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Conversion of Securities

23rd Feb 2022 15:30

RNS Number : 6122C

JPMorgan Elect PLC

23 February 2022

JPMORGAN ELECT PLC

(the 'Company')

Conversion and Repurchase of Shares

The Company announces that valid Conversion Notices have been received in respect of 21,650 Managed Growth Shares, 42,553 Managed Income Shares and 10,410 Managed Cash Shares.

Repurchase of Shares

177,028 Managed Cash Shares will be repurchased at a price of 102.45 pence per share based on a capital net asset value per Managed Cash Share of 102.96 pence as at close of business on 14th February 2022.

It is expected that cheques, in respect of the Managed Cash Shares being repurchased, will be despatched on 9th March 2022.

Conversion of Shares

At 8.00 a.m. on 28th February 2022, the following conversions will take place:

Stock to Convert:	Conversion Ratio:	Converted	Total Number of Shares Following the Conversion and Repurchase
		Into:
1,410 Managed Cash Shares to Managed Growth Shares	0.096195	2,033	27,322,526
18,543 Managed Income Shares to Managed Growth Shares	0.102283	Managed Growth Shares	Managed Growth Shares
5,019 Managed Growth Shares to Managed Income Shares	9.523022	56,151	74,652,016
9,000 Managed Cash Shares to Managed Income Shares	0.928284	Managed Income Shares	Managed Income Shares
24,010 Managed Income Shares to Managed Cash Shares	1.051865	194,049	7,568,954
16,631 Managed Growth Shares to Managed Cash Shares	10.149378	Managed Cash Shares	Managed Cash Shares

The conversion calculations were based on the relative net asset values of the three share classes (net of accrued management expenses and applicable costs of conversion) as at close of business on14th February 2022. Individual Shareholders' entitlements on conversion will be rounded down to the nearest whole number of shares. The resulting shares rank pari passu with the existing shares of the relevant share class.

Admission of Shares

The Company has applied for the resulting shares to be admitted to the Official List and to trading on the London Stock Exchange. Dealings in such shares are expected to commence at 8.00 a.m.on 28th February 2022. It is expected that Certificates in respect of the resulting shares will be posted by 9th March 2022.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Company's articles of association.

23rd February 2022

Priyanka Vijay Anand 020 7742 4000

For and on behalf of

JPMorgan Funds Limited

Company Secretary

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END

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