Result of Offer
The Issue Price has been set at 533.75Â pence per new Ordinary Share.
JPMorgan Global Growth & Income plc (JGGI) has successfully raised gross proceeds of £34.5 million, through its Placing and WRAP retail offer.
Application will be made for 6,472,847 new Ordinary Shares to be admitted to trading on the London Stock Exchange's Main Market.
The WRAP Retail Offer has been materially oversubscribed, with orders received exceeding the €8m limit.
Allocations have been scaled back, in accordance with the terms of the Fundraising, meaning customers will receive approximately 40% of the amount they applied for.
Share allocations and uninvested cash are being credited today (Wednesday 21 February 2024). Confirmation of allocations will be sent once the shares and refunds are showing on accounts.
Please note the allocation policy was set by JGGI and not Interactive Investor.
Offer period
- The Offer Period for the JPMorgan Global Growth & Income plc Share Offer closed at 11am on Tuesday 20 February 2024.
Trading starts
- Admission and unconditional dealing in the new Ordinary Shares is expected to commence at 8am on Friday 23 February 2024. There is no conditional dealing period.
- When admitted to trading, the new Ordinary Shares will be registered with SEDOL (Stock Exchange Daily Official List) number BYMKY69 and trade under the symbol "JGGI".
- If you buy or sell JPMorgan Global Growth & Income plc Shares after admission the relevant share dealing rate will apply.
Tristan Hillgarth, Chairman of JGGI, commented:
The level of demand for the Company's shares has been encouraging, in particular, the interest from a new large UK wealth manager alongside other new investors and existing shareholders. The Company has grown significantly in recent years via corporate actions, ongoing share issuance and most importantly, strong performance. This has enabled the Company to deliver scale, with net assets now well in excess of £2bn, and a material increase in the liquidity. The Company's tiered management fee structure ensures that shareholders benefit directly from this increased scale with an ongoing cost figure below 50bps, placing JGGI in a competitive position relative to comparable vehicles.
Key information
| Issue price per share: | 533.75 pence* |
| Minimum investment: | £100 (multiples of £1 thereafter) |
| Stock ticker: | JGGI |
| SEDOL: | BYMKY69 |
* The Issue Price represents a premium of 0.6% to the cum-income Net Asset Value (NAV) per Share as at 19 February 2024.
Expected timetable
| Offer open: | 13 February 2024 |
| Offer close: | 20 February 2024 (11am) |
| Result announced: | 21 February 2024 |
| Unconditional dealing starts: | 23 February 2024 (8am) |
Offer documents
This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited.
No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the Retail Offer, and investors' commitments will be made solely on the basis of the information contained in the announcement of the Company dated 13 February 2024 and headed "Retail Offer" and information that has been published by or on behalf of the Company prior to the date of that announcement by notification to a Regulatory Information Service in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the Market Abuse Regulation (EU Regulation No. 596/2014) ("MAR") and MAR as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for new Ordinary Shares and investment in the Company carries a number of risks, including the risk that investors may lose their entire investment. Investors should take independent advice from a person experienced in advising on investment in securities such as the new Ordinary Shares if they are in any doubt.
An investment in the Company will place capital at risk. The value of investments, and any income, can go down as well as up, so investors could get back less than the amount invested.
Neither past performance nor any forecasts should be considered a reliable indicator of future results.
"JPMorgan Global Growth & Income plc" and the JPMorgan Global Growth & Income plc logo are reproduced by kind permission of JPMorgan Global Growth & Income plc. All rights reserved.
This announcement has been published by Interactive Investor Services Limited.
This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of 201 Deansgate, Manchester, M3Â 3NW, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.