JP Morgan Russian – saying they gained’t concern shares – nonetheless vote No to all the pieces. – Deep Worth Investments Weblog


JP Morgan issued an RNS as we speak saying there are “presently no plans to concern shares or increase capital”.

I don’t like the usage of 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 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 affordable valuation – which I might outline as MOEX +/- 10%. I’m very conscious this will likely take a number of years however am nothing if not affected person. There’s some motion amonst shareholders to place ahead a decision limiting their capacity to eliminate Russian shares – if one thing like that is proposed I’ll help it.

There is no such thing as a benefit to creating this a stay funding automobile with 41p/share stay property, coupled with an unvaluable (in impact) quantity of Russian inventory.

This merely isnt a wise plan and may nonetheless be voted in opposition to on the earliest alternative.


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