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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Jpmorgan Brazil Investment Trust Plc | LSE:JPB | London | Ordinary Share | GB00B602HS43 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 66.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMJPB
RNS Number : 3395Z
JPMorgan Brazil Investment Trust
17 September 2020
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN BRAZIL INVESTMENT TRUST PLC
RESULTS OF ANNUAL GENERAL MEETING
Legal Entity Identifier: 5493002T5BE3YCTKTE20
Information disclosed in accordance with DTR 9.6.18
Following the Annual General Meeting ('AGM') of the Company, which was held today, the Board announces that all of the resolutions put to the shareholders were passed except Resolution No. 10 relating to the Continuation Vote.
The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Financial Statements which is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and from the Company's website, www.jpmbrazil.co.uk.
The full results of the poll conducted at today's meeting will shortly be available on the Company's website.
Liquidation Proposals
As noted above, the Company's continuation vote was not passed by Shareholders at the AGM. The Directors had recommended that Shareholders vote against continuation, with the Chairman noting in his statement in this year's Annual Report that despite the long term potential of the Brazilian economy and stock market, the political and economic challenges facing the country remain substantial and it is not possible to be confident about when this potential may be realised. The Directors had also taken the feedback received from Shareholders into account in reaching their recommendation.
The Directors have carefully considered the options available to the Company and have concluded that the most appropriate option will be to put proposals to Shareholders for the orderly liquidation of the Company (the 'Liquidation'), returning cash to shareholders at NAV less costs (the "Proposals").
The Board anticipates publishing a circular in connection with the Proposals by the end of October 2020 convening a general meeting to approve the Liquidation in November 2020.
Board change
Further, the Company confirms that as announced, Mr. Howard Myles, who had served on the Board as Chairman for 10 years, retired at the conclusion of the AGM and Mr. Victor Bulmer-Thomas has assumed the role of Board Chairman.
17th September 2020
For further information, please contact:
Priyanka Vijay Anand
Company Secretary
For and on behalf of
JPMorgan Funds Limited
020 7742 4000
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END
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(END) Dow Jones Newswires
September 17, 2020 09:22 ET (13:22 GMT)
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