CATCo Reinsurance Opps Fund Ltd Compulsory Acqn of Shares (0009I)
November 30 2022 - 2:00AM
UK Regulatory
TIDMCAT
RNS Number : 0009I
CATCo Reinsurance Opps Fund Ltd
30 November 2022
CATCo Reinsurance Opportunities Fund Limited (the "Company")
30 November 2022
Partial Compulsory Redemption of Shares
Following the redemption of 1,379,027 Ordinary Shares at a rate
of $3.3355 per Ordinary Share and 754,052 C Shares at a rate of
$17.5042 per C Share on 29 November 2022 (as previously announced
on 13 March 2020 and updated on 21 November 2022), the Company now
has 114,104 Ordinary Shares in issue and 78,324 C Shares in issue.
With effect from today, the Company's Ordinary Shares will trade
under the new ISIN number BMG1961Q3242 and the C Shares will trade
under the new ISIN number BMG1961Q3168.
The applicable redemption ratios were 0.923631617 in relation to
the Ordinary Shares and 0.905965573 in relation to the C Shares. On
this basis, a holder of 1,000 Ordinary Shares will have had 923
Ordinary Shares redeemed, and receive $3,078.66 in cash. A holder
of 1,000 C Shares will have had 905 C Shares redeemed, and receive
$15,841.30 in cash. Approximately 91.73% 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 114,104 Ordinary
Shares and 78,324 C Shares. Accordingly, the total number of voting
rights in the Company is 192,428.
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 6 December 2022, and paid by cheque to
holders of Ordinary Shares in certificated form on 8 December
2022.
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 Numis Securities Limited
Ltd.
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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