JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
update TO SHAREHOLDERS
GUERNSEY, 6 JULY 2022
Further to the announcement on 3 May 2022, JPEL Private Equity Limited's ("JPEL" or the "Company") Board would like to update shareholders on the next phase of the strategic plan for the Company.
JPEL's Board continues to work with FCF JPEL Management LLC (the "Manager"), as well as its corporate broker and counsel, to maximize shareholder value.
As an immediate first step, the Board has focused on addressing the Company's expense structure in an effort to reduce the Company's Ongoing Charges. Accordingly, with effect from the commencement of the financial year starting 1 July 2022, the Company will change its reporting frequency from monthly reporting to quarterly reporting and will only publish a net asset value and report to shareholders on a quarterly basis. The reduction in frequency of reporting is expected to reduce administrative expenses.
The Board would also like to remind shareholders that JPEL will continue to run-off its portfolio organically, and will revisit a variety of options once JPEL's NAV approaches approximately $30 million. Global markets have been affected by well documented macroeconomic factors and the JPEL portfolio may be impacted similar to other private equity assets which may delay realisation activity.
LEI Number: 5493005M6GBE3DNJZ894
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.
A copy of this announcement will be available on the Company's website at www.jpelonline.com. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
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, the UK version of the Market Abuse Regulation (2014/596/EU) or other applicable laws, regulations or rules.
ENQUIRIES:
FCF JPEL Management LLC
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