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JARA

-0.22%
NEUTRAL

JPMorgan Global Core Real Assets to Redeem 16.9% of Shares

Why we think this is neutral

The RNS announcement appears to be a routine regulatory update regarding a compulsory partial redemption of shares, which is not expected to have a significant impact on the company's overall performance or investment potential. While the redemption represents a substantial portion of the issued share capital, the details provided suggest the process is being carried out in a fair and transparent manner, with the redemption price based on the NAV. However, the lack of additional context or financial information makes it difficult to assess the broader implications of this corporate action.

Key Points

  • Compulsory partial redemption of up to 34,753,090 shares, representing 16.9% of issued share capital (excluding treasury shares)
  • Redemption price of 97.0465 pence per share, based on NAV as of 31 January 2025 adjusted for redemption costs
  • Redemption to be funded from existing cash balances
  • Redemption to be carried out on a pro-rata basis, with fractions rounded down
  • Board retains discretion over future redemptions

Summary

The real estate investment company is redeeming 16.9% of its shares, with the process expected to be completed by late February 2025.

JPMorgan Global Core Real Assets Limited (JARA) has announced a compulsory partial redemption of up to 34,753,090 shares, representing approximately 16.9% of the company's issued share capital (excluding treasury shares). The redemption will be carried out at a price of 97.0465 pence per share, based on the NAV per share as of 31 January 2025 adjusted for redemption costs. The redemption will be funded from the company's existing cash balances and is being executed following shareholder approval as described in a previous circular. The Board retains discretion over the execution, extent, and timing of any further redemptions.

Key Dates

27 February 2025
General
First Redemption Date and expiry of Old ISIN number
Impact Score: 6
28 February 2025
General
First Redemption Ex Date and New ISIN number GG00BP6KKQ44 enabled
Impact Score: 5
19 March 2025
General
Estimated latest date for the Redemption Payment Date
Impact Score: 4
GENERAL UPDATE