CATCo Reinsurance Opps Fund Ltd Transaction in Own Shares - Compulsory Redemption (3235L)
January 12 2021 - 2:00AM
UK Regulatory
TIDMCAT
RNS Number : 3235L
CATCo Reinsurance Opps Fund Ltd
12 January 2021
CATCo Reinsurance Opportunities Fund Limited (the "Company")
12 January 2021
Partial Compulsory Redemption of Shares
Following the redemption of 7,541,412 Ordinary Shares at a rate
of $0.2652 per Ordinary Share and 11,808,631 C Shares at a rate of
$0.5081 per C Share on 11 January 2021 (as previously announced on
13 March 2020 and updated on 23 December 2020), the Company now has
161,357,581 Ordinary Shares in issue and 114,560,954 C Shares in
issue. With effect from today, the Company's Ordinary Shares will
trade under the new ISIN number BMG1961Q2749 and the C Shares will
trade under the new ISIN number BMG1961Q2822.
The applicable redemption ratios were 0.044650816 in relation to
the Ordinary Shares and 0.093445736 in relation to the C Shares. On
this basis, a holder of 100,000 Ordinary Shares will have had 4,465
Ordinary Shares redeemed, and receive $1,184.11 in cash. A holder
of 100,000 C Shares will have had 9,344 C Shares redeemed, and
receive $4,747.68 in cash. Approximately 6.55% 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 161,357,581 Ordinary
Shares and 114,560,954 C Shares. Accordingly, the total number of
voting rights in the Company is 275,918,535.
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 15 January 2021, and paid by cheque to
holders of Ordinary Shares in certificated form on 21 January
2021.
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
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
POSEADFFFDLFEAA
(END) Dow Jones Newswires
January 12, 2021 02:00 ET (07:00 GMT)
Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From Jul 2023 to Jul 2024