Update on Proposed Return of Capital

RNS Number : 2566N

Macau Property Opportunities Fund

08 May 2018

 

8 May 2018 

Macau Property Opportunities Fund Limited

 ("MPO" or the "Company")

Update on Proposed Return of Capital

Further to the recently announced sale of Senado Square and the receipt of the proceeds of that sale, the Company announces that it is currently working on proposals to enable it to return capital to shareholders expected to be no less than 50 per cent. of the net profits from the sale. The proposals will be designed to facilitate the Company's commitment to realising asset values and making further returns of capital to shareholders following future realisations. All potential divestment options for the Company's remaining assets are continuing to be assessed with the goal of maximising exit values.

The Company, therefore, expects to publish a circular to shareholders in June setting out detailed proposals, with notice to convene an extraordinary meeting of the Company, and will make a further announcement accordingly.

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About Macau Property Opportunities Fund

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 largest gaming market and the only city in China where gaming is legalised.

Listed on the London Stock Exchange's main market, it is also a constituent stock of the FTSE All-Share and FTSE SmallCap indices.

Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises a mix of prime residential and retail property assets that are valued at US$436.2 million as at 30 September 2017.

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.

For further information:

Company Registration Number 44813

Website: www.mpofund.com 

Manager

Sniper Capital Limited

Doris Boo

Tel: [phone]

Email: [e-mail] 

Corporate Broker

Liberum Capital

Gillian Martin / Louis Davies

Tel: [phone]

Company Secretary & Administrator

Estera International Fund Managers (Guernsey) Limited

Kevin Smith

Tel: [phone]

Stock Code:

London Stock Exchange: MPO

LEI

213800NOAO11OWIMLR72 

 

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