CATCo Reinsurance Opps Fund Ltd Conversion of Securities (7234J)
10 August 2012 - 4:00PM
UK Regulatory
TIDMCAT
RNS Number : 7234J
CATCo Reinsurance Opps Fund Ltd
10 August 2012
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
C Share Conversion Ratio and Admission of New Ordinary
Shares
To: SFM, London Stock Exchange Date: 10 August 2012
and the Bermuda Stock Exchange
Further to its announcement of 8 August 2012, the Board of the
Company is pleased to announce the following information in
relation to the conversion of its C Shares.
Conversion Ratio for C Shares
The Net Asset Values as at the Calculation Time (being 8 August
2012) for an Ordinary Share and a C Share were $0.98 and $1.1329
respectively. Accordingly, the Conversion Ratio for conversion of
the C Shares, as calculated in accordance with the Company's
prospectus dated 18 May 2011 (the "Prospectus"), is 1.15602825
Ordinary Shares for every one C Share held.
On the basis of the Conversion Ratio, a holder of 1,000 C Shares
will receive 1,156 new Ordinary Shares upon Conversion.
Entitlements will be rounded down to the nearest whole
share.
Ordinary Shares arising on Conversion will rank pari passu with,
and will have the same rights as, the Ordinary Shares of the
Company already in issue.
Further details of the Conversion and rights attaching to the C
Shares are set out in the Prospectus.
Admission to trading on the Specialist Fund Market of the London
Stock Exchange
On the basis of the Conversion Ratio, application has been made
to the London Stock Exchange for 282,207,337 Ordinary Shares to be
admitted to trading on the Specialist Fund Market. It is
anticipated that such admission will become effective, and that
dealings in the Ordinary Shares will commence, on 13 August 2012.
As a result of this share issue, the Company has in issue
369,849,337 Ordinary Shares.
Cancellation of C Shares
The C Shares will be permanently removed from trading on the
London Stock Exchange with effect from the opening of trading at
8.00 a.m. on 13 August 2012.
Expected timetable
Record date for Conversion Close of business on 10 August
and C Share register closes 2012
Dealings in new Ordinary 13 August 2012
Shares commence
Crediting of CREST accounts 13 August 2012
with new Ordinary Shares
Share certificates in respect Week commencing 13 August
of new Ordinary Shares despatched 2012
Defined words and terms used in this announcement shall have the
same meaning as ascribed to them in the Prospectus.
-Ends-
For further information, please contact:
Jason Bibb, Director/Michael Toyer, Head of Investment
Operations
CATCo Investment Management Ltd
Telephone: +1 441 531 2227
Email: jason.bibb@catcoim.com
Email: Michael.toyer@catcoim.com
David Benda / Hugh Jonathan
Numis Securities Limited
Telephone: +44 (0)20 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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