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For immediate release
30 November 2012
JPMorgan American Investment Trust plc
Results of Placing and Total Voting Rights
Further to the Company's announcement earlier today, the Board of Directors is pleased to announce that the Company has raised approximately £4.6m before expenses pursuant to a non pre-emptive placing of shares (the "Placing"). A total of 503,500 new ordinary shares will be issued at the issue price of 913.5p per share (the "Issue Price").
The Company has decided to issue shares at a smaller premium of 1.02%, as a result of good demand for shares, rather than at the likely indicated premium announced yesterday of 1.25%. The ability to issue a greater number of shares at the Issue Price incorporating a marginally lower premium to NAV is more beneficial to the Company than if it had proceeded with a Placing and issued fewer Shares at a marginally higher premium to NAV.
Application has been made for the new ordinary shares to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the main market for listed securities of the London Stock Exchange. Dealings in the new ordinary shares are expected to commence on 5 December 2012 ("Admission").
Following Admission, the Company will have a market capitalization (at the Issue Price) of approximately £457.6 million.
Total Voting Rights
Following Admission, the total issued share capital of the Company will consist of 50,091,592 ordinary shares with voting rights. This figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
For further information please contact:
JPMorgan Asset Management (UK) Limited +44 (0) 20 7742 3418
Canaccord Genuity Limited +44 (0) 20 7523 8000
Robbie Robertson/Andrew Zychowski/
Neil Brierley/Will Barnett
THE ORDINARY SHARES THAT ARE THE SUBJECT OF THE PLACING (THE "PLACING SHARES") ARE NOT BEING OFFERED OR SOLD TO ANY PERSON IN THE EUROPEAN UNION, OTHER THAN TO "QUALIFIED INVESTORS" AS DEFINED IN ARTICLE 2.1(E) OF DIRECTIVE 2003/71/EC (THE "PROSPECTUS DIRECTIVE"), WHICH INCLUDES LEGAL ENTITIES WHICH ARE REGULATED BY THE FINANCIAL SERVICES AUTHORITY (THE "FSA") OR ENTITIES WHICH ARE NOT SO REGULATED WHOSE CORPORATE PURPOSE IS SOLELY TO INVEST IN SECURITIES.
The Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States or to or for the benefit of U.S. Persons (as such term is defined in Rule 902 of Regulation S under the Securities Act ("Regulation S")) absent registration, except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. No public offering of the Placing Shares is being made in the United States. The Placing is being made outside the United States in offshore transactions (as defined in Regulation S) meeting the requirements of Regulation S under the Securities Act. Persons receiving this document (including custodians, nominees and trustees) must not forward, distribute, mail or otherwise transmit it in or into the United States or use the United States mails, directly or indirectly, in connection with the Placing.
This document does not constitute an offer to sell or issue or a solicitation of an offer to buy or subscribe for Placing Shares in any jurisdiction including, without limitation, the United States, Canada, Australia, the Republic of South Africa, New Zealand, the Republic of Ireland or Japan or any other jurisdiction in which such offer or solicitation is or may be unlawful (a "Prohibited Jurisdiction"). This document and the information contained herein are not for publication or distribution, directly or indirectly, to persons in a Prohibited Jurisdiction unless permitted pursuant to an exemption under the relevant local law or regulation in any such jurisdiction.
Canaccord Genuity Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for JPMorgan American Investment Trust plc and for no one else in connection with the Placing and will not be responsible to anyone other than JPMorgan American Investment Trust plc for providing the protections afforded to clients of Canaccord Genuity Limited or for affording advice in relation to the Placing, or any other matters referred to herein.
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