CATCo Reinsurance Opps Fund Ltd Issue of Equity (2728G)
May 25 2017 - 8:51AM
UK Regulatory
TIDMCAT
RNS Number : 2728G
CATCo Reinsurance Opps Fund Ltd
25 May 2017
FOR IMMEDIATE RELEASE
25 May 2017
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Issue of Equity
The Company today announces that 35,606,039 Ordinary Shares of
US$ 0.0001 each have been issued for cash at US$1.2889 per share,
raising gross proceeds of $45.9 million, in order to satisfy demand
that cannot be met through the secondary market.
Application has been made for these shares to be admitted to
trading on the Specialist Fund Segment of the London Stock
Exchange's Main Market. Trading is expected to commence on 31 May
2017. Upon Admission, the shares will rank pari passu in all
respects with the existing Ordinary Shares of the Company. As a
result of this share issue, the Company has in issue 391,666,424
Ordinary Shares.
James Keyes, Chairman of the Company, commented: "The Board of
CATCo Reinsurance Opportunities Fund Ltd. is delighted to have had
such a positive response to this capital raising, which has been
significantly over-subscribed. This increases total net assets of
the Company through $500 million."
Ends
For further information:
Judith Wynne
General Counsel
Markel CATCo Investment Management Ltd.
Telephone: +1 441 493 9000
Email: judith.wynne@markelcatco.com
Mark Way
Chief Operating Officer
Markel CATCo Investment Management Ltd.
Telephone: +1 441 493 9000
Email: mark.way@markelcatco.com
Numis Securities Limited
Hugh Jonathan / Chris Gook
Telephone: +44 (0) 20 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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