JPMorgan Income & Capital Trust PLC Portfolio Update (4438C)

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RNS Number : 4438C

JPMorgan Income & Capital Trust PLC

19 January 2018

JPMORGAN INCOME & CAPITAL TRUST PLC

PORTFOLIO UPDATE

 
 Legal Entity Identifier: 
 549300VB8OIJVLR6HX75 
 

Information disclosed in accordance with Article 17 Market Abuse Regulation

19th January 2018

Portfolio Update

JPMorgan Income & Capital Trust launched as a split capital trust in March 2008 with a fixed life ending on 28 February 2018 (the "Termination Date"). The Company's portfolio (the "Portfolio") has seen strong performance in recent months and, in light of the upcoming Termination Date and market uncertainties, the Board announces that it has instructed the Investment Manager to liquidate the Portfolio, such that it now comprises solely cash and cash equivalents. The Board deems this approach to be in the best interests of the Company and its shareholders as whole.

The NAV per ordinary share (cum-income) as at close of business on 18 January 2018 was 104.1 pence (including the interim dividend of 2.0 pence per ordinary share, announced by the Company on 16 January 2017 and payable on 23 February to ordinary shareholders on the register at the close of business on 26 January 2018). It should be noted that this NAV does not reflect the full cost of the final capital entitlement of the ZDPs, given the gross redemption yield accrues to the Termination Date, or the costs associated with liquidating the Portfolio (being approximately 21.3bps on the value of the Portfolio).

Further details regarding a possible rollover option for shareholders into a new multi-asset trust, as indicated at the time of the Company's half year report in October 2017, is expected to be announced in due course.

For further information:

Paul Winship

JPMorgan Funds Limited - Secretary

Telephone: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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January 19, 2018 11:26 ET (16:26 GMT)