The last date on which holders of subscription shares (the “Subscription Shares”) in JPMorgan Chinese Investment Trust plc (the "Company") were able to exercise their subscription rights was 15 May 2013 (the “Final Exercise Date”). Immediately after this date, the Company appointed a trustee (the “Final Subscription Trustee) over the outstanding Subscription Shares. In accordance with the Subscription Share terms, the Final Subscription Trustee had to decide whether or not to exercise the outstanding Subscription Share rights within 14 days of the Final Exercise Date, such period expiring at close of business on 29 May 2013.
On the basis that the market price of the JPMorgan Chinese Investment Trust plc Ordinary Shares as at 29 May 2013 was below the Subscription Price, the Final Subscription Trustee decided not to exercise the outstanding Subscription Rights attached to the outstanding JPMorgan Chinese Subscription Shares totalling 12,683,443. Therefore, the Subscription Share rights lapsed at close of business on 29 May 2013 and, in accordance with the shareholder resolutions passed on 22 January 2013, all outstanding Subscription Shares were redesignated immediately into deferred shares and subsequently repurchased by the Company and cancelled.
The UK Listing Authority suspended the listing of the Subscription Shares from 7.30 a.m. on 16 May 2013, following the passing of the Final Exercise Date, and the Financial Conduct Authority cancelled the Subscription Shares from the Official List on 28 June 2013.