Friday saw CATCo Reinsurance Opportunities Fund Limited (the "Company") complete a partial compulsory redemption of shares. The redemption involved 109,246 Ordinary Shares at $41.6197 each and 74,846 C Shares at $221.6594 each, as previously announced on March 13, 2020, and updated on November 13, 2024. Following this redemption, the Company has 4,858 Ordinary Shares and 3,478 C Shares remaining in issue.
The redemption ratios applied were 0.958099628 for Ordinary Shares and 0.956143710 for C Shares. Consequently, a holder of 1,000 Ordinary Shares would have had 958 shares redeemed, receiving a cash sum of $39,871.67. Similarly, a holder of 1,000 C Shares would have had 956 shares redeemed, with a cash return of $211,906.38. Approximately 95.73% of the issued share capital was redeemed.
In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTR 5.6.1), the Company has disclosed its updated issued share capital, which consists of 4,858 Ordinary Shares and 3,478 C Shares. This brings the total voting rights in the Company to 8,336. Shareholders may use this figure as the denominator for calculations to determine if they need to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules (DTR 5.1.2).
The proceeds from the redemption are scheduled to be disbursed through CREST to holders of Ordinary Shares and C Shares in uncertificated form on November 27, 2024, and by cheque to holders of Ordinary Shares in certificated form on November 29, 2024. The new ISIN numbers for the Ordinary Shares and C Shares are BMG1961Q3325 and BMG1961Q3408, respectively, effective from today.
This financial activity is part of the Company's ongoing management of its share capital, as outlined in the Circular to Shareholders dated March 13, 2020. Further details regarding the redemption process and future financial activities can be obtained from Markel (NYSE:MKL) CATCo Investment Management Ltd. or Numis Securities Limited.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.