Conversion of C Shares
Jupiter Green Investment Trust PLC
Conversion of C Shares and cancellation of New Warrants
Net Asset Value as at 24 October 2007
Further to its announcement dated 24 October 2007, the Board of Jupiter Green
Investment Trust PLC (the "Company") announces the following information in
relation to the Net Asset Value of its Shares as at 24 October 2007 (the
"Calculation Date") and the Conversion of C Shares and cancellation of New
Warrants, including the Conversion Ratio.
Net Asset Value as at 24 October 2007
The net asset values of the Ordinary Shares and the C Shares as at the
Calculation Date, being 24 October 2007, were as follows:
pence
Ordinary Shares
Net Asset Value - undiluted 128.796535p*
Net Asset Value - diluted 124.39p
C Shares
Net Asset Value 103.024307p*
(there is no dilution for C Shares)
Conversion Date
The Directors have determined that the Conversion Date will be the close of
business today, Friday 2 November 2007. Entitlements on Conversion will be
calculated on the basis of holdings of C Shares and New Warrants as at the close
of business on the Conversion Date.
Conversion Ratio for C Shares
On the basis of the above Net Asset Values (marked *), the Conversion Ratio for
Conversion of the C Shares is 0.79989967 Ordinary Shares for every one C Share.
For example, a holder of 10,000 C Shares will receive 7,998 new Ordinary Shares
upon Conversion.
Fractions will be rounded down to the nearest whole share. Any fractional
entitlements will be aggregated and sold in the market for the benefit of the
Company.
Scaling Back of New Warrants
In accordance with the terms of the instrument constituting the New Warrants, on
Conversion, such number of New Warrants held by each New Warrantholder will be
cancelled so as to ensure that the total number of continuing New Warrants
outstanding following such cancellation will be at a ratio to the number of
Ordinary Shares arising on Conversion that is equal to the ratio of Existing
Warrants to Existing Ordinary Shares immediately prior to the Conversion Date.
As of today, being the Conversion Date, there are 4,973,621 Existing Warrants
and 27,540,428 Ordinary Shares in issue, meaning that there were 0.180593
Existing Warrants for every one Ordinary Share in issue. The holders of New
Warrants will therefore retain 0.72228309 continuing New Warrants for every one
New Warrant held prior to the Conversion Date, rounded down to the nearest whole
number. Any fractional entitlements will be cancelled.
For example, a holder of 1,000 New Warrants will retain 722 continuing New
Warrants beyond the Conversion Date.
With effect from the Conversion Date, the New Warrants will rank pari passu in
all respects with the Existing Warrants (including the subscription price of 100
pence per Ordinary Share).
Dealings, CREST and share certificates
Dealings in the Ordinary Shares arising from Conversion and the reduced number
of New Warrants are expected to commence at 8.00 a.m. on Monday 5 November 2007.
CREST accounts will be credited in respect of Ordinary Shares arising from
Conversion, and will be adjusted in respect of Warrants, on 5 November 2007.
Share certificates and Warrant certificates will be despatched, as appropriate,
during the week commencing 5 November 2007.
Shares in issue
Following Conversion, as at 8.00 a.m. on 5 November 2007 the Company's issued
capital will consist of Ordinary Shares (ISIN GB00B120GL77) and Warrants to
subscribe for Ordinary Shares (ISIN GB00B120H360).
The ISINs for the C Shares (GB00B1Z97071) and New Warrants (GB00B1Z97303) will
be cancelled at that time.
Other matters
Further details of the conversion and rights attaching to the C Shares and New
Warrants are set out in the Company's prospectus published in relation to the
issue of the C Shares and New Warrants dated 4 July 2007 (the "Prospectus"). A
copy of the Prospectus is available for download from www.jupiteronline.co.uk
and on request from Richard Pavry at Jupiter Asset Management Limited.
Terms defined in the Prospectus shall have the same meaning in this announcement
unless otherwise defined.
For further information, please contact:
Richard Pavry Alastair Moreton
Director of Investment Trusts Director, Corporate Finance
Jupiter Asset Management Arbuthnot Securities
rpavry@jupiter-group.co.uk alastairmoreton@arbuthnot.co.
020 7314 4822 uk
020 7012 2000
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