Africa OpportunityFd - Completion of Mandatory Redemption

Flint

02/06/2021 07:00

RNS Number : 4888A

Africa Opportunity Fund Limited

02 June 2021

 

2 June 2021

 

 

Africa Opportunity Fund Limited

 

Completion of Mandatory Redemption

 

PDMR Dealings

 

 

 

The Board of Directors of Africa Opportunity Fund Limited ("AOF" or the "Company") is pleased to announce that the partial mandatory redemption of the Company's Ordinary Shares announced on 24 May 2021 has been completed with the redemption of 10,218,402 Ordinary Shares ("Mandatory Redemption").

On 1 June 2021, AOF redeemed 10,218,402 Ordinary Shares, on a pro rata basis, at the prevailing NAV per Ordinary Share of $0.705 as at 30 April 2021.  Such shares were cancelled automatically following their redemption.

Fractions of shares produced by the applicable redemption ratios have not been redeemed and so the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.

Payments of redemption proceeds are expected to be effected either through Euroclear or Clearstream (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) on or around 7 June 2021. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 7 June 2021.

Following the Mandatory Redemption, the Company has 24,787,758 Ordinary Shares in issue.

The Ordinary Shares were disabled on the record date (1 June 2021) and the ISIN number KYG012921386 (the "Old ISIN") has expired.  The new ISIN number KYG012921469 (the "New ISIN") in respect of the remaining 24,787,758 Ordinary Shares which have not been redeemed will be enabled and will be available for transactions on 2 June 2021.

DIRECTOR'S INTERESTS

 

As of 1 June 2021, Robert Knapp and Myma Belo-Osagie, Directors of the Company, owned 5,651,225 and 46,769 Ordinary Shares, respectively. As a result of the Mandatory Redemption described above, Robert Knapp and Myma Belo-Osagie now hold 4,001,616 and 33,117 Ordinary Shares, respectively.

 

The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019, are appended below.

 

 

 

*              *              *

 

 

 

 

 

For more information please contact:

 

Africa Opportunity Fund Limited

Francis Daniels                                                         Tel: +2711 684 1528

 

Liberum (Corporate Broker)                                  Tel: +44 20 3100 2000

Darren Vickers

Owen Matthews

 

For more information about AOF, see www.africaopportunityfund.com

 

LEI: 213800R1UVN1T8YXS179

 

 

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Robert Knapp
2
Reason for the notification
a)
Position/status
Non-executive Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Africa Opportunities Fund Limited
b)
LEI
213800R1UVN1T8YXS179
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of $0.01 each ("Ordinary Shares")

ISIN number KYG012921469
b)
Nature of the transaction
Mandatory Redemption of Ordinary Shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
$0.705
1,649,609
d)
Aggregated information
- Aggregated volume
- Price
N/A - Single Transaction
e)
Date of the transaction
02/06/2021
f)
Place of the transaction
London Stock Exchange

 

 

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Myma Belo-Osagie
2
Reason for the notification
a)
Position/status
Non-executive Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Africa Opportunities Fund Limited
b)
LEI
213800R1UVN1T8YXS179
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of $0.01 each ("Ordinary Shares")

ISIN number KYG012921469
b)
Nature of the transaction
Mandatory Redemption of Ordinary Shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
$0.705
13,652
d)
Aggregated information
- Aggregated volume
- Price
N/A - Single Transaction
e)
Date of the transaction
02/06/2021
f)
Place of the transaction
London Stock Exchange

 

 

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