Pacific Alliance Asia Opp Fd Ld Director Dealing and Share Dealing (3066K)

TIDMPAX

RNS Number : 3066K

Pacific Alliance Asia Opp Fd Ld

29 July 2013

Pacific Alliance Asia Opportunity Fund Limited

Director Dealing and Share Dealings

Pacific Alliance Asia Opportunity Fund Limited ("PAX" or the "Company") (AIM: PAX), the closed-end investment company admitted to trading on AIM, today announces the following share dealings.

The Company has been informed that, as part of the Tender Offer that closed on Wednesday, 17 July 2013 and settled on Thursday, 25 July 2013:

Mr. Christopher Gradel a director of the Company, tendered a total of 8,176,686 ordinary shares, of which 490,601 ordinary shares were tendered as his Basic Entitlement (as defined in the Tender Offer Circular dated 10 June 2013) and 7,686,085 ordinary shares were tendered as Excess Shares (as defined in the Tender Offer Circular dated 10 June 2013), of which 74,646 Excess Shares were accepted, such that a total of 565,247 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PAX Share Trading Limited, at the tender price of US$1.53 per share.

Mr. Anthony Miller, a director of the Company, tendered a total of 1,248,673 ordinary shares, of which 74,920 ordinary shares were tendered as his Basic Entitlement and 1,173,753 ordinary shares were tendered as Excess Shares, of which 11,399 Excess Shares were accepted, such that a total of 86,319 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PAX Share Trading Limited, at the tender price of US$1.53 per share.

As a result of these transactions, Mr. Gradel is directly interested in 7,611,439 of the Company's ordinary shares representing 7.12 per cent. of the Company's total voting rights and Mr. Miller is directly interested in 1,162,354 of the Company's ordinary shares representing 1.09 per cent. of the Company's total voting rights, and each indirectly interested in 10,541,347 of the Company's Ordinary Shares, representing 9.86 per cent. of the Company's voting rights held by PAIM and its affiliates

Metage Capital Limited, an investment management firm in which a director of the Company, Mr. Richard Webb, is a director and controlling shareholder, tendered a total of 463,763 ordinary shares, of which 27,825 ordinary shares were tendered as its Basic Entitlement and 435,938 ordinary shares were tendered as Excess Shares, of which 4,234 Excess Shares were accepted, such that a total of 32,059 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PAX Share Trading Limited, at the tender price of US$1.53 per share. As a result of these transactions, Mr. Webb has an indirect interest in 431,704 of the Company's Ordinary Shares, representing 0.40 per cent. of the Company's total voting rights.

Ironsides Partners Opportunity Master Fund L.P., the investment manager of which is Ironsides Partners LLC, of which a director of the Company, Mr. Robert Knapp is a director and controlling shareholder, tendered a total of 3,254,307 ordinary shares, of which 195,258 ordinary shares were tendered as its Basic Entitlement and 3,059,049 ordinary shares were tendered as Excess Shares, of which 29,709 Excess Shares were accepted, such that a total of 224,967 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PAX Share Trading Limited, at the tender price of US$1.53 per share.

As a result of these transactions, Mr. Knapp is indirectly interested in 3,029,340 of the Company's Ordinary Shares representing 2.83 per cent. of the Company's total voting rights.

In addition, the Company has been informed that:

Mr. Christopher Gradel purchased 51,624 of the Company's ordinary shares of US$0.01 each ("Ordinary Share") on 26 July 2013 at US$1.325 per Ordinary Share.

As a result of this transaction, Mr. Gradel is directly interested in 7,663,063 of the Company's ordinary shares representing 7.17 per cent. of the Company's total voting rights and is indirectly interested in 10,541,347 of the Company's Ordinary Shares representing 9.86 per cent. of the Company's total voting rights.

For more information, please contact:

 
 MANAGER:                           LEGAL COUNSEL: 
  Chris Gradel, Managing             Jon Lewis, General Counsel 
  Partner                            PAG 
  Pacific Alliance Investment        15/F, AIA Central 
  Management                         1 Connaught Road 
  15/F, AIA Central                  Central, Hong Kong 
  1 Connaught Road                   T: (852) 2918 0088 
  Central, Hong Kong                 F: (852) 2918 0881 
  T: (852) 2918 0088                 jlewis@pagasia.com 
  F: (852) 2918 0881 
  cgradel@pagasia.com 
---------------------------------  ---------------------------- 
 BROKER:                            NOMINATED ADVISER: 
  Hiroshi Funaki                     Philip Secrett 
  Edmond de Rothschild Securities    Grant Thornton UK LLP 
  T: (44) 20 7845 5960               T: (44) 20 7383 5100 
  F: (44) 20 7845 5961               Philip.J.Secrett@uk.gt.com 
  funds@lcfr.co.uk 
---------------------------------  ---------------------------- 
 MEDIA RELATIONS: 
  Stephanie Barry 
  PAG 
  T: (852) 3719 3375 
  sbarry@pagasia.com 
---------------------------------  ----------------------------

About Pacific Alliance Asia Opportunity Fund Limited

The Pacific Alliance Asia Opportunity Fund Ltd (AIM: PAX) is a closed-end investment company with net assets of US$163.31 million as at 30 June 2013. PAX was admitted to trading on the AIM Market of the London Stock Exchange in September 2006. PAX is focused on investing in distressed credit, private equity secondaries, activist investments and other opportunities offering the possibility of unlocking the underlying value of a company or asset across the Asian markets.

For more information about Pacific Alliance Asia Opportunity Fund Limited, please visit: www.pax-fund.com

Pacific Alliance Asia Opportunity Fund Limited is a member of PAG (formerly known as Pacific Alliance Group), the Asian alternative investment fund management group. Founded in 2002, PAG is now one of the region's largest Asia-focused alternative investment managers, with funds under management across Asia-focused alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies.

PAG has a presence across Asia with over 320 staff working in the region.

For more information about PAG, please visit: www.pagasia.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

RDSRRMBTMBITBAJ

Pacific Allian. (LSE:PAX)
Historical Stock Chart
From Jun 2024 to Jul 2024