Pacific Alliance Asia Opp Fd Ld Director Dealing (3636R)

TIDMPAX

RNS Number : 3636R

Pacific Alliance Asia Opp Fd Ld

10 September 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 result of its Tender Offer.

The Company has been informed that, as part of the Tender Offer that closed on Thursday, 28 August 2014 and settled on Friday, 5 September 2014:

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 2,839,046 ordinary shares, of which 170,342 ordinary shares were tendered as its Basic Entitlement and 2,668,704 ordinary shares were tendered as Excess Shares, of which 5,041 Excess Shares were accepted, such that a total of 175,383 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PAX Share Trading Limited, at the tender price of US$1.66 per share.

As a result of these transactions, Mr. Knapp is indirectly interested in 2,663,663 of the Company's Ordinary Shares representing 2.82 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$167.03 million as at 31 July 2014. 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 340 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

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