REG - Macau Prop Opp Fund - Quarterly Net Asset Value Update

Macau Property Opportunities FundAnnouncement

15/08/2024 07:00

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RNS Number : 4866A  Macau Property Opportunities Fund  15 August 2024

15 August 2024

 

 

Macau Property Opportunities Fund Limited

 ("MPO" or the "Company")

 

Quarterly Net Asset Value Update

 

Macau Property Opportunities Fund Limited, managed by property investment
manager Sniper Capital Limited, announces that the unaudited Adjusted Net
Asset Value of the Company was US$ 66.1 million as at 30 June 2024.

 

This is equivalent to US$1.07 (85 pence*) per share and represents a decline
of 12.2% (12.3% in Sterling terms) from the previous quarter.

 

As prefaced in the  latest investor update, local developers have recently
embarked on a series of heavily discounted sales of inventory properties, in
order to raise cashflow, which has impacted market values in the near term.
The Manager continues to achieve carefully targeted sales against this
challenging backdrop. Following the successful reduction of debt levels, the
Company continues to comply with all banking covenants and Loan to Value
ratios.

 

* Based on the US Dollar/Sterling exchange rate of 1.265 on 30 June 2024. The
US Dollar/Sterling exchange rate was 1.263 as at 31 March 2024.

 

Note:

1.    The above figures are estimates only and are unaudited and derived
from independently assessed valuations. The Company's audited Adjusted Net
Asset Value as at 30 June 2024, which may be materially different from the
above estimates, will be announced in conjunction with the release of the
Company's audited annual results for the year ended 30 June 2024. No reliance
should be placed upon the unaudited Adjusted Net Asset Value per share, which
should only be taken as an indicative value.

 

2.    Detailed information on the Company's portfolio and Macau market can
be found on the Company's website at www.mpofund.com (http://www.mpofund.com)
.

 

3.    The content of this announcement contains inside information.

 

 

About Macau Property Opportunities Fund

Premium listed on 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.

 

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

Liberum Capital

Darren Vickers / Owen Matthews

Tel: +44 20 3100 2222

 

Company Secretary & Administrator

Ocorian Administration (Guernsey) Limited

Kevin Smith

Tel: +44 14 8174 2742

 

 

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