Pacific Alliance Asia Opp Fd Ld Share Purchase (5731T)

TIDMPAX

RNS Number : 5731T

Pacific Alliance Asia Opp Fd Ld

06 October 2014

6 Oct 2014

Pacific Alliance Asia Opportunity Fund Limited

USD15m Share Purchase

Pacific Alliance Asia Opportunity Fund Limited ("PAX" or the "Company") (AIM: PAX), the closed-end investment company admitted to trading on AIM and listed feeder for Pacific Alliance Asia Opportunity Fund L.P. (the "Master Fund"), announces that further to the announcement of 22 September 2014, the Master Fund will shortly commence a program to purchase Company shares over the course of the next six months.

The Master Fund has appointed Edmond de Rothschild Securities (UK) Limited ("Rothschild") to manage this program through two USD15m share purchases. The first USD15m will be used to purchase shares at an 8% discount to the Company's 30 September 2014 unaudited NAV per share (the "Purchase Price").

Timetable

PAX expects to announce its 30 September unaudited NAV per share during the week commencing 13 October. The Purchase Price will be announced on Monday 20 October. Shares will be purchased on Friday 24 October.

Shareholders wishing to participate in the Share Purchase should contact Rothschild (details below) by 4pm UK time on Thursday 23 October to place an order.

To the extent that sell orders exceed the Master Fund's Share Purchase budget, orders will be scaled back pro-rata. If any funds allocated remain available at the end of the first share purchase, they will supplement the funds allocated for the next period.

For further information please contact:

 
BROKER:                                           NOMINATED ADVISER: 
 Andrew Davies / Hiroshi Funaki                    Philip Secrett 
 Edmond de Rothschild Securities                   Grant Thornton UK LLP 
 T: (44) 20 7845 5960                              T: (44) 20 7383 5100 
 funds@lcfr.co.uk                                  Philip.J.Secrett@uk.gt.com 
 
  INVESTMENT MANAGER:                               MEDIA RELATIONS: 
  Pacific Alliance Investment Management Limited    Stephanie Barry 
  T: (852) 2918 0088                                PAG 
  pax@pagasia.com                                   T: (852) 3719 3375 
                                                    sbarry@pagasia.com

About Pacific Alliance Asia Opportunity Fund Limited

Pacific Alliance Asia Opportunity Fund Limited (AIM: PAX) serves as a feeder fund for Pacific Alliance Asia Opportunity Fund L.P. (the "Master Fund"), a Cayman Islands exempted limited partnership. PAX was admitted to trading on the AIM Market of the London Stock Exchange in September 2006.

The principal investment objective of both PAX and the Master Fund is to provide their respective investors with capital appreciation through value, arbitrage and special situations investments in Asian markets. Target investments include distressed credit, private equity secondaries, activist investments and other opportunities offering the possibility of unlocking the underlying value of a company or asset.

For more information about PAX, please visit: www.pax-fund.com

Pacific Alliance Asia Opportunity Fund Limited is managed by PAG (formerly known as Pacific Alliance Group), which is one of the region's largest Asia-focussed alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies. Founded in 2002, PAG now has a presence across Asia with over 330 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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