Transaction in Own Shares - Compulsory Redemption
CATCo Reinsurance Opportunities Fund Limited (the "Company")
19 May 2020
Partial Compulsory Redemption of Shares
Following the redemption of 17,324,761 Ordinary Shares at a rate of $0.2669 per Ordinary Share and 27,513,980 C Shares at a rate of $0.5161 per C Share on 18 May 2020 (as previously announced on 13 March 2020 and updated on 11 May 2020), the Company now has 268,592,075 Ordinary Shares in issue and 363,364,880 C Shares in issue. With effect from today, the Company's Ordinary Shares will trade under the new ISIN number BMG1961Q1832 and the C Shares will trade under the new ISIN number BMG1961Q1915.
The applicable redemption ratios were 0.060593983 in relation to the Ordinary Shares and 0.070390215 in relation to the C Shares. On this basis, a holder of 100,000 Ordinary Shares will have had 6,059 Ordinary Shares redeemed, and receive $1,617.14 in cash. A holder of 100,000 C Shares will have had 7,039 C Shares redeemed, and receive $3,634.93 in cash. Approximately 6.63% 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 268,592,075 Ordinary Shares and 363,364,880 C Shares. Accordingly, the total number of voting rights in the Company is 631,956,955.
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 22 May 2020, and paid by cheque to holders of Ordinary Shares in certificated form, on 29 May 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.
For further information:
Markel CATCo Investment Management Ltd.
Telephone: +1 441 493 9005
Email: [email protected]
Chief of Investor Marketing
Telephone: +1 441 493 9001
Email: [email protected]
Numis Securities Limited
David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260 1000
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