JPMorgan European Discovery Trust plc (LON:JEDT) has announced, further to its announcement on 20 June 2024, it will proceed with making a tender offer to give Shareholders the opportunity to tender up to 15 per cent. of the issued share capital in the Company (excluding Shares held in treasury) at a discount of 2 per cent. to the unaudited NAV per Share on the Calculation Date, less the costs and expenses of the Tender Offer. The Tender Offer is subject to Shareholder approval at the General Meeting.
In addition, and as announced by the Company on 20 June 2024, the Board intends to introduce a performance related tender offer for up to 15 per cent. of the issued share capital (excluding Shares held in treasury) if the Company’s NAV total return does not equal or exceed the benchmark total return (MSCI Europe ex UK Small Cap Index (net)) over the five-year period beginning on 1 April 2024 and ending on 31 March 2029. This conditional tender offer would be subject to a separate Shareholder approval and would also be at a discount of 2 per cent. to the unaudited NAV per Share at the relevant time, less the costs and expenses of implementing that further tender offer.
