CATCo Reinsurance Opps Fund Ltd Issue of Equity (7652X)
November 28 2017 - 9:50AM
UK Regulatory
TIDMCAT
RNS Number : 7652X
CATCo Reinsurance Opps Fund Ltd
28 November 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR
TO U.S. PERSONS.
CATCo Reinsurance Opportunities Fund Ltd.
Result of Equity Issue
To: Specialist Fund Segment, Date: 28 November 2017
London Stock Exchange and
Bermuda Stock Exchange
Following its announcement on 8 November 2017, the Company is
pleased to announce that it has received applications and
commitments for a total of 543,000,000 new C Shares pursuant to the
Initial Placing and Offer at the price of US$1 per share, raising
gross proceeds of US$543,000,000. Accordingly applications under
the Offer and commitments under the Initial Placing will all be met
in full. The Company received commitments for a total of
528,845,098 C Shares through the Initial Placing and applications
for a total of 14,154,902 C Shares through the Offer.
Application has been made for 543,000,000 C Shares to be issued
pursuant to the Initial Placing and Offer to be admitted to trading
on the Specialist Fund Segment of the London Stock Exchange. It is
expected that Admission will become effective, and dealings will
commence, at 8:00am (London time) on 1 December 2017.
Following Admission, the number of Ordinary Shares that the
Company has in issue will be 934,666,430 and the number of C Shares
that the Company has in issue will be 543,000,000. The C Shares
carry the right to attend or vote at any general meeting of the
Company in the same manner as the Ordinary Shares. Accordingly, the
total number of voting rights in the Company will be 934,666,430
and 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 Disclosure Guidance and Transparency Rules.
The Company will instruct Euroclear on or around 1 December 2017
(or as soon as practicable thereafter) to credit the appropriate
stock accounts in CREST of the placees and subscribers (on a
delivery versus payment basis) with their respective entitlements
to Depositary Interests in respect of C Shares. Temporary documents
of title will not be issued pending the dispatch by post of
definitive certificates for C Shares in certificated form, which is
expected to take place in the week commencing 11 December 2017.
Tony Belisle, Chief Executive, Markel CATCo Investment
Management Ltd., said:
"We are delighted with the tremendous support shown by existing
and new investors for Markel CATCo's specialised ILS investment
opportunity. The fundraise will ensure the Company continues to
meet the growing demand from our buyers for our unique reinsurance
protections."
For further information, please contact:
Judith Wynne, General Counsel
Mobile: +44 (0) 7986 205364
Telephone: +1 (441) 493 9005
Email: judith.wynne@markelcatco.com
Mark Way, Chief Operating Officer
Mobile: +1 (441) 504 9178
Telephone: +1 (441) 493 900
Email: mark.way@markelcatco.com
Numis Securities Limited
Hugh Jonathan / Harry Trueman
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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