CATCo Reinsurance Opps Fund Ltd Partial Compulsory Redemption of Shares

RNS Number : 2604N

CATCo Reinsurance Opps Fund Ltd

22 November 2024

 

22 November 2024

CATCo Reinsurance Opportunities Fund Limited (the "Company")

Partial Compulsory Redemption of Shares

Following the redemption of 109,246 Ordinary Shares at a rate of $41.6197 per Ordinary Share and 74,846 C Shares at a rate of $221.6594 per C Share on 21 November 2024 (as previously announced on 13 March 2020 and updated on 13 November 2024), the Company now has 4,858 Ordinary Shares in issue and 3,478 C Shares in issue. With effect from today, the Company's Ordinary Shares will trade under the new ISIN number BMG1961Q3325 and the C Shares will trade under the new ISIN number BMG1961Q3408 .

The applicable redemption ratios were 0.958099628 in relation to the Ordinary Shares and 0.956143710 in relation to the C Shares. On this basis, a holder of 1,000 Ordinary Shares will have had 958 Ordinary Shares redeemed, and receive $39,871.67 in cash. A holder of 1,000 C Shares will have had 956 C Shares redeemed, and receive $211,906.38 in cash. Approximately 95.73% 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 4,858 Ordinary Shares and 3,478 C Shares.  Accordingly, the total number of voting rights in the Company is 8,336.

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 27 November 2024, and paid by cheque to holders of Ordinary Shares in certificated form on  29 November 2024.

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.

 

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

 

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