JP Morgan issued an RNS immediately saying there are “at present no plans to difficulty shares or increase capital”.
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 assume the fund needs to be delisted, surplus money paid out and frozen till such a time as we will 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 means to get rid of 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 reside funding car with 41p/share reside belongings, coupled with an unvaluable (in impact) quantity of Russian inventory.
This merely isnt a wise plan and may nonetheless be voted towards on the earliest alternative.
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