Transaction in Own Shares-Compulsory RedemptionSource: RNS
CATCo Reinsurance Opportunities Fund Limited (the "Company")
8 October 2020
Partial Compulsory Redemption of Shares
Following the redemption of 59,864,382 Ordinary Shares at a rate of $0.2656 per Ordinary Share and 153,186,446 C Shares at a rate of $0.5131 per C Share on 7 October 2020 (as previously announced on 13 March 2020 and updated on 30 September 2020), the Company now has 168,898,993 Ordinary Shares in issue and 126,369,585 C Shares in issue. With effect from today, the Company's Ordinary Shares will trade under the new ISIN number BMG1961Q2582 and the C Shares will trade under the new ISIN number BMG1961Q2665.
The applicable redemption ratios were 0.261687243 in relation to the Ordinary Shares and 0.547963542 in relation to the C Shares. On this basis, a holder of 100,000 Ordinary Shares will have had 26,168 Ordinary Shares redeemed, and receive $6,950.22 in cash. A holder of 100,000 C Shares will have had 54,796 C Shares redeemed, and receive $28,115.82 in cash. Approximately 41.91% 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 168,898,993 Ordinary Shares and 126,369,585 C Shares. Accordingly, the total number of voting rights in the Company is 295,268,578.
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 13 October 2020, and paid by cheque to holders of Ordinary Shares in certificated form on 19 October 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
Chief of Investor Marketing
Telephone: +1 441 493 9001
Numis Securities Limited
David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260 1000