REG-Weiss Korea Opportunity Fund: Compulsory Redemption of Shares

Weiss Korea Opportunity FundAnnouncement

25/06/2025 07:02

 

Weiss Korea Opportunity Fund Ltd.

(“WKOF” or the “Company”)
(a closed-ended investment scheme incorporated with limited liability
under the laws of Guernsey with registration number 56535)
LEI Number: 213800GXKGJVWN3BF511

 

COMPULSORY REDEMPTION OF SHARES

 

Further to the resolutions passed by the Company's shareholders at its
Extraordinary General Meeting on 14 April 2025 to approve the Managed
Wind-down of the Company and enable compulsory redemptions of the Company's
ordinary shares ("Shares"), the Company today announces that it intends to
return GBP70,000,000 by way of a compulsory redemption of Shares (the
"Redemption") after close of business on 9 July 2025 (the "Redemption Date").
The Redemption will be effected at a price per Share equal to the prevailing
Net Asset Value per Share as at the Redemption Date. 

The number of Shares to be redeemed will be redeemed pro rata to holdings of
Shares on the Company’s register of members at close of business on the
Redemption Date and will be paid to Shareholders in sterling. As at today's
date, the Company has 69,265,582 Shares in issue with voting rights and
11,752,246 Shares held in treasury. For illustrative purposes only, if the
redemption price was equal to the prevailing Net Asset Value per Share as at
the date of this announcement, being 163.93 pence per Share, a holder of
100,000 Shares would have 61,648 Shares redeemed, and receive GBP101,059.57 in
cash.

Fractions of Shares will not be redeemed and so the number of Shares to be
compulsorily redeemed from each Shareholder will be rounded down to the
nearest whole number of Shares. Final calculations of the number of Shares to
be redeemed and confirmation of the redemption price will be announced shortly
after the Redemption Date.

Payments of redemption monies are expected to be effected either through CREST
(in the case of Shares held in uncertificated form) or by cheque (in the case
of Shares held in certificated form) on 23 July 2025, or as soon as
practicable thereafter. Share certificates currently in issue will be
superseded by new share certificates for the balance of the relevant
shareholdings in the Company and will be distributed to certificated
Shareholders with the cheque in respect of their redemption monies.

All Shares that are redeemed will be cancelled. Accordingly, once redeemed,
such Shares will be incapable of transfer by Shareholders or reissue by the
Company.

The Shares will be disabled in CREST after close of business on the Redemption
Date and the existing ISIN number, GG00B933LL68, (the "Old ISIN") will expire.

The new ISIN number, GG00BT26K977, (the "New ISIN") in respect of the
remaining Shares, which will not have been redeemed, will be enabled and
available for transactions after 8.00 a.m. on 10 July 2025.

Up to and including the Redemption Date, the Shares will continue to be traded
under the Old ISIN and as such, a purchaser of such Shares who was not on the
register as at the record date for the Redemption would have a market claim
for a proportion of the redemption proceeds following the activation of the
New ISIN. CREST will automatically transfer any open transactions as at the
Redemption Date to the New ISIN.

Shareholders should note that the Board retains absolute discretion as to the
execution, extent and timing of any further redemptions.

Expected timetable for Redemption

The anticipated dates and sequence of events relating to the implementation of
the Redemption are set out below:

 Redemption Record Date                                                                                        Close of business on 9 July 2025        
 Redemption Date and expiry of Old ISIN                                                                        After close of business on 9 July 2025  
 Announcement of completion of the Redemption, redemption price and total voting rights                        10 July 2025                            
 Redemption Ex Date                                                                                            10 July 2025                            
 New ISIN enabled                                                                                              10 July 2025                            
 Cheques in respect of redemption monies and new share certificates to be posted to certificated Shareholders  23 July 2025                            
 CREST Accounts credited in respect of redemption monies to be paid to uncertificated shareholders             23 July 2025                            

 

Capitalised terms used but not defined in this announcement will have the same
meaning as set out in the circular of the Company published on 19 March 2025.

 New ISIN  GG00BT26K977  
 SEDOL     BT26K97       
 TIDM      WKOF          

 

For further information, please contact:

 

 Weiss Asset Management LP (Investment Manager) Andrew Daly Eric Ruiz Rachel Lehman                                                                                    +1 (617) 778-7780     
                                                                                                                                                                                             
 Singer Capital Markets Advisory LLP James Maxwell, James Fischer, Anthony Debson, Samed Ethemi (Corporate Finance) Alan Geeves, James Waterlow, Sam Greatrex (Sales)  +44 (0) 20 7496 3000  
 Northern Trust International Fund Administration services (guernsey) Limited                                                                                          +44 (0) 1481 745001   
  Company Secretary                                                                                                                                                                          
                                                                                                                                                                                             
                                                                                                                                                                                             

A copy of this announcement will be available on the Company's website
at https://www. https://www.weisskoreaopportunityfund.com. Neither the
content of the Company's website, nor the content on any website accessible
from hyperlinks on its website, is incorporated into, or forms part of, this
announcement nor, unless previously published by means of a recognised
information service, should any such content be relied upon in reaching a
decision as to whether or not to acquire, continue to hold, or dispose of,
securities in the Company.

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