JP Morgan issued an RNS in the present day saying there are “at present no plans to difficulty shares or increase capital”.
I don’t like using 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 needs to 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’d outline as MOEX +/- 10%. I’m very conscious this may occasionally 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 capacity to get rid of Russian shares – if one thing like that is proposed I’ll help it.
There isn’t any 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 smart plan and may nonetheless be voted in opposition to on the earliest alternative.
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