Business
REG - JPMorgan Emerg. EMEA - Half-year Report
REG - JPMorgan Emerg. EMEA - Half-year Report
About this update from Vtb
RNS Number : 0577O JPMorgan Emerging EMEA Securities 24 June 2025 LONDON STOCK EXCHANGE ANNOUNCEMENTJPMORGAN EMERGING EUROPE MIDDLE EAST & AFRICA SECURITIES PLCUNAUDITED HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 30TH APRIL 2025Legal Entity Identifier: 549300II3MHI98ZLVH37Information disclosed in accordance with DTR 4.2.2CHAIRMAN'S STATEMENTOverview and performanceDuring the six months ended 30th April 2025, the Company's net asset value on a total return basis increased by 6.8%, an out-performance of 4.5% against the Company's reference index, the S&P Emerging Europe, Middle East & Africa BMI Net Return in GBP, which increased 2.3% on a total return basis to the end of this reporting period. The reasons for the outperformance against the reference index was predominately due to stock selection. The Investment Manager's Report provides further information.As at 30th April 2025, the Company's share price was 273 pence, an increase of 127.0% on a total return basis in the six-month period. As at 19th June 2025 the share price was 224 pence. Please see the Discount Control section of this report for more details on the Company's share price.Update on VTB ClaimAs detailed in my Chairman's Statement included in the Company's 31st October 2024 annual report and financial statements and numerous RNS announcements since then, in the first half of 2024 VTB made a claim for $439 million in the Russian courts against a number of J.P.Morgan legal entities, including JPMorgan Bank International (the Russian sub-custodian for the Company's Russian assets) and the Company. The lower Russian court granted VTB's claim in full against all the defendants and the appeal court hearing has been adjourned until 2nd July 2025.In addition to VTB's $439 million claim referred to above, as detailed in previous RNS announcements, VTB has also made additional claims in the Russian courts against the same J.P.Morgan legal entities and the Company. No final determination has yet been made in relation to these claims.For further details regarding VTB's claims please refer to my Chairman's Statement in the Company's 31st October 2024 annual report and financial statements available to view on the Company's website: www.jpmeemeasecurities.comThe RNS announcements made by the Company regarding VTB's claims are available to view on the London Stock Exchange website https://www.londonstockex...