CATCo Reinsurance Opps Fund Ltd Transaction in Own Shares - Compulsory Redemption (3545N)
19 May 2020 - 8:13PM
UK Regulatory
TIDMCAT
RNS Number : 3545N
CATCo Reinsurance Opps Fund Ltd
19 May 2020
CATCo Reinsurance Opportunities Fund Limited (the "Company")
19 May 2020
Partial Compulsory Redemption of Shares
Following the redemption of 17,324,761 Ordinary Shares at a rate
of $0.2669 per Ordinary Share and 27,513,980 C Shares at a rate of
$0.5161 per C Share on 18 May 2020 (as previously announced on 13
March 2020 and updated on 11 May 2020), the Company now has
268,592,075 Ordinary Shares in issue and 363,364,880 C Shares in
issue. With effect from today, the Company's Ordinary Shares will
trade under the new ISIN number BMG1961Q1832 and the C Shares will
trade under the new ISIN number BMG1961Q1915.
The applicable redemption ratios were 0.060593983 in relation to
the Ordinary Shares and 0.070390215 in relation to the C Shares. On
this basis, a holder of 100,000 Ordinary Shares will have had 6,059
Ordinary Shares redeemed, and receive $1,617.14 in cash. A holder
of 100,000 C Shares will have had 7,039 C Shares redeemed, and
receive $3,634.93 in cash. Approximately 6.63% 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 268,592,075 Ordinary
Shares and 363,364,880 C Shares. Accordingly, the total number of
voting rights in the Company is 631,956,955.
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 and C Shares in
uncertificated form on 22 May 2020, and paid by cheque to holders
of Ordinary Shares in certificated form, on 29 May 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
This information is provided by RNS, the news service of the
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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