JPEL Private Equity Limited

Ground Floor

Cambridge House

Le Truchot, St Peter Port

Guernsey, GY1 1WD

www.jpelonline.com

JPEL ANNOUNCES RESULTS OF AGM

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GUERNSEY, 23 NOVEMBER 2021

JPEL Private Equity Limited (the "Company") announces that at the Annual General Meeting ("AGM") of the Company held on 23 November 2021, all resolutions put to shareholders at the AGM were duly passed.

SUMMARY OF RESOLUTIONS PROPOSED AT AGM

SUMMARY OF RESOLUTIONS TO BE PROPOSED

The following summarises all of the resolutions the Company sought approval for at the AGM.

Special Resolutions

1.          To renew the Company's authority to make purchases of up to 15 per cent. of its own issued Shares pursuant to any proposed Tender Offer.

2.          To renew the Company's general authority to make market purchases of up to 14.99 per cent. of its own issued Shares.

Ordinary Resolutions

3.          To approve and adopt the Annual Report and Financial Statements of the Company for the year ended 30 June 2021.

4.          To re-elect PricewaterhouseCoopers CI LLP as Auditors to the Company.

5.          To re-authorise the Directors to determine the Auditors' remuneration.

6.          To re-authorise and agree the remuneration of the Directors in accordance with the Articles of Incorporation.

7.          To re-elect Christopher P. Spencer as a non-executive, independent director of the Company, who retires by rotation.

8.          To re-elect Anthony (Tony) Dalwood as a non-executive, independent director of the Company, who retires by rotation.

9.          To re-elect Sean Hurst as a non-executive, independent director of the Company, who retires by rotation.

Below, please find a summary of all votes received for JPEL's AGM:

The Board has considered the results of the AGM today and notes the level of votes cast against resolution 7 (the re-election of Christopher P. Spencer) by a small number of shareholders.

We have engaged with our major shareholders ahead of the vote and understand their views on these matters and the differing philosophies they apply.  

Following the outcome of today's vote, we will contact shareholders to discuss these matters again and will keep best practice in these areas under review.   In accordance with the provisions of the 2019 AIC Code of Corporate Governance, we shall provide an update on this engagement process over the coming months.

Shareholders will also note that John Loudon has decided not to put himself forward for re-election as a director and stepped down from the Board immediately prior to the AGM. The remaining Directors would like the express their gratitude and thanks to Mr Loudon for the service that he has provided to the Company since its inception, and they wish him well with his future endeavours.

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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.  

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