TIDMCAT

RNS Number : 4935V

CATCo Reinsurance Opps Fund Ltd

15 April 2021

FOR IMMEDIATE RELEASE

15 April 2021

CATCo Reinsurance Opportunities Fund Ltd. (the "Company")

Side Pocket Release Update

To: SFS, London Stock Exchange and Bermuda Stock Exchange

The Company is pleased to announce that it has been advised of a further release of Side Pocket Investment ("SPI") capital amounting to approximately $19.2 million. This is expected to be paid to the Company during May 2021, following which the Company intends to use it to carry out a seventh compulsory redemption of its shares.

The updated breakdown of the payments to the Ordinary Shareholders and C Shareholders is approximately $3.4 million and approximately $15.8 million respectively.

Subsequent to Shareholder approval being given on 26 March 2019 to put the Company's portfolios into run-off, and including this seventh compulsory redemption, the Company will have returned a total of approximately $287.1 million to Shareholders by way of compulsory redemptions, dividend, a tender offer and share buybacks, of which approximately $63.0 million will have been paid to the Ordinary Shareholders and approximately $227.5 million to the C Shareholders

The Company will issue further details of the expected timetable for this seventh compulsory redemption shortly.

This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.

 
For further information: 
Markel CATCo Investment Management Ltd.  Numis Securities Limited 
                                          David Benda / Hugh Jonathan 
 Judith Wynne                             Telephone: +44 (0) 20 7260 
 General Counsel                          1000 
 Telephone: +1 441 493 9005 
 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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