JP Morgan issued an RNS right this moment saying there are “presently no plans to situation shares or increase capital”.
I don’t like using the phrase ‘presently’, as, in the event that they write the plans tomorrow its technically not an unfaithful assertion.
I merely don’t belief them and assume the fund must be delisted, surplus money paid out and frozen till such a time as we are able to get our cash out at an affordable valuation – which I might outline as MOEX +/- 10%. I’m very conscious this will take a number of years however am nothing if not affected person. There may be some motion amonst shareholders to place ahead a decision limiting their potential to eliminate Russian shares – if one thing like that is proposed I’ll assist it.
There is no such thing as a benefit to creating this a stay funding car with 41p/share stay belongings, coupled with an unvaluable (in impact) quantity of Russian inventory.
This merely isnt a wise plan and will nonetheless be voted in opposition to on the earliest alternative.
Revealed by