TA FUNDS SOLD 26M JUPITER FUND SHARES AT PRICE OF 318P
(The following is a reformatted version of a press release issued by J.P. Morgan Cazenove and received via electronic mail. The release was confirmed by the sender.)
PLACING OF 26,000,000 ORDINARY SHARES IN JUPITER FUND MANAGEMENT PLC
(THE “COMPANY”) BY FUNDS ADVISED BY TA ASSOCIATES MANAGEMENT LP
20 March 2013
Further to the announcement released earlier today, the funds advised by TA Associates Management L.P. (the “TA Funds”) announce that they have sold 26,000,000 ordinary shares in the Company at a price of 318 pence per share (the “Placing”). The TA Funds have raised aggregate gross sale proceeds of approximately £82.7 million through the Placing. Following completion of the Placing, the TA Funds will hold 61,079,760 ordinary shares in the Company, representing approximately 13.3% of the Company’s ordinary shares. Any of the Company’s shares held by the TA Funds which were not sold in the Placing will be subject to a 90 day lockup (subject to customary exceptions). Following completion of the Placing, the TA Funds will continue to be represented on the board of the Company.
The proceeds of the Placing are payable in cash on usual settlement terms and closing of the Placing is expected to occur on a T+3 basis on 25 March 2013, subject to the satisfaction or waiver of certain customary conditions.
J.P. Morgan Securities plc. (which conducts its UK investment banking activities as J.P. Morgan Cazenove) (“J.P. Morgan Cazenove”) is acting as sole bookrunner in connection with the Placing.
J.P. Morgan Cazenove +44 (0)20 7588 2828 Jonathan Wilcox Barry Meyers