J.P. Morgan Private Equity Ltd reports significant progress since announcing a series of strategic initiatives to improve its capital structure and provide liquidity for holders of US dollar equity shares in November.

It says:

÷ Total indebtedness has been reduced by approximately $75m from 31 December 2012 to 30 November 2013 and total leverage ratio reduced from 38.5% to 29.9% over the same period;

÷ Overall cost of debt has been reduced by approximately 31.3% from 31 December 2012 to 30 November;

÷ 2013 ZDP share class retired in April 2013;

÷ $35.8m of non-core assets have been sold;

÷ $20m has been returned to US dollar equity shareholders by repurchasing 31,372,548 US dollar equity shares

JPEL says its US dollar equity share price increased 15.6% during calendar year 2013. Moreover, during the same period approximately 120 million US dollar equity shares have traded, representing 34.6% of total US dollar equity shares.