Jupiter Emerging & Frontier Inc.Tst Annual Voluntary Redemption of Ordinary Shares (8075X)
May 01 2019 - 12:03PM
UK Regulatory
TIDMJEFI
RNS Number : 8075X
Jupiter Emerging & Frontier Inc.Tst
01 May 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA (INCLUDING ITS
TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE
DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH
AFRICA, In any Member State of the EEA (other than the UNITED
KINGDOM) OR IN ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL
This announcement is not an offer to sell, or a solicitation of
an offer to acquire, securities in the United States or in any
other jurisdiction in which the same would be unlawful. Neither
this announcement nor any part of it shall form the basis of or be
relied on in connection with or act as an inducement to enter into
any contract or commitment whatsoever.
JUPITER EMERGING & FRONTIER INCOME TRUST PLC (the
"Company")
1 May 2019
VOLUNTARY REDEMPTION OF ORDINARY SHARES
YOU DO NOT HAVE TO TAKE ANY ACTION IF YOU WISH TO RETAIN YOUR
SHARES
The Company operates a voluntary redemption facility through
which shareholders may request the redemption of all or part of
their holding of redeemable ordinary shares of 1p each ("Ordinary
Shares") for cash on the last business day in June each year.
There is no requirement for shareholders to take any action
should they wish to retain their Ordinary Shares. As at close of
business on 30 April 2019, the Ordinary Share price was 98.80p and
the net asset value (including current period revenue) was 101.84p
per Ordinary Share, therefore the Ordinary Shares were trading at a
2.99% discount.
A redemption of Ordinary Shares may be subject to income tax
and/or capital gains tax. In particular, private shareholders that
sell their shares via the redemption mechanism could find they are
subject to income tax on the gains made on the redeemed shares
rather than the more usual capital gains tax on the sale of their
shares in the market. However, individual circumstances do vary,
therefore shareholders who are in any doubt about the redemption or
the action that should be taken should seek independent
professional advice.
None of the Directors of the Company will be redeeming any of
their shares under the redemption facility.
Shareholders submitting valid requests for the redemption of
Ordinary Shares will have their shares redeemed at the Redemption
Price or the Company, at its discretion, may arrange for some or
all of such shares to be sold on a matched bargain basis at the
Redemption Price.
The Directors may elect, at their absolute discretion, to
calculate the Redemption Price on either of the following
bases:
1. The Redemption Price shall be equal to the Dealing Value
per Ordinary Share calculated as at the appropriate Valuation
Point on the appropriate Redemption Point; or
2. The Directors may elect to calculate the Redemption Price
by reference to the amount generated upon the realisation
of a Redemption Pool created for the purpose of funding
the redemption.
The Directors are minded to approve all valid redemption
requests unless there are exceptional reasons why this would be
contrary to the interests of shareholders.
Shareholders wishing to request the redemption of all or any of
their Ordinary Shares at the proposed Redemption Point should
deliver to the Company's Registrar, Link Asset Services, a duly
completed Redemption Request form together with their share
certificate or Transfer to Escrow ("TTE") instruction (in respect
of shares held in uncertificated form) in accordance with the
timetable set out below. Redemption Request forms are available for
download from the Company's website at www.jupiteram.com/JEFI, on
request from the Company Secretary by email to
investmentcompanies@jupiteram.com and from the Company's Registrar,
Link Asset Services on 0371 664 0300 (+44 (0) 371 664 0300 if
calling from outside the United Kingdom), or by email at
shareholderenquiries@linkgroup.co.uk. Calls are charged at the
standard geographic rate and will vary by provider. Calls outside
the United Kingdom will be charged at the applicable international
rate. The helpline is open between 9.00 am - 5.30 pm, Monday to
Friday, excluding public holidays in England and Wales. Please note
that Link Asset Services cannot provide any financial, legal or tax
advice and calls may be recorded and monitored for security and
training purposes.
The relevant dates for the June 2019 Redemption Procedure are
outlined below:
31 May 2019 Latest date for receipt of Redemption
Requests and certificates for certificated
shares.
3.00 pm on 31 May Latest date and time for receipt of Redemption
2019 Requests and TTE instructions for uncertificated
shares via CREST (Participant ID will
be RA10 and Account ID will need to be
JEFIREDN)
5.00 pm on 28 June The Redemption Point.
2019
On or before 12 July Company to notify Redemption Price and
2019 dispatch redemption monies; or
If the redemption is to be funded by way
of a Redemption Pool, Company to notify
the number of shares being redeemed.
Notification of Redemption Price and dispatch
of redemption monies to take place as
soon as practicable thereafter.
On or before 26 July Balance certificates to be sent to shareholders
2019 (where applicable).
Further details of the redemption facility are set out in the
Company's Articles of Association, and the Share Issuance Programme
prospectus issued on 19 April 2017. Both documents are available
for download from the Company's website at
www.jupiteram.com/JEFI.
The Directors of the Company have discretion over the operation
of the redemption facility and the calculation of the Redemption
Price.
Defined terms in the announcement have the same meaning as set
out in the Articles of Association, a copy of which may be obtained
from the Company Secretary.
Enquiries:
Richard Pavry
Jupiter Asset Management Limited, Company Secretaries
020 7412 0703
investmentcompanies@jupiteram.com
Link Asset Services
0371 664 0300
shareholderenquiries@linkgroup.co.uk
Luke Simpson
Peel Hunt LLP
020 7418 8900
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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