Weiss Korea Opportunity Fund Ltd.

(“WKOF” or the “Company”)
(a closed-ended investment scheme   incorporated with limited liability
under the laws of Guernsey with registration number   56535)
LEI Number:   213800GXKGJVWN3BF511

 

COMPULSORY REDEMPTION OF SHARES

 

Further to the resolutions passed by the Company's shareholders at its Extraordinary General Meeting on 14 April 2025 to approve the Managed Wind-down of the Company and enable compulsory redemptions of the Company's ordinary shares (" Shares "), the Company today announces that it intends to return GBP70,000,000 by way of a compulsory redemption of Shares (the " Redemption ") after close of business on 9 July 2025 (the " Redemption Date "). The Redemption will be effected at a price per Share equal to the prevailing Net Asset Value per Share as at the Redemption Date.  

The number of Shares to be redeemed will be redeemed pro rata to holdings of Shares on the Company’s register of members at close of business on the Redemption Date and will be paid to Shareholders in sterling. As at today's date, the Company has 69,265,582 Shares in issue with voting rights and 11,752,246 Shares held in treasury. For illustrative purposes only, if the redemption price was equal to the prevailing Net Asset Value per Share as at the date of this announcement, being 163.93 pence per Share, a holder of 100,000 Shares would have 61,648 Shares redeemed, and receive GBP101,059.57 in cash.

Fractions of Shares will not be redeemed and so the number of Shares to be compulsorily redeemed from each Shareholder will be rounded down to the nearest whole number of Shares. Final calculations of the number of Shares to be redeemed and confirmation of the redemption price will be announced shortly after the Redemption Date.

Payments of redemption monies are expected to be effected either through CREST (in the case of Shares held in uncertificated form) or by cheque (in the case of Shares held in certificated form) on 23 July 2025, or as soon as practicable thereafter. Share certificates currently in issue will be superseded by new share certificates for the balance of the relevant shareholdings in the Company and will be distributed to certificated Shareholders with the cheque in respect of their redemption monies.

All Shares that are redeemed will be cancelled. Accordingly, once redeemed, such Shares will be incapable of transfer by Shareholders or reissue by the Company.

The Shares will be disabled in CREST after close of business on the Redemption Date and the existing ISIN number, GG00B933LL68, (the " Old ISIN ") will expire.

The new ISIN number, GG00BT26K977, (the "New ISIN") in respect of the remaining Shares, which will not have been redeemed, will be enabled and available for transactions after 8.00 a.m. on 10 July 2025.

Up to and including the Redemption Date, the Shares will continue to be traded under the Old ISIN and as such, a purchaser of such Shares who was not on the register as at the record date for the Redemption would have a market claim for a proportion of the redemption proceeds following the activation of the New ISIN. CREST will automatically transfer any open transactions as at the Redemption Date to the New ISIN.

Shareholders should note that the Board retains absolute discretion as to the execution, extent and timing of any further redemptions.

Expected timetable for Redemption

The anticipated dates and sequence of events relating to the implementation of the Redemption are set out below:

Redemption Record Date                  Close of business on 9 July 2025

Redemption Date and expiry of Old ISIN  After close of business on 9 July 2025

Announcement of completion of the
Redemption, redemption price and total  10 July 2025
voting rights

Redemption Ex Date                      10 July 2025

New ISIN enabled                        10 July 2025

Cheques in respect of redemption monies
and new share certificates to be posted 23 July 2025
to certificated Shareholders

CREST Accounts credited in respect of
redemption monies to be paid to         23 July 2025
uncertificated shareholders

 

Capitalised terms used but not defined in this announcement will have the same meaning as set out in the circular of the Company published on 19 March 2025.

 _____________________
|New ISIN|GG00BT26K977|
|________|____________|
|SEDOL   |BT26K97     |
|________|____________|
|TIDM    |WKOF        |
|________|____________|

 

For further information, please contact:

 

        Weiss Asset Management LP (Investment Manager)

Andrew Daly
                                                           +1 (617) 778-7780
Eric RuizRachel LehmanSinger Capital Markets Advisory LLPJames Maxwell, James Fischer, Anthony Debson, Samed Ethemi +44 (0) 20 7496 3000
(Corporate Finance)

Alan Geeves, James Waterlow, Sam Greatrex (Sales)

Northern Trust International Fund Administration services
(guernsey) Limited                                         +44 (0) 1481 745001
Company Secretary

A copy of this announcement will be available on the Company's website at   https://www. https://www.weisskoreaopportunityfund.com. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

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