Net Asset Value(s)

RNS Number : 6938B

J.P. Morgan Private Equity Ltd

30 October 2009

 

J.P. Morgan Private Equity Limited

St Martins House

Le Bordage

St Peter Port

Guernsey GY1 1BP
www.jpelonline.com

J.P. MORGAN PRIVATE EQUITY LIMITED 
ANNOUNCES 30 SEPTEMBER 2009 NAV

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GUERNSEY, 30 OCTOBER 2009 

J.P. Morgan Private Equity Limited ("JPEL" or the "Company") today announces its third quarter 2009 results.  

As at 30 September 2009, the Company's net asset value ("NAV") per US$ Equity Share is $1.32, based on the number of equity shares in issue as at 30 September 2009, and includes the dilutive effect of the issuance of approximately 93.5 million US$ Equity Shares at US$1.00 per share during the third quarter of 2009.  

During the third quarter of 2009, the global markets continued to rebound and JPEL's US$ Equity Share price enjoyed a 12% increase.  From 30 September 2009 through 29 October 2009, JPEL's US$ Equity Share price increased by an additional 13.5%.  Additionally, since 30 June 2009, the Company has raised approximately $93.5 million which the Manager will endeavour to invest in order to generate value for shareholders. 

NAV per share for the Company's 2013 and 2015 ZDP Shares increased from 55.06p to 56.05p and from 50.93p to 52.01p, respectively, during the third quarter, representing gains of 1.8% and 2.1%, respectively, per share.  JPEL's 2013 ZDP share price and 2015 ZDP share price increased by 3.4% and 4.3%, respectively for the same period.

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About J.P. Morgan Private Equity Limited 

J.P. Morgan Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL, JPEZ, JPZZ) 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. 

On 17 August 2009, JPEL issued warrants free of subscription cost to shareholders on record. The warrants are publicly traded on the London Stock Exchange under the symbol "JPWW."

  For shareholders' information, the estimated net asset value per share for US$ Equity Share at 30 September 2009 includes in the calculation the issue of 36.93 million shares on 16 July, 3.55 million shares on 17 July, 12.81 million shares on 31 July, 6.2 million shares on 7 August, 15.7 million shares on 12 August, 3.14 million shares on 28 August and 15.1 million shares on 24 September.  In accordance with the authority granted by shareholders on 16 July 2009, these shares were issued at $1.00 per share, a discount to the prevailing net asset value. The Company's net asset value per US$ Equity Share reflects the dilutive effect of these additional shares.  

THIS IS AN ESTIMATED VALUATION OF THE NET ASSETS OF THE COMPANY AS AT 30 SEPTEMBER 2009. THIS VALUATION IS FOR INFORMATION PURPOSES ONLY AND HAS NOT BEEN VERIFIED BY THE COMPANY OR THE MANAGER. THIS VALUATION INCLUDES THE MOST RECENT INFORMATION AVAILABLE FROM THE COMPANY'S UNDERLYING PRIVATE EQUITY FUND MANAGERS FOR THEIR RESPECTIVE PRIVATE EQUITY PORTFOLIOS. IT IS BASED ON UNAUDITED ESTIMATED VALUATIONS SUPPLIED BY THE ADMINISTRATORS, MANAGERS OR INVESTMENT ADVISERS OF THE COMPANY'S UNDERLYING INVESTMENTS. WHILST THE MANAGER BELIEVES THIS INFORMATION TO BE USEFUL INVESTOR INFORMATION, IT IS SUBJECT TO MATERIAL CHANGE AND CONSEQUENTLY NO RELIANCE SHOULD BE PLACED AS TO ITS ACCURACY.

NEITHER THE COMPANY NOR THE MANAGER ACCEPT ANY LIABILITY WHATSOEVER IN REGARD TO THIS INFORMATION. THE ONLY OFFICIAL VALUATION OF THE COMPANY'S PORTFOLIO IS THE VALUATION PRODUCED AS AT THE LAST BUSINESS DAY OF EACH MONTH AND REPORTED VIA RNS WHEN RELEASED.

 

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