15 August 2024
Macau
Property Opportunities Fund Limited
("MPO" or the "Company")
Quarterly
Net Asset Value Update
Macau Property Opportunities Fund
Limited, managed by property investment manager Sniper Capital
Limited, announces that the unaudited Adjusted Net Asset Value of
the Company was US$ 66.1 million as at 30 June 2024.
This is equivalent to US$1.07 (85
pence*) per share and represents a decline of 12.2% (12.3% in
Sterling terms) from the previous quarter.
As prefaced in the latest
investor update, local developers have recently embarked on a
series of heavily discounted sales of inventory properties, in
order to raise cashflow, which has impacted market values in the
near term. The Manager continues to achieve carefully targeted
sales against this challenging backdrop. Following the successful
reduction of debt levels, the Company continues to comply with all
banking covenants and Loan to Value ratios.
* Based on
the US Dollar/Sterling exchange rate of 1.265 on 30 June 2024. The
US Dollar/Sterling exchange rate was 1.263 as at 31 March
2024.
Note:
1. The above
figures are estimates only and are unaudited and derived from
independently assessed valuations. The Company's
audited Adjusted Net Asset Value as at 30 June 2024, which may be
materially different from the above estimates, will be announced in
conjunction with the release of the Company's audited annual
results for the year ended 30 June 2024. No reliance should
be placed upon the unaudited Adjusted Net Asset Value per share,
which should only be taken as an indicative value.
2. Detailed
information on the Company's portfolio and Macau market can be
found on the Company's website at www.mpofund.com.
3. The content of
this announcement contains inside information.
About Macau Property Opportunities
Fund
Premium listed on the London Stock
Exchange, 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 leading gaming market
and the only city in China where gaming is legalised.
Launched in 2006, the Company
targets strategic property investment and development opportunities
in Macau. Its current portfolio comprises prime residential
property assets.
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.
Stock Code
London Stock Exchange:
MPO
LEI
213800NOAO11OWIMLR72
For further information:
Manager
Sniper Capital Limited
Group Communications
Tel: +853 2870 5151
Email: info@snipercapital.com
Corporate Broker
Liberum Capital
Darren Vickers / Owen
Matthews
Tel: +44 20 3100 2222
Company Secretary &
Administrator
Ocorian Administration (Guernsey)
Limited
Kevin Smith
Tel: +44 14 8174 2742
