Quarterly Net Asset Value Update

Macau Property Opportunities Fund

15 August 2024

 

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: [phone]

Email: [e-mail]

Corporate Broker

Liberum Capital

Darren Vickers / Owen Matthews

Tel: [phone]

Company Secretary & Administrator

Ocorian Administration (Guernsey) Limited

Kevin Smith

Tel: [phone]

 

END