REG - Macau Prop Opp Fund - Sale of units for US$14.4 million

Macau Property Opportunities FundAnnouncement

26/07/2022 07:00

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RNS Number : 6699T  Macau Property Opportunities Fund  26 July 2022

26 July 2022

 

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

 

Sale of units for US$14.4 million

 

Sale of units

 

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited,
today announces the sale of four units located in its flagship property, The
Waterside Macau, for a combined HK$113.4 million (c.US$14.4 million).

 

On 25 July 2022, the sale of two units was completed in full for a gross
consideration of HK$70.9 million (c.US$9.03 million). Sale & Purchase
Agreements for a further two units worth a combined HK$42.5 million (c.US$5.4
million) have been executed and secured with non-refundable deposits amounting
to 10% of the sales values. These transactions are expected to be fully
completed by end August 2022.

 

The total combined transaction value represents an average 6.8% discount to
the units' latest valuations.

 

The sale of units is in accordance with the Company's ongoing divestment
programme which, as noted in the Company's interim report, includes an enbloc
and strata sales strategy for The Waterside Macau.

 

Use of Proceeds

 

Subject to all transactions being successfully completed, proceeds arising
from the sales will be used to reduce debt, meet future debt repayments and
for general working capital purposes.

 

 

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 largest 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: +852 2292 6789

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

 

Corporate Broker

Liberum Capital

Darren Vickers / Owen Matthews

Tel: +44 20 3100 2234

 

Company Secretary & Administrator

Ocorian Administration (Guernsey) Limited

Kevin Smith

Tel: +44 14 8174 2742

 

 

- Ends -

 

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