JPMorgan Elect Managed Growth will seek approval from its shareholders for a share repurchase program at the Annual General Meeting to be held on December 19, 2013. Under the program, the company will repurchase up to 5,566,555 Managed Growth shares, 7,727,492 Managed Income shares and 1,220,276 Managed Cash shares, representing 14.99% of its issued share capital. The minimum price which may be paid for a Managed Growth, Managed Income and Managed Cash share shall be 0.01p, 0.003p and 0.003p respectively.

The maximum price which may be paid for a share shall be an amount equal to the highest of either 105% of the average of the middle market quotations for the share taken from and calculated by reference to the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the share is purchased; or the price of the last independent trade; or the highest current independent bid. The program will be valid till the next Annual General Meeting or till June 18, 2015, whichever is earlier. As of October 29, 2013, the company has 37,135,126 Managed Growth shares, 51,550,981 Managed Income shares and 8,140,605 Managed Cash shares in issue.