Issue of Equity

RNS Number : 2728G

CATCo Reinsurance Opps Fund Ltd

25 May 2017

 

FOR IMMEDIATE RELEASE

25 May 2017

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

Issue of Equity

The Company today announces that 35,606,039 Ordinary Shares of US$ 0.0001 each have been issued for cash at US$1.2889 per share, raising gross proceeds of $45.9 million, in order to satisfy demand that cannot be met through the secondary market.

Application has been made for these shares to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market. Trading is expected to commence on 31 May 2017. Upon Admission, the shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. As a result of this share issue, the Company has in issue 391,666,424 Ordinary Shares.

James Keyes, Chairman of the Company, commented: "The Board of CATCo Reinsurance Opportunities Fund Ltd. is delighted to have had such a positive response to this capital raising, which has been significantly over-subscribed. This increases total net assets of the Company through $500 million."

Ends

For further information:

Judith Wynne
General Counsel
Markel CATCo Investment Management Ltd.

Telephone: [phone]

Email: [e-mail]

Mark Way
Chief Operating Officer
Markel CATCo Investment Management Ltd. 

Telephone: [phone]

Email: [e-mail]

Numis Securities Limited

Hugh Jonathan / Chris Gook

Telephone: [phone]

 

END

 

 

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