REG - Macau Prop Opp Fund - Update on Proposed Return of Capital

Macau Property Opportunities FundAnnouncement

08/05/2018 07:05

2018-05-08T06:01:30.713Zreuters.comtag:reuters.com,2018-05-08:newsml_RSH2566Na:13TXT
This file is provided for EAP sample purposes only; it's structure and detail are subject to change, and should not be used as a definitive reference for actual development and processing.2018-05-08T06:01:30.713Z2018-05-08T06:01:30.713Z____UCDP:parsn_lse_10.54.4.69_1.2.37235:2019-06-08T06:01:30.713Z3RSH2566NaREG - Macau Prop Opp Fund  - Update on Proposed Return of CapitalLEGACY: Financials (TRBC)LEGACY: Investment Trusts (TRBC)UK Investment Trusts (TRBC level 5)Closed End Funds (TRBC level 5)Financials (TRBC level 1)Collective Investments (TRBC level 3)Western EuropeUnited KingdomEuropeSuggested SourcesServicesNews AnnouncementsRegulatory Corporate News AnnouncementsCompany NewsEurope daily earnings hits & missesMacau Property Opportunities Fund Ltd








RNS Number : 2566N
Macau Property Opportunities Fund
08 May 2018
 

8 May 2018 
 
 
Macau Property Opportunities Fund Limited
 ("MPO" or the "Company")
 
Update on Proposed Return of Capital
 
Further to the recently announced sale of Senado Square and the receipt of the proceeds of that sale, the Company announces that it is currently working on proposals to enable it to return capital to shareholders expected to be no less than 50 per cent. of the net profits from the sale. The proposals will be designed to facilitate the Company's commitment to realising asset values and making further returns of capital to shareholders following future realisations. All potential divestment options for the Company's remaining assets are continuing to be assessed with the goal of maximising exit values.
The Company, therefore, expects to publish a circular to shareholders in June setting out detailed proposals, with notice to convene an extraordinary meeting of the Company, and will make a further announcement accordingly.
 
 
 
 
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About Macau Property Opportunities Fund
Macau Property Opportunities Fund Limited 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.
Listed on the London Stock Exchange's main market, it is also a constituent stock of the FTSE All-Share and FTSE SmallCap indices.
Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises a mix of prime residential and retail property assets that are valued at US$436.2 million as at 30 September 2017.
The Company is managed by Sniper Capital Limited, an Asia-based property investment manager with an established track record in fund management and investment advisory.
 
 
 
For further information:
Company Registration Number 44813
Website: www.mpofund.com 
 
 
Manager
Sniper Capital Limited
Doris Boo
Tel: +65 6222 1440
Email: doris.boo@snipercapital.com 
 
Corporate Broker
Liberum Capital
Gillian Martin / Louis Davies
Tel: +44 20 3100 2000
 
Company Secretary & Administrator
Estera International Fund Managers (Guernsey) Limited
Kevin Smith
Tel: +44 14 8174 2742
 
Stock Code:
London Stock Exchange: MPO
 
LEI
213800NOAO11OWIMLR72 
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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