Third Point Offshore Redemption of Shares
September 05 2018 - 11:18AM
UK Regulatory
TIDMTPOG TIDMTPOU
Third Point Offshore Investors Limited
(a closed-ended investment company incorporated in Guernsey with registration
number 47161)
LEI Number: 549300WXTCG65AQ7V644 Renewal Date- 20/12/2018
(The "Company" or "TPOIL")
5 SEPTEMBER 2018
REDEMPTION OF SHARES
Further to the Extraordinary General Meeting of the Company held on 31 August
2018, the Board of Third Point Offshore Investors is pleased to announce that
the Company has redeemed 2,500,000 shares held by Third Point Offshore Fund,
Ltd. (the "Master Fund"). The shares redeemed represent 5.0% of the Company's
outstanding shares.
The shares were redeemed at $15.80 per share. The redemption of the shares held
by the Master Fund is expected to result in an estimated increase in the
Company's NAV per share of approximately 19 cents. The effect of the redemption
of the shares will be reflected in the Company's NAV per share as at 31 August
2018.
Following the redemption of the shares, the Company's issued share capital
consists of the following:
* 47,504,787 US Dollar Ordinary Shares with one voting right per share.
* 31,669,953 US Dollar B Shares with one voting right per share and no rights
to distribution of profits
The total number of voting rights in the Company is therefore 79,174,740.
As announced on 2 May 2018, the Board intends, dependent on the Master Fund's
performance, to redeem the remaining TPOIL shares held by the Master Fund in
2019 or, if necessary, thereafter. Furthermore, the Board has received an
undertaking from the Master Fund that it will not dispose of any TPOIL shares
it holds while awaiting cancellation unless any such disposal is priced at or
above the Company's prevailing NAV per share. The Board will separately
continue to monitor the Company's rating following the proposed Premium Listing
and may, at its discretion, engage opportunistically in future share
repurchases by causing the Company to purchase such shares in the open market
and cancel them upon such purchase.
Enquiries:
Company Website: www.thirdpointoffshore.com
Northern Trust International Fund Administration Services (Guernsey) Limited
The Company Secretary
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745001
END
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