NOT FOR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART OR INTO CANADA, AUSTRALIA, JAPAN, THE REPUBLIC
OF IRELAND OR SOUTH
AFRICA
Weiss Korea Opportunity Fund
Ltd.
("the Company")
Realisation
Opportunity and Publication of Circular
When the Company was launched in 2013 it committed to offer
Shareholders the opportunity to elect to realise all or a part of
their shareholding on or prior to the fourth anniversary of the
Company's admission to AIM and, unless it has already been
determined that the Company will be wound-up, every two years
thereafter. The Admission Document, published on 8 May 2013, stated that the Realisation
Opportunity would be made available to Shareholders not less than
56 days before the fourth anniversary of the Company's admission to
AIM.
The Company is pleased to announce that a circular (the
“Circular”) containing the details of the Realisation
Opportunity along with the relevant forms of election were posted
to shareholders of the Company today. A copy of the Circular is
available on the Company’s website:
www.weisskoreaopportunityfund.com. In addition, the Company is
pleased to announce that it intends to declare an interim dividend
to all Shareholders as part of this process.
All of the Directors and personnel associated with the
Investment Manager (who collectively own 10.05 per cent. of the
Company’s issued share capital as at 17
March 2017 being the latest practicable date prior to the
publication of the Circular) intend to continue their investment in
the Company and do not intend to participate in the Realisation
Opportunity in respect of all or any part of their respective
shareholdings.
The expected timetable for the Realisation Opportunity is as
follows (all dates are in 2017):
Publication of the Circular |
20 March |
Record date for Realisation
Opportunity |
6.00 p.m. on 23
March |
Election Period commences |
13 April |
The Company’s interim dividend
declaration date |
4 May |
Latest time and date for receipt of
Forms of Election and share certificates from Shareholders who hold
their Ordinary Shares in certificated form |
1.00 p.m. on 8
May |
Latest time and date for receipt of
TTE Instructions from Shareholders who hold their Ordinary Shares
in uncertificated form |
1.00 p.m. on 8
May |
Record date for interim
dividend |
12 May |
Redesignation of participating
Ordinary Shares as Realisation Shares |
15 May |
Announcement of results of
Realisation Opportunity |
15 May |
Definitive share certificates
representing Realisation Shares despatched by post |
w/c 22 May |
Any changes to the expected timetable
set out above will be notified by the Company through a Regulatory
Information Services provider. All references to times in this
document are to London times.
The Company confirms that it currently has no inside
information.
Definitions
“Admission Document” |
the admission document of the
Company for admission to AIM published on 8 May 2013; |
“AIM” |
the Alternative Investment Market of
the London Stock Exchange plc; |
“Director” or
“Directors” |
a director of the Company; |
“Election Period” |
the period beginning on 13 April
2017 and ending at 1.00 p.m. on 8 May 2017; |
“Form of Election” |
the form of election entitling
holders of Ordinary Shares in certificated form to redesignate
their Ordinary Shares into Realisation Shares; |
“Investment Manager” |
Weiss Asset Management LP; |
“Ordinary Shares” |
redeemable ordinary shares of no par
value in the capital of the Company and, after the Realisation
Date, such ordinary shares as are not redesignated as Realisation
Shares; |
“Realisation Date” |
15 May 2017; |
“Realisation
Opportunity” |
the opportunity being given to
shareholders to elect to realise all or a part of their
shareholding in the Company on or prior to the Realisation Date,
the details of which are set out in this document; |
“Realisation Shares” |
ordinary redeemable realisation
shares of no par value each in the capital of the Company; and |
“Shareholders” |
holders of Ordinary Shares. |
For further information, please contact:
N+1 Singer
James Maxwell/Gillian Martin – Nominated Adviser
James Waterlow – Sales |
+44 20 7496 3000 |
Northern Trust
International Fund
Administration Services (Guernsey) Limited
Sam Walden |
+44 1481 745 323 |
Website
www.weisskoreaopportunityfund.com
END