Transaction in Own Shares - Compulsory Redemption

RNS Number : 8581R

CATCo Reinsurance Opps Fund Ltd

02 July 2020

 

CATCo Reinsurance Opportunities Fund Limited (the "Company")

2 July 2020

Partial Compulsory Redemption of Shares

Following the redemption of 13,493,183 Ordinary Shares at a rate of $0.2668 per Ordinary Share and 23,657,087 C Shares at a rate of $0.5157 per C Share on 1 July 2020 (as previously announced on 13 March 2020 and updated on 24 June 2020), the Company now has 255,098,892 Ordinary Shares in issue and 339,707,793 C Shares in issue. With effect from today, the Company's Ordinary Shares will trade under the new ISIN number BMG1961Q2178 and the C Shares will trade under the new ISIN number BMG1961Q2251.

The applicable redemption ratios were   0.050236973 in relation to the Ordinary Shares and 0.06510581 in relation to the C Shares. On this basis, a holder of 100,000 Ordinary Shares will have had 5,023 Ordinary Shares redeemed, and receive $1,340.13 in cash. A holder of 100,000 C Shares will have had 6,510 C Shares redeemed, and receive $3,357.20 in cash. Approximately 5.88% of the issued share capital was redeemed.

In conformity with the FCA's Disclosure Guidance and Transparency Rules (DTR 5.6.1), the Company notifies that the Company's issued share capital now consists of 255,098,892 Ordinary Shares and 339,707,793 C Shares.  Accordingly, the total number of voting rights in the Company is 594,806,685.

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 redemption will be paid through CREST to holders of Ordinary Shares and C Shares in uncertificated form on 7 July 2020, and paid by cheque to holders of Ordinary Shares in certificated form, on 13 July 2020.

Capitalised terms used but not defined in this announcement shall bear the meanings ascribed to them in the Circular to Shareholders dated 13 March 2020.

 Enquiries:

For further information:
Markel CATCo Investment Management Ltd. Judith Wynne General Counsel Telephone: [phone] Email: [e-mail] Mark Way Chief of Investor Marketing Telephone: [phone] Email: [e-mail]	Numis Securities Limited David Benda / Hugh Jonathan Telephone: [phone]

 

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