Pacific Alliance Asia Opp Fd Ld Director Dealing (1688G)

TIDMPAX

RNS Number : 1688G

Pacific Alliance Asia Opp Fd Ld

03 June 2013

3 June 2013

Pacific Alliance Asia Opportunity Fund Limited

Director Dealings

Pacific Alliance Asia Opportunity Fund Limited ("PAX" or the "Company") (AIM: PAX), the closed-end investment company admitted to trading on AIM, has been notified that Ironsides Partners Opportunity Master Fund L.P. ("Ironsides Master Fund") has entered into the following Long Contracts for Difference in respect of PAX's ordinary shares ("Ordinary Shares"):

1. 420,000 Ordinary Shares at a price of US$1.26 per share on 15 February 2013. The maturity date is 10 February 2014; and

2. 1,000,000 Ordinary Shares at a price of US$1.28 per share on 30 May 2013. The maturity date is 2 June 2023.

The Company has also been notified that on 22 November 2012, Ironsides Master Fund sold 44,302 of the Company's Ordinary Shares of US$0.01 each at a price of $1.45 per share as part of the Company's Tender Offer that closed on 14 November 2012.

The investment manager of Ironsides Partners Master Fund is Ironsides Partners LLC, the President of which is Mr. Robert Knapp, a director of the Company.

As a result of these transactions, Mr. Knapp is indirectly interested in 3,254,307 of the Company's Ordinary Shares which represents 2.86 per cent. of the Company's total voting rights.

For further information, please contact:

 
 MANAGER:                                  LEGAL COUNSEL: 
  Chris Gradel, Managing Partner            Jon Lewis, General Counsel 
  Pacific Alliance Investment Management    PAG 
  15/F, AIA Central                         15/F, AIA Central 
  1 Connaught Road                          1 Connaught Road 
  Central, Hong Kong                        Central, Hong Kong 
  T: (852) 2918 0088                        T: (852) 2918 0088 
  F: (852) 2918 0881                        F: (852) 2918 0881 
  [e-mail]                       [e-mail] 
----------------------------------------  ---------------------------------- 
 BROKER:                                   NOMINATED ADVISER: 
  Hiroshi Funaki                            Philip Secrett 
  LCF Edmond de Rothschild Securities       Grant Thornton Corporate Finance 
  T: (44) 20 7845 5960                      T: (44) 20 7383 5100 
  F: (44) 20 7845 5961                      [e-mail] 
  [e-mail] 
----------------------------------------  ---------------------------------- 
 MEDIA RELATIONS: 
  Stephanie Barry 
  PAG 
  T: (852) 3719 3375 
  [e-mail] 
----------------------------------------  ---------------------------------- 
 

About Pacific Alliance Asia Opportunity Fund Limited

The Pacific Alliance Asia Opportunity Fund Ltd (AIM: PAX) is a closed-end investment company with net assets of US$171.76 million as at 30 April 2013. PAX was admitted to trading on the AIM Market of the London Stock Exchange in September 2006. PAX is focused on investing in distressed credit, private equity secondaries, activist investments and other opportunities offering the possibility of unlocking the underlying value of a company or asset across the Asian markets.

For more information about Pacific Alliance Asia Opportunity Fund Limited, please visit: www.pax-fund.com

Pacific Alliance Asia Opportunity Fund Limited is a member of PAG (formerly known as Pacific Alliance Group), the Asian alternative investment fund management group. Founded in 2002, PAG is now one of the region's largest Asia-focused alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies.

PAG has a presence across Asia with over 320 staff working in the region.

For more information about PAG, please visit: www.pagasia.com

This information is provided by RNS

The company news service from the London Stock Exchange

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