CATCo Reinsurance Opps Fund Ltd Transaction in Own Shares - Compulsory Redemption (8811X)
03 September 2020 - 4:00PM
UK Regulatory
TIDMCAT
RNS Number : 8811X
CATCo Reinsurance Opps Fund Ltd
03 September 2020
CATCo Reinsurance Opportunities Fund Limited (the "Company")
3 September 2020
Partial Compulsory Redemption of Shares
Following the redemption of 26,335,517 Ordinary Shares at a rate
of $0.2658 per Ordinary Share and 60,151,762 C Shares at a rate of
$0.5137 per C Share on 2 September 2020 (as previously announced on
13 March 2020 and updated on 25 August 2020), the Company now has
228,763,375 Ordinary Shares in issue and 279,556,031 C Shares in
issue. With effect from today, the Company's Ordinary Shares will
trade under the new ISIN number BMG1961Q2335
and the C Shares will trade under the new ISIN number BMG BMG1961Q2418.
The applicable redemption ratios were 0.103236787 in relation to
the Ordinary Shares and 0.177069352 in relation to the C Shares. On
this basis, a holder of 100,000 Ordinary Shares will have had
10,323 Ordinary Shares redeemed, and receive $2,743.85 in cash. A
holder of 100,000 C Shares will have had 17,706 C Shares redeemed,
and receive $9,095.57 in cash. Approximately 14.54% 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 228,763,375 Ordinary
Shares and 279,556,031 C Shares. Accordingly, the total number of
voting rights in the Company is 508,319,406.
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 8 September 2020, and paid by cheque to
holders of Ordinary Shares in certificated form, on 14 September
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
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
POSEAENAELNEEAA
(END) Dow Jones Newswires
September 03, 2020 02:00 ET (06:00 GMT)
Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From Oct 2023 to Oct 2024