JPMorgan American Investment Trust PLC

Capital/Financing Update • Jun 8, 2018

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RNS Number : 6904Q

JPMorgan American IT PLC

08 June 2018

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN AMERICAN INVESTMENT TRUST PLC

('the Company')

MATURITY AND REPAYMENT OF DEBENTURE STOCK AND

TACTICAL CHANGE IN GEARING LEVEL

£50,000,000 6.875 per cent. Secured Bonds due 2018

The Company entered into a Trust Deed (the "Trust Deed") with The Law Debenture Trust Corporation plc on 8th June 2000 constituting and securing £50,000,000 6.875 per cent. Secured Bonds. 

In accordance with the conditions set out in the Trust Deed, the Company has today repaid the Secured Bonds, together with the payment of the final semi-annual interest instalment.

Shareholders are reminded that the Company's gearing policy is to operate within a range of 5% net cash to 20% geared in normal market conditions, with the present strategic level being set at 10% plus or minus 2%. The Manager believes that current market conditions warrant a tactical gearing level of 5% plus or minus 2%. Accordingly the retirement of the debenture has not required any replacement borrowings at this time as it has been repaid out of the Company's own resources.

8th June 2018

For further information, please contact:

Alison Vincent

For and on behalf of

JPMorgan Fund Limited - Secretary

020 7742 6000

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