JPMorgan Emerging EMEA Securities Russian Court Oder - update
03 Maio 2024 - 2:00PM
RNS Regulatory News
RNS Number : 2539N
JPMorgan Emerging EMEA Securities
03 May 2024
LONDON STOCK EXCHANGE
ANNOUNCEMENT
JPMORGAN EMERGING EUROPE,
MIDDLE EAST & AFRICA SECURITIES PLC ('the Company' or
'JEMA')
Legal Entity Identifier:
549300II3MHI98ZLVH37
Russian Court Oder -
update
Following the announcement made on
25th April 2024, the Board announces that the Company's
Manager has today informed the Board of the following (in italics):
"The
Russian courts have confirmed that funds held in S accounts in the
name of JPMorgan Bank International
(JPMorgan's Russian subsidiary) are not subject to the freezing
order and the civil proceedings being brought by VTB in the Russian
courts, which were commenced on 17th April 2024.
We will continue to monitor the proceedings and update you on
relevant developments."
The proceedings referred to above
include JEMA's holdings in 26 Russian securities and the cash held
in the Company's 'S' Account. As at 31st October
2023, the Russian securities were valued at £1.6m in the Company's
accounts. The funds in the Company's 'S' Account have no value in
the Company's accounts because the sum of £19.3m in the 'S' Account
(as at 31st October 2023) is not recognised as an asset
in the Company's balance sheet. This is because the funds in the
'S' Account were 'frozen', following the introduction of sanctions
arising from Russia's invasion of Ukraine in 2022.
For more details about the Company's
Russian securities, 'S' Account and its other assets, please see
the Company's Annual Report and Financial Statements to
31st October 2023 available on the Company's
website www.jpmeemeasecurities.com
3 May 2024
For further information:
Paul Winship
Neil Martin
JPMorgan Funds
Limited
020 7742 4000
Hugh Jonathan
Numis Securities
plc
020 7260 1000
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