JPEL Jpel Private Equity Limited

TIDMJPEL

RNS Number : 6078H

JPEL Private Equity Limited

05 August 2021

JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

JPEL ANNOUNCES NINTH MANDATORY REDEMPTION TO US$ SHAREHOLDERS

   --      JPEL WILL RETURN $85 MILLION TO SHAREHOLDERS 
   --      REDEMPTION DATE 12 August 2021 
   --      REDEMPTION REPRESENTS 51.5% OF US$ EQUITY SHAREHOLDER NET ASSET VALUE AT 30 JUNE 2021 
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GUERNSEY, 5 AUGUST 2021

The Company has resolved to return a total of $85 million to JPEL US$ Equity Shareholders. Redemption proceeds will be comprised of existing cash on JPEL's balance sheet and proceeds from the sale of its investment in Swania International SA.

The $85 million capital return (the equivalent of approximately 42.5 million US$ Equity Shares, or approximately 51.5% of US$ Equity Shareholder NAV) will be by way of a pro rata compulsory redemption of US$ Equity Shares at a price equal to the prevailing NAV per US$ Equity Share of $2.00 as at 30 June 2021 (being the most recent NAV per US$ Equity Share available as of the date of this announcement) for US$ Equity Shareholders on the register of members as at close of business on 11 August 2021 ("Record Date"). Unless circumstances require otherwise, this NAV will form the NAV per US$ Equity Share as of the date of redemption.

Payments of redemption proceeds are expected to be effected either through CREST (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) on or around 19 August 2021. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 20 August 2021.

The Company currently has 82,517,769 US$ Equity Shares in issue. All of the US$ Equity Shares redeemed on the redemption date will be cancelled and any fractions of shares will be rounded down to the nearest whole share.

The US$ Equity Shares will be disabled in CREST on the Record Date and the existing ISIN number GG00BNDVXN48 (the "Old ISIN") will expire. A new ISIN number GG00BM8B8T38 (the "New ISIN") in respect of the remaining US$ Equity Shares which have not been redeemed will be enabled and available for transactions on 12 August 2021. For the period up to and including the Record date, US$ Equity Shares will be traded under the Old ISIN and as such, a purchaser of such shares may have a market claim for the redemption proceeds following the activation of the New ISIN. CREST will automatically transfer any open transactions as at the redemption date to the New ISIN.

Inclusive of this Mandatory Redemption, JPEL will have returned $499.2 million to US$ Equity Shareholders, or approximately 104.2% and 131.3% of the Company's 31 October 2016 NAV and market capitalization. Please note that the prevailing NAV at the time of the Company's first mandatory redemption was 31 October 2016.

DIRECTOR'S INTERESTS

As of 5 August 2021, Sean Hurst, Christopher Spencer and Tony Dalwood, Directors of the Company, owned 6,086, 7,343 and 31,191 US$ Equity Shares, respectively. As a result of the Mandatory Redemption described above, Sean Hurst, Christopher Spencer and Tony Dalwood are expected, immediately following the redemption date, to hold approximately 2,953, 3,563 and 15,133 US$ Equity Shares, respectively.

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LEI Number: 5493005M6GBE3DNJZ894

About JPEL Private Equity Limited

JPEL Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL) 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.

ENQUIRIES:

FCF JPEL Management LLC

JPELClientService@fortress.com

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August 05, 2021 02:00 ET (06:00 GMT)

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