Transaction in Own Shares

RNS Number : 1658R

J.P. Morgan Private Equity Ltd

15 November 2012

 

JPEL COMPLETES $20 MILLION COORDINATED SHARE REPURCHASE 

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GUERNSEY, 15 NOVEMBER 2012

Further to the announcement dated 7 November 2012, J.P. Morgan Private Equity Limited ("JPEL" or the "Company") is pleased to announce that it has completed a $20 million coordinated share repurchase programme.  Through the buy back on 14 November 2012, the Company purchased into treasury 31,372,548 US$ Equity Shares at a price of $0.6375 per Share.  

With this repurchase, the Company has completed the first of several strategic initiatives announced last week.  JPEL's Board has implemented these initiatives to enable the Company to once again actively reposition its portfolio and return larger amounts of capital to US$ Equity Shareholders while maintaining strong cover for ZDP holders.

In addition, JPEL will continue to look to purchase US$ Equity Shares through a variety of programmes.  Since inception, JPEL has returned over $173 million to investors through the operation of its tender facility and through open market share repurchases.  

Inclusive of yesterday's repurchase, since August 2011, JPEL has returned approximately 14.3% of the weighted average shares outstanding during fiscal year 2012 through a mix of share repurchases and a formal tender offer.

The coordinated share repurchase programme will be accretive to the Company's current NAV of $1.11 per US$ Equity Share as at 30 September 2012.  

Following this purchase the Company has 346,376,156 US$ Equity Shares in issue (excluding treasury shares).

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, 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.  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."

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For further information please contact:

J.P. Morgan Private Equity Limited

Troy Duncan / Greg Getschow  

[e-mail] / [e-mail]  

Rosemary DeRise / Samantha Ladd

[phone]  / [phone]  

[e-mail] / [e-mail]

Peregrine Communications

Anthony Payne / Max Hilton

[phone]  

[e-mail] / [e-mail]  

 

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