CATCo Reinsurance Opps Fund Ltd Transaction in Own Shares - Compulsory Redemption (3824K)

TIDMCAT

RNS Number : 3824K

CATCo Reinsurance Opps Fund Ltd

21 April 2020

CATCo Reinsurance Opportunities Fund Limited (the "Company")

21 April 2020

Partial Compulsory Redemption of Shares

Following the redemption of 19,895,024 Ordinary Shares at a rate of $0.2669 per Ordinary Share and 46,533,616 C Shares at a rate $0.5164 per C Share on 20 April 2020 (as previously announced on 13 March 2020 and updated on 9 April 2020), the Company now has 285,916,836 Ordinary Shares in issue and 390,878,860 C shares in issue. With effect from today the Company's Ordinary Shares will trade under the new ISIN number BMG1961Q1758 and the C Shares will trade under the new ISIN number BMG1961Q1675.

On this basis, a holder of 10,000 Ordinary Shares will have 650 Ordinary Shares redeemed, and receive $173.48 in cash. A holder of 10,000 C Shares will have 1,063 C Shares redeemed, and receive $548.93 in cash. Approximately 8.94% 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 285,916,836 Ordinary Shares and 390,878,860 C Shares. Accordingly, the total number of voting rights in the Company is 676,795,696.

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 in uncertificated form on 24 April 2020, and paid by cheque to holders of Ordinary Shares in certificated form, on 30 April 2020.

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.

Enquiries:

 
For further information: 
Markel CATCo Investment Management Ltd.  Numis Securities Limited 
 
 Judith Wynne                             David Benda / Hugh Jonathan 
 General Counsel                          Telephone: [phone] 
 Telephone: [phone]               1000 
 Email: [e-mail] 
 
 Mark Way 
 Chief of Investor Marketing 
 Telephone: [phone] 
 Email: [e-mail] 
 

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April 21, 2020 09:27 ET (13:27 GMT)