JP Morgan Russian – saying they gained’t challenge shares – nonetheless vote No to every thing. – Deep Worth Investments Weblog

JP Morgan issued an RNS in the present day saying there are “at present no plans to challenge shares or increase capital”.

https://www.londonstockexchange.com/news-article/JRS/update-on-proposals-for-new-investment-objective/15704505

I don’t like the usage of the phrase ‘at present’, as, in the event that they write the plans tomorrow its technically not an unfaithful assertion.

I merely don’t belief them and suppose 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 inexpensive 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 skill 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 dwell funding car with 41p/share dwell belongings, coupled with an unvaluable (in impact) quantity of Russian inventory.

This merely isnt a smart plan and may nonetheless be voted towards on the earliest alternative.