REG - CATCo Re-ins Opps Fd - Shareholder mtngs & share redemption proposals

CATCo Reinsurance Opportunities FundAnnouncement

13/03/2020 10:30

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.
 
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 



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.
 


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