JPMorgan Russian Securities PLC Update from the Company (3400F)
18 Março 2022 - 1:55PM
UK Regulatory
TIDMJRS
RNS Number : 3400F
JPMorgan Russian Securities PLC
18 March 2022
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN RUSSIAN SECURITIES PLC
Legal Entity Identifier: 549300II3MHI98ZLVH37
Update from the Board of JPMorgan Russian Securities plc
Further to JPMorgan Russian Securities plc's (the "Company")
recent announcements regarding the US/EU/UK sanctions, the Board
provides the following update:
Earlier today, the Company announced the unaudited net asset
value per share, including income, of 40.3p, as at 17(th) March
2022. As described, due to the continued closure of the Moscow
Exchange (MOEX), the Company considers that there has been a
material change to the market value of its investments and it is in
the best interests of the shareholders to apply an alternative
valuation method. Following the unavailability of prices for the
MOEX, RDXUSD (Russian Depositary Index USD) and prices of American
Depositary Receipts (ADR) and Global Depositary Receipts (GDR), the
Company has applied a fair value against these investments. While
the Company has applied a fair value against these investments
there is no certainty that any value will be achievable from them
over the short, medium or even long term due to the factors arising
following the imposition of additional sanctions against
Russia.
As at 17(th) March 2022, the Company's unaudited net assets,
after the application of a fair value, were GBP16,296,992 and the
breakdown as a percentage of unaudited net assets was as
follows:
Companies listed in Kazakhstan: 66.8% (no fair valuation
applied)
MOEX traded securities, GDRs and ADRs: 6.5% (fair valuation
applied)
Russian securities traded on other international stock
exchanges:
11.3% (no fair valuation applied)
Cash and cash equivalents held in US$ money market funds:
15.4%
18(st) March 2022
For further information:
Paul Winship
Tim Mitchell
JPMorgan Funds Limited 020 7742 4000
Hugh Jonathan
Numis Securities plc 020 7260 1000
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