CATCo Reinsurance Opps Fund Ltd Transaction in Own Shares - Compulsory Redemption (3824K)
21 April 2020 - 11:27PM
UK Regulatory
TIDMCAT
RNS Number : 3824K
CATCo Reinsurance Opps Fund Ltd
21 April 2020
CATCo Reinsurance Opportunities Fund Limited (the "Company")
21 April 2020
Partial Compulsory Redemption of Shares
Following the redemption of 19,895,024 Ordinary Shares at a rate
of $0.2669 per Ordinary Share and 46,533,616 C Shares at a rate
$0.5164 per C Share on 20 April 2020 (as previously announced on 13
March 2020 and updated on 9 April 2020), the Company now has
285,916,836 Ordinary Shares in issue and 390,878,860 C shares in
issue. With effect from today the Company's Ordinary Shares will
trade under the new ISIN number BMG1961Q1758 and the C Shares will
trade under the new ISIN number BMG1961Q1675.
On this basis, a holder of 10,000 Ordinary Shares will have 650
Ordinary Shares redeemed, and receive $173.48 in cash. A holder of
10,000 C Shares will have 1,063 C Shares redeemed, and receive
$548.93 in cash. Approximately 8.94% of the issued share capital
was redeemed.
In conformity with the FCA's Disclosure Guidance and
Transparency Rules (DTR 5.6.1), the Company notifies that the
Company's issued share capital now consists of 285,916,836 Ordinary
Shares and 390,878,860 C Shares. Accordingly, the total number of
voting rights in the Company is 676,795,696.
This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in the
Company under the FCA's Disclosure Guidance and Transparency Rules
(DTR 5.1.2).
It is expected that the proceeds of the redemption will be paid
through CREST to holders of Ordinary Shares in uncertificated form
on 24 April 2020, and paid by cheque to holders of Ordinary Shares
in certificated form, on 30 April 2020.
Capitalised terms used but not defined in this announcement
shall bear the meanings ascribed to them in the Circular to
Shareholders dated 13 March 2020.
Enquiries:
For further information:
Markel CATCo Investment Management Ltd. Numis Securities Limited
Judith Wynne David Benda / Hugh Jonathan
General Counsel Telephone: +44 (0) 20 7260
Telephone: +1 441 493 9005 1000
Email: judith.wynne@markelcatco.com
Mark Way
Chief of Investor Marketing
Telephone: +1 441 493 9001
Email: mark.way@markelcatco.com
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contact rns@lseg.com or visit www.rns.com.
END
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