The trust said 76.9 million shares, or 51.7 percent of those on issue, were validly tendered under the offer. Shareholders had approved a 24.99 percent tender offer, the trust said.
"The basic entitlement of all shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 21.99 percent of the excess shares tendered," the trust said.
Details of the tender price would be announced on 29 November.
At 11:01am: [LON:JAI] share price was +1.5p at 196.5p
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