TIDMPAX
RNS Number : 8203W
Pacific Alliance Asia Opp Fd Ld
02 January 2014
2 January 2014
Pacific Alliance Asia Opportunity Fund Limited
Director Dealing
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 director
dealings.
The Company has been informed that, as part of the Tender Offer
that closed on Wednesday, 11 December 2013 and settled on Thursday,
19 December 2013:
Mr. Anthony Miller, a director of the Company, tendered a total
of 1,162,354 ordinary shares, of which 69,740 ordinary shares were
tendered as his Basic Entitlement and 1,092,614 ordinary shares
were tendered as Excess Shares, of which 3,267 Excess Shares were
accepted, such that a total of 73,007 ordinary shares were accepted
for repurchase by the Company's wholly-owned subsidiary, PAX Share
Trading Limited, at the tender price of US$1.57 per share.
Pacific Alliance Investment Management Limited ("PAIM"), the
Company's investment manager and its affiliates tendered a total of
9,812,636 ordinary shares, of which 591,324 ordinary shares were
tendered as its Basic Entitlement and 9,221,312 ordinary shares
were tendered as Excess Shares, of which 27,704 Excess Shares were
accepted, such that a total of 619,028 ordinary shares were
accepted for repurchase by the Company's wholly-owned subsidiary,
PAX Share Trading Limited, at the tender price of US$1.57 per
share.
As a result of these transactions, Mr. Miller is directly
interested in 1,089,347 of the Company's ordinary shares
representing 1.08 per cent. of the Company's total voting rights,
and each indirectly interested in 9,193,608 of the Company's
Ordinary Shares, representing 9.15 per cent. of the Company's
voting rights held by PAIM and its affiliates.
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 3,029,340 ordinary shares, of
which 181,760 ordinary shares were tendered as its Basic
Entitlement and 2,847,580 ordinary shares were tendered as Excess
Shares, of which 8,534 Excess Shares were accepted, such that a
total of 190,294 ordinary shares were accepted for repurchase by
the Company's wholly-owned subsidiary, PAX Share Trading Limited,
at the tender price of US$1.57 per share.
As a result of these transactions, Mr. Knapp is indirectly
interested in 2,839,046 of the Company's Ordinary Shares
representing 2.83 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$158.13 million
as at 30 November 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
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