REG - Macau Prop Opp Fund - Placing and Financial Position Update

Macau Property Opportunities FundAnnouncement

27/11/2025 07:30

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RNS Number : 2586J  Macau Property Opportunities Fund  27 November 2025

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER TO SELL OR
SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED
STATES, AUSTRALIA, CANADA, REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE
OF THE EUROPEAN ECONOMIC AREA ("EEA") OR ANY JURISDICTION IN WHICH IT WOULD BE
UNLAWFUL TO DO SO. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION
SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT
DECISION IN RESPECT OF THE COMPANY.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

 

 

27 November 2025

 

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

Placing and financial position update

Further to the Company's announcements on 17 November 2025 and 24 November
2025 of a proposed placing of new ordinary shares in the Company, in order to
raise a minimum of £1.7 million, the Company notes that it has been unable to
raise the required minimum amount and the placing will therefore not proceed.

As described in the Company's circular dated 17 November 2025, in the absence
of alternative funding and/or  substantial and immediate proceeds from the
realisation of assets and/or agreement to the contrary (none of which can be
guaranteed), the Group would not be able to satisfy the December 2025 loan
instalments (which amount to £1.5m in aggregate and are scheduled for payment
on 15 December 2025) due on its Penha Heights banking facilities and/or be in
breach of certain financial covenants under these facilities.  The Company
will seek to continue its discussions with its lenders and, if possible,
accelerate the sale of properties, but there is no certainty as to the
outcome.

Absent agreement to the contrary, if the Company were unable to satisfy the
above payments when they become due, the lenders could demand accelerated
repayment of part and/or all outstanding amounts due and/or call on parent
guarantees given by the Company to relevant borrower entities, and
 cross-default provisions across the Group's other facilities could be
triggered. This could ultimately result in expedited and enforced sales of the
two Penha Heights units by the lenders (including at depressed prices) and/or
the Group being required to satisfy demand for payment of all outstanding
monies due in respect of Penha Heights through other means (which the Company
does not anticipate being able to do given its current working capital and
liquidity position).

Due to prevailing market conditions, there is no certainty that, in the case
of lender enforcement, Penha Heights could be sold for an amount equal to or
above the outstanding loan amounts secured against it which could result in
the Group not being able to satisfy the loans secured against Penha Heights
nor being able to distribute any returns to Shareholders in respect of that
property. Due to the parent company guarantees under the Penha Heights banking
facilities and cross-default provisions in the Group's financing documents,
there is also a risk that the Group could become obligated to dispose of its
other outstanding properties on an expedited and/or depressed basis, and this
could lead to the need for restructuring, liquidation or insolvency
proceedings and Shareholders losing all or part of their investment.

The Company will be actively seeking to avoid any default situation and is
taking advice on its position.  A further update will be issued in due
course.

 

Stock Code

London Stock Exchange: MPO

 

LEI

213800NOAO11OWIMLR72

 

 

For further information:

 

Manager

Sniper Capital Limited

Group Communications

Tel: +853 2870 5151

Email: info@snipercapital.com (mailto:info@snipercapital.com)

 

Corporate Broker, Financial Adviser and Sole Bookrunner

Panmure Liberum Limited

Darren Vickers

Tel: +44 20 3100 2222

 

Company Secretary & Administrator

Ocorian Administration (Guernsey) Limited

Kevin Smith

Tel: +44 14 8174 2742

 

About Macau Property Opportunities Fund

Listed on the Main Market of the London Stock Exchange, Macau Property
Opportunities Fund Limited (http://mpofund.com/)  is a closed-end investment
company registered in Guernsey and is the only quoted property fund dedicated
to investing in Macau, the world's leading gaming market and the only city in
China where gaming is legalised.

Launched in 2006, the Company targets strategic property investment and
development opportunities in Macau. Its current portfolio comprises prime
residential property assets.

The Company is managed by Sniper Capital Limited (http://snipercapital.com/)
, an Asia-based property investment manager with an established track record
in fund management and investment advisory.

 

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