LONDON
STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN
EUROPEAN DISCOVERY TRUST PLC
(the
'Company')
Result of
Tender Offer and Tender Price
Legal Entity Identifier:
54930049CEWDI46Y3U28
Result of Tender Offer
Further to the Company's publication
of a circular to shareholders on 25th July 2024 containing details
of a tender offer providing Eligible Shareholders with the
opportunity to tender up to 15 per cent. of the issued share
capital in the Company (excluding Shares held in treasury) (the
"Circular"), the Company today announces that applications for a
total of 81,976,778 shares were received of which 21,160,028 shares
have been validly tendered pursuant to the Tender Offer.
Shareholders who validly tendered a
percentage of their Shares equal to or less than their Basic
Entitlement shall have all tendered Shares purchased in full under
the Tender Offer. Following a scale-back exercise, Shareholders who
validly tendered a percentage of Shares greater than their Basic
Entitlement will have a number of Shares equal to their Basic
Entitlement purchased in full plus approximately 6.3 per cent. of their Excess Applications, in
accordance with the process described in the Circular.
The Company's existing share buyback
programme will continue following completion of the Tender
Offer.
Tender Price
The Tender Price at which all the
Shares accepted in the Tender Offer will be acquired is
493.2671 pence per Share.
The Tender Price has been calculated
as a 2 per cent. discount to the unaudited Net Asset Value per
Share as at close of business on 3rd September
2024 less the costs and expenses of the Tender Offer divided by the
number of Shares successfully tendered, as further described
in the Circular.
Settlement of the Tender
Offer
As set out in the Circular, proceeds
payable to Shareholders whose tendered shares are held through
CREST accounts are expected to be made on 10th
September 2024. Cheques for certificated Shares purchased under the
Tender Offer and balance share certificates in respect of unsold
tendered Shares held in certificated form will be despatched on
19th September 2024.
Total Voting Rights
Following the completion of the
Tender Offer, the Company will have 136,314,903 Shares in issue
(with 16,408,075 Shares held in treasury). Therefore, the total number of
voting rights in the Company will be 119,906,828 and this figure may be
used by Shareholders as the denominator for calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the Company under the
Financial Conduct Authority's Disclosure Guidance and Transparency
Rules.
Capitalised terms shall have the
meaning attributed to them in the Circular unless otherwise defined
in this announcement.
5 September 2024
For further information, please
contact:
Priyanka Vijay Anand
JPMorgan Funds Limited
0800 20 40 20 (or +44 1268 44 44
70)
James King (Corporate
Finance)
Andrew Worne (Corporate
Broking)
Cavendish Capital Markets
Limited
+44 20 7397 8900
