JPMorgan Elect wins half of El Oro – El Oro offered its investors the option of rolling their investment into JPMorgan Elect or choosing to take cash. Well over half the money will end up in JPMorgan Elect, which is a great result for the trust.
Nick Vermeulen and Christiaan Van Den Berg, both of PricewaterhouseCoopers CI LLP of Royal Bank Place, 1 Glategny Esplanade, St Peter Port, Guernsey, GY1 4ND have been appointed as liquidators.
On the calculation date the unaudited net asset value of El Oro was GBP46,215,013.27 (calculated on a bid basis and providing for the estimated expenses of the winding up of the company of GBP440,000, the value of illiquid assets of GBP1,142,692.69 (which will be retained in the liquidation fund) and a retention for the liquidation fund of GBP500,000). On this basis, the residual value of an El Oro share as at Thursday 27 June 2019 was GBP0.70959893 per share.
Based on the elections the remaining assets will be divided as follows:
- JPMorgan Elect Managed Growth Shares GBP5,888,812.67
- JPMorgan Elect Managed Income Shares GBP19,480,689.52
- JPMorgan Elect Managed Cash Shares GBP805,188.04
- Cash Option GBP18,397,142.28
Issue Prices
- JPMorgan Elect Managed Growth 870.92p
- JPMorgan Elect Managed Income 110.69p
- JPMorgan Elect Managed Cash 104.03p
Settlement
Cheques are expected to be despatched and CREST payments made on or as soon as practicable after 3 July 2019 and share certificates issued and despatched in the week commencing 15 July 2019.
JPE / JPEI / JPEC : JPMorgan Elect wins half of El Oro