CATCo Reinsurance Opps Fund Ltd Transaction in Own Shares-Compulsory Redemption (4402B)
October 08 2020 - 2:00AM
UK Regulatory
TIDMCAT
RNS Number : 4402B
CATCo Reinsurance Opps Fund Ltd
08 October 2020
CATCo Reinsurance Opportunities Fund Limited (the "Company")
8 October 2020
Partial Compulsory Redemption of Shares
Following the redemption of 59,864,382 Ordinary Shares at a rate
of $0.2656 per Ordinary Share and 153,186,446 C Shares at a rate of
$0.5131 per C Share on 7 October 2020 (as previously announced on
13 March 2020 and updated on 30 September 2020), the Company now
has 168,898,993 Ordinary Shares in issue and 126,369,585 C Shares
in issue. With effect from today, the Company's Ordinary Shares
will trade under the new ISIN number BMG1961Q2582 and the C Shares
will trade under the new ISIN number BMG1961Q2665.
The applicable redemption ratios were 0.261687243 in relation to
the Ordinary Shares and 0.547963542 in relation to the C Shares. On
this basis, a holder of 100,000 Ordinary Shares will have had
26,168 Ordinary Shares redeemed, and receive $6,950.22 in cash. A
holder of 100,000 C Shares will have had 54,796 C Shares redeemed,
and receive $28,115.82 in cash. Approximately 41.91% of the issued
share capital was redeemed.
In conformity with the FCA's Disclosure Guidance and
Transparency Rules (DTR 5.6.1), the Company notifies that the
Company's issued share capital now consists of 168,898,993 Ordinary
Shares and 126,369,585 C Shares. Accordingly, the total number of
voting rights in the Company is 295,268,578.
This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in the
Company under the FCA's Disclosure Guidance and Transparency Rules
(DTR 5.1.2).
It is expected that the proceeds of the redemption will be paid
through CREST to holders of Ordinary Shares and C Shares in
uncertificated form on 13 October 2020, and paid by cheque to
holders of Ordinary Shares in certificated form on 19 October
2020.
Capitalised terms used but not defined in this announcement
shall bear the meanings ascribed to them in the Circular to
Shareholders dated 13 March 2020.
Enquiries:
For further information:
Markel CATCo Investment Management Ltd. Numis Securities Limited
Judith Wynne David Benda / Hugh Jonathan
General Counsel Telephone: +44 (0) 20 7260
Telephone: +1 441 493 9005 1000
Email: judith.wynne@markelcatco.com
Mark Way
Chief of Investor Marketing
Telephone: +1 441 493 9001
Email: mark.way@markelcatco.com
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END
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