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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Catco Reinsurance Opportunities Fund Limited | LSE:CAT | London | Ordinary Share | BMG1961Q3242 | ORD USD0.00013716 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 24.00 | 13.00 | 35.00 | 24.00 | 24.00 | 24.00 | 17 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 6.33M | 5.44M | 3.6440 | 6.59 | 35.84M |
TIDMCAT
RNS Number : 5575E
CATCo Reinsurance Opps Fund Ltd
08 April 2011
CATCo Reinsurance Opportunities Fund Ltd. ("the Company or CATCo")
Proposed Capital Raising for New Investment Opportunites
To: SFM, London Stock Exchange Date: 8 April 2011
The Board of Directors are pleased to advise that the Company is seeking to raise additional capital by way of a C-Share issuance. Current market conditions indicate that the Company has attractive investment opportunities available to it, with the ability to write a May/June portfolio including enhanced premiums in excess of those achieved at 1 January 2011.
Following discussions with CATCo's existing reinsurance counterparties where protections have been provided and are included in the existing portfolio, claim reserves held for the recent 2011 events in Australia, New Zealand and Japan are below the Company's reinsurance agreement loss event deductibles. Consequently, the Board of Directors currently do not believe that there are any potential losses to CATCo's reinsurance portfolio resulting from recent events in these countries. CATCo's reinsurance portfolio is also not exposed to any nuclear power related claims.
On Admission to the Specialist Fund Market of the London Stock Exchange on 20 December 2010, the Company raised c. $80.39m and has subsequently raised a further c. $7.35m through a placing of new ordinary shares representing c.9% of the issued share capital on 31 March 2011. The Company is structured as a Feeder Fund into a private Master Fund in Bermuda.
-Ends-
For further information, please contact:
CATCo Investment Management Ltd
Jason Bibb/ Mark Way
Telephone: +1 441 531 2227 / +44 7786 116991
Email: jason.bibb@catcoim.com / mark.way@catcoim.com
David Benda / Hugh Jonathan
Numis Securities Limited
Telephone: +44 (0)20 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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