Portfolio Update
Updated : 07:01
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AND AS AMENDED ("UK MAR")
LEI Number: 5493005M6GBE3DNJZ894
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey GY1 4BF
25 October 2024
Portfolio update
As referenced in JPEL Private Equity Limited's ("JPEL" or the "Company") audited financial statements dated 30 June 2024, the Company's subsidiary has today entered into a two year Put Option Agreement (the "Option") relating to its investment in the Tax Advisory Services company. The Option provides JPEL the right, but not the obligation, to sell its investment in the company after 24 October 2025 at the 30 June 2024 valuation. The Option is subject to customary closing conditions that, if not satisfied or waived, could result in some or all investment not being sold. The purpose of entering into the Option is to preserve the current carrying value while allowing for potential investment value upside through to 24 October 2026. In addition, if the Option is exercised in one year, the Company believes it could accelerate liquidity for its largest investment (valued at $12.8 million representing approximately 42% of the net asset value as at 30 June 2024) by up to 24 months. The Option also provides additional support for the third-party valuation used for the year end 2024 mark.
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The person responsible for arranging the release of this announcement on behalf of JPEL is Sean Hurst, Chairman.
About JPEL Private Equity Limited
JPEL Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL) designed primarily to invest in the global private equity market. The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well-diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market.
This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations are forward-looking statements. Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules made under Part VI of the Financial Services and Markets Act 2000 of the Financial Conduct Authority, UK MAR or other applicable laws, regulations or rules.
ENQUIRIES:
FCF JPEL Limited LLC
JPELClientService@fortress.com
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