Final Exercise of Subscription Shares

RNS Number : 3013E

JPMorgan Overseas IT PLC

03 November 2015

 

3 November 2015

JPMorgan Overseas Investment Trust plc

Final exercise of Subscription Shares

JPMorgan Overseas Investment Trust plc (the "Company") has allotted 3,885,042 ordinary shares of 25p each (the "Shares") following the exercise of Subscription Share Rights in respect of the final subscription on 30 October 2015, which included the exercise by the Final Subscription Trustee of 2,453,822 Subscription Share Rights not otherwise exercised by the holders of those Subscription Share Rights. The Shares resulting from the exercise by the Final Subscription Trustee were sold in the market at a price of 990 pence per share. The proceeds of such sale, after deducting the costs of exercising those unexercised Subscription Share Rights, together with the exercise price which will be retained by the Company, will be remitted to those holders who made no election decision. Accordingly, those holders will receive approximately 2.6 pence per unexercised Subscription Share Right, provided that entitlements of under £5 shall be retained for the benefit of the Company.

Following the exercise, the Company's issued share capital will comprise 30,981,100 Ordinary Shares (including the 4,308,599 shares held in Treasury which have no entitlement to any voting rights).

Applications have been made for the new Shares to be admitted to the Official List of the UK Listing Authority and for admission to trading on the main market of the London Stock Exchange. It is expected that admission to the Official List and commencement of dealings in the Shares on the London Stock Exchange will take place at 8.00 a.m. on 9 November 2015.  The Shares will rank pari passu with the Company's existing Ordinary Shares, including entitlement to the final dividend of 16 pence per Ordinary Share for the year ending 30 June 2015 to be paid on 11 December 2015 to shareholders on the register at the close of business on 13 November 2015.

Following this final exercise of Subscription Share Rights, no Subscription Shares remain in issue and accordingly the Company will request that the UKLA cancel the listing of the Subscription Shares on 30 November 2015.

Unless otherwise defined, capitalised words and phrases in this announcement shall have the meaning given to them in the Company's prospectus dated 5 December 2012.

Enquiries:

Divya Amin

JPMorgan Funds Limited - Company Secretary

020 7742 4000

Neil Langford

Winterflood Investment Trusts

020 3100 0160

 

END

 

 

CONLFFSLLDLFIIE