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AOF Africa Opportunity Fund Limited

0.65
0.00 (0.00%)
Last Updated: 08:00:15
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Africa Opportunity Fund Limited LSE:AOF London Ordinary Share KYG012921535 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.65 0.60 0.70 0.705 0.6425 0.6425 0.00 08:00:15
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -1.5M -2.41M -0.1192 -5.45 13.14M

Africa Opportunity Fund Limited Completion of Mandatory Redemption (4204A)

24/05/2023 7:00am

UK Regulatory


Africa Opportunity (LSE:AOF)
Historical Stock Chart


From Mar 2023 to Mar 2024

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TIDMAOF

RNS Number : 4204A

Africa Opportunity Fund Limited

24 May 2023

24 May 2023

Africa Opportunity Fund Limited

Completion of Mandatory Redemption

PDMR Dealings

The Board of Directors of Africa Opportunity Fund Limited ("AOF" or the "Company") is pleased to announce that the partial mandatory redemption of the Company's Ordinary Shares announced on 15 May 2023 has been completed with the redemption of 8,745,683 Ordinary Shares ("Mandatory Redemption").

On 23 May 2023, AOF redeemed 8,745,683 Ordinary Shares, on a pro rata basis, at the prevailing NAV per Ordinary Share of $ 0.869 as at 30 April 2023. Such shares were cancelled automatically following their redemption.

Fractions of shares produced by the applicable redemption ratios have not been redeemed and so the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.

Payments of redemption proceeds are expected to be effected either through Euroclear or Clearstream (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) on or around 31 May 2023 . Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 31 May 2023.

Following the Mandatory Redemption, the Company has 11,468,907 Ordinary Shares in issue. 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.

The Ordinary Shares were disabled on the record date ( 23 May 2023) and the ISIN number KYG012922038 (the "Old ISIN") has expired. The new ISIN number KYG012921535 (the "New ISIN") in respect of the remaining 11,468,907 Ordinary Shares which have not been redeemed will be enabled and will be available for transactions on 24 May 2023.

DIRECTOR'S INTERESTS

As of 23 May 2023 , Robert Knapp and Myma Belo-Osagie, Directors of the Company, owned 3,263,346 and 27,008 Ordinary Shares, respectively. As a result of the Mandatory Redemption described above, Robert Knapp and Myma Belo-Osagie now hold 1,851,485 and 15,324 Ordinary Shares, respectively.

The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019, are appended below.

   *              *              * 

For more information please contact:

Africa Opportunity Fund Limited

   Francis Daniels                                                         Tel: +2711 684 1528 
   Liberum (Corporate Broker)                         Tel: +44 20 3100 2000 

Darren Vickers

Owen Matthews

For more information about AOF, see www.africaopportunityfund.com

LEI: 213800R1UVN1T8YXS179

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                   Robert Knapp 
     ---------------------  -------------------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------------- 
 a)   Position/status        Non-executive Director 
     ---------------------  -------------------------------------------------- 
 b)   Initial notification   Initial notification 
       /Amendment 
     ---------------------  -------------------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                   Africa Opportunity Fund Limited 
     ---------------------  -------------------------------------------------- 
 b)   LEI                    213800R1UVN1T8YXS179 
     ---------------------  -------------------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------- 
 a)   Description            Ordinary shares of $0.01 each ("Ordinary Shares") 
       of the financial 
       instrument, 
       type of instrument     ISIN number KYG012921535 
       Identification 
       code 
     ---------------------  -------------------------------------------------- 
 b)   Nature of              Mandatory Redemption of Ordinary Shares 
       the transaction 
     ---------------------  -------------------------------------------------- 
 c)   Price(s)                Price(s)   Volume(s) 
       and volume(s)           $0.869     1,411,861 
                                         ---------- 
     ---------------------  -------------------------------------------------- 
 d)   Aggregated             N/A - Single Transaction 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  -------------------------------------------------- 
 e)   Date of the            23/05/2023 
       transaction 
     ---------------------  -------------------------------------------------- 
 f)   Place of               London Stock Exchange 
       the transaction 
     ---------------------  -------------------------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                   Myma Belo-Osagie 
     ---------------------  -------------------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------------- 
 a)   Position/status        Non-executive Director 
     ---------------------  -------------------------------------------------- 
 b)   Initial notification   Initial notification 
       /Amendment 
     ---------------------  -------------------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                   Africa Opportunity Fund Limited 
     ---------------------  -------------------------------------------------- 
 b)   LEI                    213800R1UVN1T8YXS179 
     ---------------------  -------------------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------- 
 a)   Description            Ordinary shares of $0.01 each ("Ordinary Shares") 
       of the financial 
       instrument, 
       type of instrument     ISIN number KYG012921535 
       Identification 
       code 
     ---------------------  -------------------------------------------------- 
 b)   Nature of              Mandatory Redemption of Ordinary Shares 
       the transaction 
     ---------------------  -------------------------------------------------- 
 c)   Price(s)                Price(s)   Volume(s) 
       and volume(s)           $0.869     11,684 
                                         ---------- 
     ---------------------  -------------------------------------------------- 
 d)   Aggregated             N/A - Single Transaction 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  -------------------------------------------------- 
 e)   Date of the            23/05/2023 
       transaction 
     ---------------------  -------------------------------------------------- 
 f)   Place of               London Stock Exchange 
       the transaction 
     ---------------------  -------------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFLFVAETIVFIV

(END) Dow Jones Newswires

May 24, 2023 02:00 ET (06:00 GMT)

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