Third Point Offshore Cancellation of Shares

 
TIDMTPOG TIDMTPOU 
 
Third Point Offshore Investors Limited 
 (a closed-ended investment company incorporated in Guernsey with registration 
                                 number 47161) 
                       LEI Number: 549300WXTCG65AQ7V644 
                                (The "Company") 
 
3 July 2019 
 
CANCELLATION OF SHARES 
 
The Board of Third Point Offshore Investors Limited ("TPOIL" or the "Company") 
is pleased to announce the cancellation of all remaining 3,379,753 Shares 
currently held by the Master Fund for the benefit of the Company.  The 
cancellation is in accordance with the Repurchase Policy announced on 2 May 
2018.  Since 5 December 2018, the Board has been operating a buyback programme 
and will continue to monitor the Company's rating and may, at its discretion, 
engage opportunistically in future share repurchases by causing the Company to 
purchase such shares in the open market and cancel them upon such purchase. 
 
The cancellation of these shares combined with the 3,427,485 ordinary shares 
repurchased and cancelled by the Company through the ongoing share repurchase 
programme announced on 5 December 2018 will result in the following issued 
share capital: 
 
  * 40,697,549 US Dollar Ordinary Shares with one voting right per share. 
  * 27,131,699 US Dollar B Shares with one voting right per share and no rights 
    to distribution of       profits. 
 
 
The total number of shares in issue is 67,829,248. This number represents the 
total voting rights in the Company and may be used by shareholders as the 
denominator for the calculations by which they can determine if they are 
required to notify their interest in, or a change to their interest in the 
Company under the Financial Conduct Authority's Disclosure Guidance and 
Transparency Rules. 
 
Steve Bates, Chairman of TPOIL, commented: "The cancellation of the Company's 
remaining shares in the Master Fund completes the process started in September 
2018.  This increases NAV per share by 41 cents or approximately 2%, which is 
in addition to the NAV uplift of 19 cents when the first tranche of shares was 
cancelled last year. The Board hopes that this measure, in conjunction with 
other initiatives, will help to bring down the discount to NAV at which the 
Company's shares trade." 
 
For further information, please visit the Company's website ( 
www.thirdpointoffshore.com) which was developed and is maintained to provide 
information and transparency to current and prospective investors. 
 
Enquiries: 
 
Company Website: www.thirdpointoffshore.com 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
The Company Secretary 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
GY1 3QL 
 
Tel:        [phone] 
 
END 
 
 
 
END 
 

(END) Dow Jones Newswires

July 03, 2019 12:12 ET (16:12 GMT)