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Conversion of Securities

18th Feb 2021 17:22

RNS Number : 6454P

JPMorgan Elect PLC

18 February 2021

JPMORGAN ELECT PLC

(the 'Company')

Conversion and Repurchase of Shares

The Company announces that valid Conversion Notices have been received in respect of 11,550 Managed Growth Shares, 837,964 Managed Income Shares and 203,120 Managed Cash Shares.

Repurchase of Shares

55,046 Managed Cash Shares will be repurchased at a price of 102.64 pence per share based on a capital net asset value per Managed Cash Share of 103.16 pence as at close of business on 12th February 2021.

It is expected that cheques, in respect of the Managed Cash Shares being repurchased, will be despatched on 10 March 2021.

Conversion of Shares

At 8.00 a.m. on 1st March 2021, the following conversions will take place:

Stock to Convert:	Conversion Ratio:	Converted	Total Number of Shares Following the Conversion and Repurchase*
		Into:
1,307 Managed Cash Shares to Managed Growth Shares	0.102541	69,712	28,840,650
730,841 Managed Income Shares to Managed Growth Shares	0.095203	Managed Growth Shares	Managed Growth Shares
1,412 Managed Growth Shares to Managed Income Shares	10.412674	231,095	77,247,859
201,813 Managed Cash Shares to Managed Income Shares	1.072241	Managed Income Shares	Managed Income Shares
107,123 Managed Income Shares to Managed Cash Shares	0.924583	197,071	7,534,909
10,138 Managed Growth Shares to Managed Cash Shares	9.669252	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 on12th February 2021. 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 1st March 2021. It is expected that Certificates in respect of the resulting shares will be posted by 10th March 2021.

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

18th February 2021

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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