CATCo Reinsurance Opps Fund Ltd Dividend Declaration (8846O)
October 04 2019 - 10:28AM
UK Regulatory
TIDMCAT
RNS Number : 8846O
CATCo Reinsurance Opps Fund Ltd
04 October 2019
4 October 2019
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Interim Dividends
Following the receipt by the Company of additional redemption
proceeds from its redemption of the Company's Master Fund Shares,
the Company now holds in aggregate $25.154 million of redemption
proceeds, and has agreed to return $15.924 million in aggregate by
way of interim dividend to Ordinary and C Shareholders.
Consequently, the Board of Directors are declaring interim
dividends of $0.0127 in respect of each of the Ordinary Shares and
$0.0262 in respect of each of the C Shares for the year to 31
December 2019. The record date for these dividends will be 18
October 2019 and therefore the Ordinary Shares and C Shares will go
ex-dividend on 17 October 2019. It is expected that these dividends
will be paid to shareholders on 1 November 2019.
The Company intends to use the remaining redemption proceeds
(less working capital reserves), being $7.972 million in aggregate,
to carry out share buybacks in the market commencing after the
ex-dividend date referred to above of 17 October 2019.
The Company anticipates receiving additional redemption proceeds
as further side pockets held within the Master Fund are released,
and will announce the distribution of these proceeds to Ordinary
and C Shareholders as and when these redemption proceeds are
received by the Company.
The information in this announcement should be read in
conjunction with the full text of the Circular issued by CATCo
Reinsurance Opportunities Fund Limited, dated 13 August 2019.
Capitalised terms used in this announcement shall, unless the
context otherwise requires, bear the meaning given to them in the
Circular.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For further information:
Markel CATCo Investment Management Ltd. Numis Securities Limited
Judith Wynne David Benda / Hugh Jonathan
General Counsel Telephone: +44 (0) 20 7260
Telephone: +1 441 493 9005
Email: judith.wynne@markelcatco.com
Mark Way
Chief of Investor Marketing
Telephone: +1 441 493 9001
Email: mark.way@markelcatco.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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