CATCo Reinsurance Opps Fund Ltd Partial Compulsory Redemption of Shares (5603H)
07 April 2022 - 4:10PM
UK Regulatory
TIDMCAT
RNS Number : 5603H
CATCo Reinsurance Opps Fund Ltd
07 April 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION UNDER THE RETAINED
UK LAW VERSION OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014
PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019
(SI 2019/310).
CATCo Reinsurance Opportunities Fund Limited (provisional
liquidators appointed for restructuring purposes) (the Public
Fund)
Public Fund Scheme Distribution
Partial Compulsory Redemption of Shares
London, 7 April 2022 - Following the redemption of 147,812,056
Ordinary Shares at a rate of USD 0.349957 per Ordinary Share
(approximately USD 0.3465 per Ordinary Share held on the basis of
100% of each Shareholder's then outstanding Shares) and 82,398,091
C Shares at a rate of USD 0.653616 per C Share (approximately USD
0.6471 per C Share held on the basis of 100% of each Shareholder's
then outstanding Shares) on 6 April 2022 (as previously announced
on 29 March 2022), the Public Fund now has 1,493,131 Ordinary
Shares in issue and 832,376 C Shares in issue. With effect from
today, the Public Fund's Ordinary Shares will trade under the new
ISIN number BMG1961Q4075 and the C Shares will trade under the new
ISIN number BMG1961Q5064.
The applicable redemption ratios were 0.99 in relation to the
Ordinary Shares and 0.99 in relation to the C Shares. On this
basis, a holder of 100 Ordinary Shares will have had 99 Ordinary
Shares redeemed, and receive USD 34.65 in cash. A holder of 100 C
Shares will have had 99 C Shares redeemed, and receive USD 64.71 in
cash. 99% of the issued share capital was redeemed.
In conformity with the FCA's Disclosure Guidance and
Transparency Rules (DTR 5.6.1), the Public Fund notifies that the
Public Fund's issued share capital now consists of 1,493,131
Ordinary Shares and 832,376 C Shares. Accordingly, the total number
of voting rights in the Company is 2,325,507.
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 Public Fund Scheme
Distribution (by way of redemption) will be paid through CREST to
holders of Ordinary Shares and C Shares in uncertificated form on
11 April 2022, and paid by cheque to holders of Ordinary Shares in
certificated form on 11 April 2022.
Capitalised terms used but not defined in this announcement have
the meaning given to them in the Explanatory Statement. The
Explanatory Statement and other details of the Schemes are
available on the Scheme Website at
https://catcobuyout.alixpartners.com .
The person responsible for arranging release of this
announcement is: Mark Way, Chief of Investor Marketing, Markel
CATCo Investment Management Ltd .
For Further Information:
Markel CATCo Investment Management Ltd
Mark Way
Chief of Investor Marketing
Telephone: +1 441 493 9001
Email: mark.way@markelcatco.com
Numis Securities Limited
Hugh Jonathan
Telephone +44 (0) 20 7260 1000
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END
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