Africa Opportunity Fund Limited Completion of Mandatory Redemption (6069R)
07 July 2022 - 04:00PM
UK Regulatory (RNS & others)
TIDMAOF
RNS Number : 6069R
Africa Opportunity Fund Limited
07 July 2022
7 July 2022
Africa Opportunity Fund Limited
Completion of Mandatory Redemption
PDMR Dealings
The Board of Directors of Africa Opportunity Fund Limited ("AOF"
or the "Company") is pleased to announce that the partial mandatory
redemption of the Company's Ordinary Shares announced on 28 June
2022 has been completed with the redemption of 4,573,168 Ordinary
Shares ("Mandatory Redemption").
On 6 July 2022, AOF redeemed 4,573,168 Ordinary Shares, on a pro
rata basis, at the prevailing NAV per Ordinary Share of $ 0.984 as
at 31 May 2022. Such shares were cancelled automatically following
their redemption.
Fractions of shares produced by the applicable redemption ratios
have not been redeemed and so the number of shares redeemed in
respect of each shareholder has been rounded down to the nearest
whole number of shares.
Payments of redemption proceeds are expected to be effected
either through Euroclear or Clearstream (in the case of shares held
in uncertificated form) or by cheque (in the case of shares held in
certificated form) on or around 13 July 2022 . Any share
certificates for the balance of holdings of shares will also be
despatched to shareholders on or around 13 July 2022.
Following the Mandatory Redemption, the Company has 20,214,590
Ordinary Shares in issue.
The Ordinary Shares were disabled on the record date ( 6 July
2022 ) and the ISIN number KYG012921469 (the "Old ISIN") has
expired. The new ISIN number KYG012922038 (the "New ISIN") in
respect of the remaining 20,214,590 Ordinary Shares which have not
been redeemed will be enabled and will be available for
transactions on 7 July 2022 .
DIRECTOR'S INTERESTS
As of 6 July 2022 , Robert Knapp and Myma Belo-Osagie, Directors
of the Company, owned 4,001,616 and 33,117 Ordinary Shares,
respectively. As a result of the Mandatory Redemption described
above, Robert Knapp and Myma Belo-Osagie now hold 3,263,346 and
27,008 Ordinary Shares, respectively.
The FCA notifications, made in accordance with the requirements
of the EU Market Abuse Regulation as amended by The Market Abuse
(Amendment) (EU Exit) Regulations 2019, are appended below.
* * *
For more information please contact:
Africa Opportunity Fund Limited
Francis Daniels Tel: +2711 684 1528
Liberum (Corporate Broker) Tel: +44 20 3100 2000
Darren Vickers
Owen Matthews
For more information about AOF, see
www.africaopportunityfund.com
LEI: 213800R1UVN1T8YXS179
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Robert Knapp
--------------------- --------------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------
a) Position/status Non-executive Director
--------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- --------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Africa Opportunity Fund Limited
--------------------- --------------------------------------------------
b) LEI 213800R1UVN1T8YXS179
--------------------- --------------------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description Ordinary shares of $0.01 each ("Ordinary Shares")
of the financial
instrument,
type of instrument ISIN number KYG012922038
Identification
code
--------------------- --------------------------------------------------
b) Nature of Mandatory Redemption of Ordinary Shares
the transaction
--------------------- --------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) $0.984 738,270
----------
--------------------- --------------------------------------------------
d) Aggregated N/A - Single Transaction
information
- Aggregated
volume
- Price
--------------------- --------------------------------------------------
e) Date of the 07/07/2022
transaction
--------------------- --------------------------------------------------
f) Place of London Stock Exchange
the transaction
--------------------- --------------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Myma Belo-Osagie
--------------------- --------------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------
a) Position/status Non-executive Director
--------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- --------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Africa Opportunity Fund Limited
--------------------- --------------------------------------------------
b) LEI 213800R1UVN1T8YXS179
--------------------- --------------------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description Ordinary shares of $0.01 each ("Ordinary Shares")
of the financial
instrument,
type of instrument ISIN number KYG012922038
Identification
code
--------------------- --------------------------------------------------
b) Nature of Mandatory Redemption of Ordinary Shares
the transaction
--------------------- --------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) $0.984 6,109
----------
--------------------- --------------------------------------------------
d) Aggregated N/A - Single Transaction
information
- Aggregated
volume
- Price
--------------------- --------------------------------------------------
e) Date of the 07/07/2022
transaction
--------------------- --------------------------------------------------
f) Place of London Stock Exchange
the transaction
--------------------- --------------------------------------------------
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END
MSCFFFVVDTIRIIF
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