Response to Electric & General IT plc Update (5234B)
18 Fevereiro 2011 - 2:24PM
UK Regulatory
TIDMJMO TIDMENG
RNS Number : 5234B
JPMorgan Overseas IT PLC
18 February 2011
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN OVERSEAS INVESTMENT TRUST PLC
Response to Electric & General Investment Trust plc's Update
on Reconstruction Proposals
18 February 2011
The Board of JPMorgan Overseas Investment Trust plc (the
'Company') notes the announcement made on 16 February 2011 by
Electric & General Investment Trust plc ('E&G') that
provides an 'Update on Reconstruction Proposals'.
The Board of the Company is disappointed that, despite
engagement with the Board of E&G during the last year in
connection with the Company potentially participating in any
reconstruction of E&G, the only roll over option available to
E&G shareholders is into an open ended investment company.
There is no closed ended alternative nor is there an opportunity to
roll over to access a different investment manager, in a tax
efficient manner.
The Board and J.P. Morgan Asset Management, the manager of the
Company, is of the opinion that the inclusion of the Company could
have enhanced the Reconstruction Proposals, brought benefits to
both the Company's shareholders and E&G's shareholders and are
disappointed that this opportunity has not been presented to
E&G shareholders.
Enquiries:
Simon Davies - Chairman, JPMorgan Overseas Investment Trust plc
- 020 7742 1025
David Barron - Head of Investment Trusts, J.P. Morgan Asset
Management - 020 7742 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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