CATCo Reinsurance Opps Fund Ltd Transaction in Own Shares - Compulsory Redemption (2970Y)
May 12 2021 - 2:00AM
UK Regulatory
TIDMCAT
RNS Number : 2970Y
CATCo Reinsurance Opps Fund Ltd
12 May 2021
CATCo Reinsurance Opportunities Fund Limited (the "Company")
12 May 2021
Partial Compulsory Redemption of Shares
Following the redemption of 12,052,394 Ordinary Shares at a rate
of $0.2821 per Ordinary Share and 31,330,487 C Shares at a rate of
$0.5043 per C Share on 11 May 2021 (as previously announced on 13
March 2020 and updated on 30 April 2021), the Company now has
149,305,187 Ordinary Shares in issue and 83,230,467 C Shares in
issue. With effect from today, the Company's Ordinary Shares will
trade under the new ISIN number BMG1961Q2905 and the C Shares will
trade under the new ISIN number BMG1961Q3085.
The applicable redemption ratios were 0.074694122 in relation to
the Ordinary Shares and 0.273483729 in relation to the C Shares. On
this basis, a holder of 100,000 Ordinary Shares will have had 7,469
Ordinary Shares redeemed, and receive $2,107.00 in cash. A holder
of 100,000 C Shares will have had 27,348 C Shares redeemed, and
receive $13,791.59 in cash. Approximately 15.72% 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 149,305,187 Ordinary
Shares and 83,230,467 C Shares. Accordingly, the total number of
voting rights in the Company is 232,535,654.
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 19 May 2021, and paid by cheque to holders
of Ordinary Shares in certificated form on 21 May 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
POSEAESFFAAFEAA
(END) Dow Jones Newswires
May 12, 2021 02:00 ET (06:00 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