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J.P. Morgan Private Equity completes shares issue

J.P. Morgan Private Equity has completed its offering of 2015 zero dividend preference shares. 

As the offering was oversubscribed, the company has closed on its maximum target of GBP30,000,000.

The Company resolved to issue an aggregate of 53,333,333 2015 ZDP Shares at a price of 56.25p per share, representing a 7.46 per cent gross redemption yield to investors.

The issue represented the maximum number of shares offered under the prospectus published by the company on 10 November 2009. As such, the company’s board of directors has indicated that it does not intend to issue any additional 2015 ZDP Shares in the foreseeable future as a result of the successful placement.

The issuance of the 2015 ZDP Shares is conditional on admission of the 2015 ZDP Shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s market for listed securities.

It is expected that admission will become effective, settlement will occur and dealings in the 2015 ZDP Shares will commence on 20 November 2009.

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