Pacific Alliance Asia Opp Fd Ld Share Dealing (4687R)

TIDMPAX

RNS Number : 4687R

Pacific Alliance Asia Opp Fd Ld

11 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 following dealings in the Company.

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:

Pacific Alliance Investment Management Limited ("PAIM"), the Company's investment manager and its affiliates tendered a total of 9,193,608 ordinary shares, of which 551,616 ordinary shares were tendered as its Basic Entitlement and 8,641,992 ordinary shares were tendered as Excess Shares, of which 13,429 Excess Shares were accepted, such that a total of 565,045 shares were accepted for repurchase by PAX Share Trading Limited, at the tender price of US$1.66 per share.

As a result of these transactions, PAIM and its affiliates are directly interested in, and Mr. Chris Gradel and Mr. Anthony Miller, directors of the Company, are indirectly interested in, 8,628,563 of the Company's ordinary shares representing 9.14 per cent. of the Company's total voting rights.

Pacific Alliance Asia Opportunity Fund L.P. (the "Master Fund") in which the Company invests substantially all its assets, tendered a total of 27,397,526 ordinary shares, of which 1,643,851 ordinary shares were tendered as its Basic Entitlement and 25,753,675 ordinary shares were tendered as Excess Shares, of which 42,119 Excess Shares were accepted, such that a total of 1,685,970 ordinary shares were accepted for repurchase by PAX Share Trading Limited, at the tender price of US$1.66 per share.

As a result of these transactions, the Master Fund is directly interested in, and Messrs. Gradel and Miller, directors of the Company, are indirectly interested in, 25,711,556 of the Company's ordinary shares representing 27.23 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 300 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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