REG - CATCo Re-ins Opps Fd - Net Asset Value(s) & Portfolio Update

CATCo Reinsurance Opportunities FundAnnouncement

11/06/2020 07:01

RNS Number : 6013P
  
CATCo Reinsurance Opps Fund Ltd
  
11 June 2020
  
 

FOR IMMEDIATE RELEASE
 
 
11 June 2020
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Net Asset Value and Portfolio Update
 
 
To: SFS, London Stock Exchange and Bermuda Stock Exchange

 
May 2020 Net Asset Values
Markel CATCo Investment Management Ltd., the Company's Investment Manager, announces the unaudited Net Asset Value of the Company's Ordinary Shares and C Shares of $0.2665 and $0.5150 respectively, as at the close of business on 31 May 2020.
 
Portfolio Update
The Investment Manager advises of a further release of Side Pocket Investment ("SPI") capital of approximately $15.8 million which is expected to be paid to the Company during July 2020, and which the Company intends to use to carry out a third compulsory partial redemption of its issued share capital. The Company will issue further details of the expected timetable for this third compulsory redemption shortly.
 
The breakdown of the aforementioned SPI releases is as follows:
 
 




SPI Year


Ord Shares


% of SPI


 


C Shares


% of SPI




2016 SPI


$879,965


11.6%


 


-


-




2018 SPI


$588,617


3.1%


 


$3,267,337


3.1%




2019 SPI


$2,157,917


11.2%


 


$8,900,507


11.2%




TOTAL


$3,626,499


-


 


$12,167,844


-






 
 
This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.
 
 




For further information:


 




Markel CATCo Investment Management Ltd.
 
Judith Wynne
General Counsel
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 Securities Limited
 
David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260 1000




 


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