Result of Equity Issue and Total Voting Rights
JPMorgan Global Emerging Markets Income Trust plc
(the "Company")
Result of Equity Issue and Total Voting Rights
On 1 March 2011 the Company published a prospectus (the 'Prospectus') setting out the terms of a Placing and Offer for Subscription (together, the "Issue") of C Shares (the "C Shares") at an issue price of £1 per C Share (the "Issue Price").
The Board of the Company is pleased to announce that gross proceeds of £26,402,325 were raised pursuant to the Issue. A total of 26,402,325 C Shares will be issued at the Issue Price, comprising 20,347,455 shares via the Placing and 6,054,870 shares via the Offer for Subscription. The Company was launched in July 2010 with assets of £104 million and has since then issued Shares and C Shares with an aggregate value of approximately £40 million.
Application has been made for the C Shares to be admitted to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange with effect from 8.00 a.m. on 19 April 2011.
The ISIN of the C Shares is GB00B3X2PV94 and the TIDM of the C Shares is JEMC.
It is expected that CREST stock accounts will be credited with C Shares issued in uncertificated form by 8.00 a.m. on 19 April 2011. As disclosed in the Prospectus, the Company does not expect to despatch share certificates in respect of the C Shares issued in certificated form as the expected Calculation Date is within 10 Business Days of Admission. The Company will despatch share certificates in respect of the Ordinary Shares arising on conversion of certificated C Shares as soon as reasonably practicable following the Conversion Date.
The Company intends to publish a daily NAV for the C Share Pool and will make a further announcement in due course setting out the Conversion Ratio to be applied in converting the C Shares into Ordinary Shares, the record date of this conversion and any dividends which may be payable to shareholders in advance of the Calculation Date.
Total Voting Rights
Following Admission of the C Shares, the Company's share capital will consist of 117,050,000 Ordinary Shares and 26,402,325 C Shares, all of which carry voting rights. The Company holds no shares in treasury. Accordingly, the total number of voting rights will be 143,452,325.
The above figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the Company under the FSA's Disclosure and Transparency Rules.
Capitalised terms in this announcement shall have the same meanings as in the Prospectus.
18 April 2011
Enquiries:
James Saunders Watson/David Barron, J.P. Morgan Asset Management: 020 7742 6000
James Moseley / Robert Peel, Winterflood Investment Trusts: 020 3100 0000
This information is provided by RNS
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