Africa Opportunity Fund Limited Completion of Mandatory Redemption (7107Q)
June 23 2020 - 2:00AM
UK Regulatory
TIDMAOF
RNS Number : 7107Q
Africa Opportunity Fund Limited
23 June 2020
23 June 2020
Africa Opportunity Fund Limited
Completion of Mandatory Redemption
PDMR Dealings
The Board of Directors of Africa Opportunity Fund Limited ("AOF"
or the "Company") is pleased to announce that the partial mandatory
redemption of the Company's Ordinary Shares announced on 15 June
2020 has been completed with the redemption of 9,565,216 Ordinary
Shares ("Mandatory Redemption").
On 22 June 2020 , AOF redeemed 9,565,216 Ordinary Shares, on a
pro rata basis, at the prevailing NAV per Ordinary Share of $
0.5750 as at 31 May 2020 . Such shares were cancelled automatically
following their redemption.
Fractions of shares produced by the applicable redemption ratios
have not been redeemed and so the number of shares redeemed in
respect of each shareholder has been rounded down to the nearest
whole number of shares.
Payments of redemption proceeds are expected to be effected
either through Euroclear or Clearstream (in the case of shares held
in uncertificated form) or by cheque (in the case of shares held in
certificated form) on or around 25 June 2 020 . Any share
certificates for the balance of holdings of shares will also be
despatched to shareholders on or around 25 June 2020.
Following the Mandatory Redemption, the Company has 35,006,160 Ordinary Shares in issue.
The Ordinary Shares were disabled on the record date ( 22 June
2020 ) and the ISIN number KYG012921204 (the "Old ISIN") has
expired. The new ISIN number KYG012921386 (the "New ISIN") in
respect of the remaining 35,006,160 Ordinary Shares which have not
been redeemed will be enabled and will be available for
transactions on 23 June 2020 .
DIRECTOR'S INTERESTS
As of 15 June 2020, Robert Knapp and Myma Belo-Osagie, Directors
of the Company, owned 7,195,387 and 59,548 Ordinary Shares,
respectively. As a result of the Mandatory Redemption described
above, Robert Knapp and Myma Belo-Osagie now hold 5,651,225 and
46,769 Ordinary Shares, respectively.
The FCA notifications, made in accordance with the requirements
of the EU Market Abuse Regulation, are appended below.
* * *
For more information please contact:
Africa Opportunity Fund Limited
Francis Daniels Tel: +2711 684 1528
Liberum (Corporate Broker) Tel: +44 20 3100 2000
Gillian Martin
Owen Matthews
For more information about AOF, see
www.africaopportunityfund.com
LEI: 213800R1UVN1T8YXS179
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Robert Knapp
--------------------- --------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Non-executive Director
--------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- --------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Africa Opportunities Fund Limited
--------------------- --------------------------------------------------
b) LEI 213800R1UVN1T8YXS179
--------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description Ordinary shares of $0.01 each ("Ordinary Shares")
of the financial
instrument,
type of instrument ISIN number KYG012921386
Identification
code
--------------------- --------------------------------------------------
b) Nature of Mandatory Redemption of Ordinary Shares
the transaction
--------------------- --------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) $0.575 1,544,162
----------
--------------------- --------------------------------------------------
d) Aggregated N/A - Single Transaction
information
- Aggregated
volume
- Price
--------------------- --------------------------------------------------
e) Date of the 23/06/2020
transaction
--------------------- --------------------------------------------------
f) Place of London Stock Exchange
the transaction
--------------------- --------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Myma Belo-Osagie
--------------------- --------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Non-executive Director
--------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- --------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Africa Opportunities Fund Limited
--------------------- --------------------------------------------------
b) LEI 213800R1UVN1T8YXS179
--------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description Ordinary shares of $0.01 each ("Ordinary Shares")
of the financial
instrument,
type of instrument ISIN number KYG012921386
Identification
code
--------------------- --------------------------------------------------
b) Nature of Mandatory Redemption of Ordinary Shares
the transaction
--------------------- --------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) $0.575 12,779
----------
--------------------- --------------------------------------------------
d) Aggregated N/A - Single Transaction
information
- Aggregated
volume
- Price
--------------------- --------------------------------------------------
e) Date of the 23/06/2020
transaction
--------------------- --------------------------------------------------
f) Place of London Stock Exchange
the transaction
--------------------- --------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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