JPMorgan Global Growth & Income plc
WRAP Retail Offer
JPMorgan Global Growth & Income plc (“JGGI” or the “Company“) is pleased to announce a retail offer via the Winterflood Retail Access Platform (“WRAP“) (the “WRAP Retail Offer“).
The WRAP Retail Offer is being undertaken alongside a placing (the “Placing“) of new ordinary shares in the Company (“Ordinary Shares“) as announced earlier today. The new Ordinary Shares to be issued in connection with the WRAP Retail Offer and the Placing will be issued pursuant to the Company’s existing shareholder authorities granted at the Company’s AGM held on 2 November 2023. Any Ordinary Shares issued pursuant to the Placing and WRAP Retail Offer will be issued at a price equal to a 0.60% premium to the last published cum-income NAV per Share prior to the fundraising close (the “Issue Price“). The Issue Price is expected to be announced on 20 February 2024. For the avoidance of doubt, the WRAP Retail Offer is not part of the Placing. The new Ordinary Shares will not be subject to stamp duty.
The net proceeds of the WRAP Retail Offer will be invested in accordance with the Company’s investment policy.
Applications will be made to the Financial Conduct Authority for admission of the new Ordinary Shares to the premium listing segment of the Official List and to the London Stock Exchange for admission to trading of the new Ordinary Shares on its main market for listed securities (“Admission“). It is expected that Admission will become effective at 8.00 a.m. on 23 February 2024 and that dealings in the new Ordinary Shares will commence at that time.
Further information on the Company can be found at the Company’s website: www.jpmglobalgrowthandincome.co.uk.
WRAP Retail Offer
Eligible retail investors (as defined herein) can contact their broker or wealth manager or other intermediary to participate in the WRAP Retail Offer.
The WRAP Retail Offer is expected to close at 13:00 on 20 February 2024. Eligible retail investors should note that financial intermediaries may have earlier closing times. The result of the WRAP Retail Offer is expected to be announced by the Company alongside the result of the fundraising on or around 21 February 2024.
Intermediaries wishing to participate in the WRAP Retail Offer on behalf of eligible retail investors, should contact WRAP@winterflood.com.
To be eligible to participate in the WRAP Retail Offer, applicants must be customers of a participating intermediary (including individuals aged 18 years or over), companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations (“Eligible Retail Investors“).
There is a minimum subscription of £100 per investor under the WRAP Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commissions, fees, or charges.
The Company reserves the right to scale back any order under the WRAP Retail Offer at its discretion. The Company reserves the right to reject any application for subscription under the WRAP Retail Offer without giving any reason for such rejection.
It is vital to note that once an application for new Ordinary Shares has been made and accepted via an intermediary, it cannot be withdrawn.
The new Ordinary Shares will, when issued, be credited as fully paid, and have the right to receive all dividends and other distributions declared, made or paid after their date of issue.
It is a term of the WRAP Retail Offer that the total value of the Ordinary Shares available for subscription through the WRAP Retail Offer does not exceed EUR 8 million (or the equivalent amount in GBP, calculated in accordance with FSMA).
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for new Ordinary Shares and investment in the Company carries a number of risks, including the risk that investors may lose their entire investment. Investors should take independent advice from a person experienced in advising on investment in securities such as the new Ordinary Shares if they are in any doubt.
An investment in the Company will place capital at risk. The value of investments, and any income, can go down as well as up, so investors could get back less than the amount invested.
Neither past performance nor any forecasts should be considered a reliable indicator of future results.
The WRAP Retail Offer is offered in the United Kingdom under the exemption from the requirement to publish a prospectus in sections 86(1)(e) and 86(4) of FSMA. As such, there is no need for publication of a prospectus pursuant to the United Kingdom version of Regulation (EU) 2017/1129 as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended), or for approval of the same by the Financial Conduct Authority (the “FCA“). The WRAP Retail Offer is not being made into any jurisdiction other than the United Kingdom.
| JPMorgan Global Growth & Income plcTristan Hillgarth | Contact via Company Secretary |
| JPMorgan Funds Limited | +44 (0) 20 7742 4000 |
| Simon CrinageFin Bodman | |
| JPMorgan Funds Limited (Company Secretary)Divya Amin | +44 (0) 20 7742 4000 |
| Winterflood Retail Access PlatformAndrew StancliffePhoebe Pankhurst | WRAP@winterflood.com+44(0) 20 3100 0000 |
| Winterflood Securities (Broker to the Company)Neil LangfordHaris Khawaja | +44(0) 20 3100 0000 |