Result of EGM

RNS Number : 2196E

Macau Property Opportunities Fund

07 April 2014

 



7 April 2014

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

Results of Extraordinary General Meeting & Return of Capital

The Board of Directors of MPO confirms the results of the Extraordinary General Meeting of the Company held today, 7 April 2014, as follows:

Resolution 1 - Special Resolution - Return of Capital

The resolution to amend the Company's Articles of Incorporation for the purpose of increasing the share capital of the Company and the creation of 82,740,000 non-cumulative redeemable preference shares of US$0.01 each, as outlined in the circular to Shareholders dated 13 March 2014 (the "Circular"), has been passed.

In accordance with the terms of the Circular, Shareholders on the register as at 5.00 p.m. on 14 April 2014 will receive a bonus issue of a newly created class of shares, B Shares. Capital will then be returned to Shareholders through a redemption of the B Shares, the payment of a dividend in respect of the B Shares or a combination of both.

The final Sterling amount of the Return of Capital is £17,496,229.26, which has been calculated by reference to the Relevant Exchange Rate being the US dollar/Sterling Bloomberg Cross Rate of 1.6575 as at the close of business on 4 April 2014. This equates to 21.146 pence per Ordinary Share.

Eligible Shareholders wishing to receive some or all of their return of capital in the form of a dividend should, if they have not done so already, complete the Dividend Election Form with which they have been provided and return it to the Company's registrars or, if they hold their Ordinary Shares in uncertificated form (that is, in CREST), send the appropriate TTE instruction as detailed in the Circular, in either case by no later than 1.00 p.m. on 14 April 2014.

In accordance with the terms of the Circular, it is expected that monies will be paid to Shareholders on or around 29 April 2014. Payments made to Shareholders will be denominated in Sterling.

Resolution 2 - Extraordinary Resolution

The resolution that the Company cease to continue as presently constituted as outlined in the Circular, has not been passed.

Resolution 3 - Special Resolution

The resolution to amend Article 38 of the Company's Articles of Incorporation to require the convening of a general meeting no later than 31 December 2016 to propose that the Company cease to continue as constituted, as outlined in the Circular, has been passed and the conditions of the amendments set out in Resolution 3 have been met. The Company will therefore continue as described within the terms of Resolution 3.

Resolution 4 - Ordinary Resolution

The resolution to make various amendments to the management agreement, as outlined in the Circular, has been passed.

Unless otherwise defined, capitalised terms defined in the Circular shall have the same meaning when used in this announcement.

For further information:

Company Registration Number 44813

Website: www.mpofund.com

Public Relations

MHP Communications

Simon Hockridge / Andrew Jaques / James Morgan

Tel: [phone]

Manager

Sniper Capital Limited

Tel: [phone] (Investor Contact)

Tel: [phone](Fund Adviser)

Email: [e-mail]

www.snipercapital.com

Sponsor and Corporate Broker

Liberum Capital

Chris Bowman / Richard Bootle

Tel: [phone]

Company Secretary & Administrator

Heritage International Fund Managers

Mark Huntley / Laurence McNairn

Tel: [phone]

Stock Codes:

Bloomberg:    MPO LN

Reuters:      MPO.L

 

END

 

 

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