CATCo Reinsurance Opps Fund Ltd Shareholder mtngs & share redemption proposals (0177G)
March 13 2020 - 5:30AM
UK Regulatory
TIDMCAT
RNS Number : 0177G
CATCo Reinsurance Opps Fund Ltd
13 March 2020
13 March 2020
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Publication of Circular and Notice of Special General Meeting
and Class Meetings
Circular
Further to the Company's announcement on 25 February 2020, the
Company has today published a Circular in relation to the proposal
to permit the Company to periodically redeem its Ordinary Shares
and C Shares.
The proposal requires the approval of the Shareholders, as well
as the separate approval of the Ordinary Shareholders and C
Shareholders. Such approvals are being sought at a Special General
Meeting and two separate Class Meetings to be held at 1:00 p.m.,
1.05 p.m. and 1.10 p.m. (London time) on 6 April 2020. Notices
convening each meeting are set out in Part 4 of the Circular.
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 March 2020.
Capitalised terms used in this announcement shall, unless the
context otherwise requires, bear the meaning given to them in the
Circular.
Update on the Future of the Company
The Directors also wish to announce that they have concluded
that the Company will not raise further capital in any
circumstances, and so the Company is being terminated by means of a
managed process leading to liquidation in due course. Accordingly,
the only further business that will be undertaken is that necessary
to complete the run-off of each of the Company's portfolios. The
return of capital to Shareholders which is envisaged in the
Circular to take place as and when the Company receives sufficient
redemption proceeds is part of this managed termination process,
and such return of capital will, in due course, be completed via
the liquidation process.
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
Numis, which is authorised and regulated by the Financial
Conduct Authority, is acting only for the Company in connection
with the matters described in this announcement and is not acting
for or advising any other person, or treating any other person as
its client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of Numis or
advice to any other person in relation to the matters contained
herein.
The distribution of this announcement in your jurisdiction may
be restricted by law and the persons into whose possession this
announcement comes should inform themselves about, and observe, any
such restrictions.
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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