REG - CATCo Re-ins Opps Fd - Issue of Equity - Correction <Origin Href="QuoteRef">CATC.L</Origin>

CATCo Reinsurance Opportunities FundAnnouncement

29/11/2017 16:45

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RNS Number : 8982X
CATCo Reinsurance Opps Fund Ltd
29 November 2017 
 
THIS RELEASE REPLACES NO. 7652X WHICH WAS ANNOUNCED YESTERDAY. 
 
The number of Ordinary shares was incorrectly reported. 
 
All other details remain unchanged. 
 
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION,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, London Stock Exchange and Bermuda Stock Exchange  Date: 28 November 2017  
 
 
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 391,666,430 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 the 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