directors believe such purchases will result inan increase in the net asset value of the remaining Shares and to assist innarrowing any discount or premium to net asset value at which the Shares maytrade. As the report and accounts are not yet available the resolution as to approvalof the annual report and accounts has been adjourned to a date to be notified. 20 December 2007 End. This information is provided by RNS The company news service from the London Stock Exchange