CATCo Reinsurance Opps Fund Ltd Additional Side Pocket Releases (4935V)
April 15 2021 - 2:00AM
UK Regulatory
TIDMCAT
RNS Number : 4935V
CATCo Reinsurance Opps Fund Ltd
15 April 2021
FOR IMMEDIATE RELEASE
15 April 2021
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Side Pocket Release Update
To: SFS, London Stock Exchange and Bermuda Stock Exchange
The Company is pleased to announce that it has been advised of a
further release of Side Pocket Investment ("SPI") capital amounting
to approximately $19.2 million. This is expected to be paid to the
Company during May 2021, following which the Company intends to use
it to carry out a seventh compulsory redemption of its shares.
The updated breakdown of the payments to the Ordinary
Shareholders and C Shareholders is approximately $3.4 million and
approximately $15.8 million respectively.
Subsequent to Shareholder approval being given on 26 March 2019
to put the Company's portfolios into run-off, and including this
seventh compulsory redemption, the Company will have returned a
total of approximately $287.1 million to Shareholders by way of
compulsory redemptions, dividend, a tender offer and share
buybacks, of which approximately $63.0 million will have been paid
to the Ordinary Shareholders and approximately $227.5 million to
the C Shareholders
The Company will issue further details of the expected timetable
for this seventh compulsory redemption shortly.
This announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
For further information:
Markel CATCo Investment Management Ltd. Numis Securities Limited
David Benda / Hugh Jonathan
Judith Wynne Telephone: +44 (0) 20 7260
General Counsel 1000
Telephone: +1 441 493 9005
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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