Investment of C Share Proceeds

RNS Number : 5571F

JPMorgan Glb Emerging Mkts Inc Tst

27 April 2011

 



JPMorgan Global Emerging Markets Income Trust plc

Investment of C Share Proceeds

The Company was yesterday informed by the Manager that over 90 per cent. of the net proceeds of the recent issue of C Shares have been invested into emerging market equities, in accordance with the Company's investment policy.

The rights attaching to the C Shares provide that the Company has 10 business days following the date on which it is informed that over 90% of the net proceeds have been invested in which to determine the Net Asset Values ("NAVs") of the C Share and Ordinary Share asset pools, on which basis the Conversion Ratio will be calculated, the date of such determination being the "Calculation Date".

In the absence of unforeseen circumstances the Company expects the Calculation Date to fall on 12 May 2011. 

The Company expects to declare a dividend payable to Ordinary Shareholders comprising the substantial majority of the retained revenue reserves accrued to this date and attributable to the Ordinary Shares.  This dividend is expected to comprise not less than 1.5 pence per Ordinary Share and shall have a record date of 6 May 2011 and a pay date of 3 June 2011.

The Company intends to make a further announcement in due course setting out the exact terms of the dividend to Ordinary Shareholders, the conversion ratio applying to the conversion of C Shares into Ordinary Shares and the expected date when such conversion will occur.

Enquiries:

J.P. Morgan Asset Management

James Saunders Watson/ David Barron                                 020 7742 6000

Winterflood Investment Trusts

Robert Peel/ James Moseley                                                     020 3100 0000

 

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