Macau Property Opportunities Fund Update on Proposed Return of Capital (2566N)
08 May 2018 - 4:01PM
UK Regulatory
TIDMMPO
RNS Number : 2566N
Macau Property Opportunities Fund
08 May 2018
8 May 2018
Macau Property Opportunities Fund Limited
("MPO" or the "Company")
Update on Proposed Return of Capital
Further to the recently announced sale of Senado Square and the
receipt of the proceeds of that sale, the Company announces that it
is currently working on proposals to enable it to return capital to
shareholders expected to be no less than 50 per cent. of the net
profits from the sale. The proposals will be designed to facilitate
the Company's commitment to realising asset values and making
further returns of capital to shareholders following future
realisations. All potential divestment options for the Company's
remaining assets are continuing to be assessed with the goal of
maximising exit values.
The Company, therefore, expects to publish a circular to
shareholders in June setting out detailed proposals, with notice to
convene an extraordinary meeting of the Company, and will make a
further announcement accordingly.
-End-
About Macau Property Opportunities Fund
Macau Property Opportunities Fund Limited is a closed-end
investment company registered in Guernsey and is the only quoted
property fund dedicated to investing in Macau, the world's largest
gaming market and the only city in China where gaming is
legalised.
Listed on the London Stock Exchange's main market, it is also a
constituent stock of the FTSE All-Share and FTSE SmallCap
indices.
Launched in 2006, the Company targets strategic property
investment and development opportunities in Macau. Its current
portfolio comprises a mix of prime residential and retail property
assets that are valued at US$436.2 million as at 30 September
2017.
The Company is managed by Sniper Capital Limited, an Asia-based
property investment manager with an established track record in
fund management and investment advisory.
For further information:
Company Registration Number 44813
Website: www.mpofund.com
Manager
Sniper Capital Limited
Doris Boo
Tel: +65 6222 1440
Email: doris.boo@snipercapital.com
Corporate Broker
Liberum Capital
Gillian Martin / Louis Davies
Tel: +44 20 3100 2000
Company Secretary & Administrator
Estera International Fund Managers (Guernsey) Limited
Kevin Smith
Tel: +44 14 8174 2742
Stock Code:
London Stock Exchange: MPO
LEI
213800NOAO11OWIMLR72
This information is provided by RNS
The company news service from the London Stock Exchange
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