Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAfrica Opp. Regulatory News (AOF)

Share Price Information for Africa Opp. (AOF)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.65
Bid: 0.60
Ask: 0.70
Change: 0.00 (0.00%)
Spread: 0.10 (16.667%)
Open: 0.64
High: 0.6625
Low: 0.555
Prev. Close: 0.65
AOF Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Mandatory Redemption of Shares

9 Mar 2020 17:30

RNS Number : 5081F
Africa Opportunity Fund Limited
09 March 2020
 

9 March 2020

 

Africa Opportunities Fund Limited

Mandatory Redemption of Shares

 

 

· REDEMPTION DATE 16 MARCH 2020

 

· AOF WILL RETURN $18.5 MILLION TO SHAREHOLDERS

 

· REPRESENTS 40.45% OF ORDINARY SHAREHOLDER NET ASSET VALUE AT 29 fEBRUARY 2020

 

* * *

 

The Board of Directors of Africa Opportunity Fund Limited ("AOF" or the "Company") is pleased to announce AOF's initial capital distribution in respect of the Company's Ordinary Shares of US$0.01 each (a "Mandatory Redemption").

 

AOF has benefitted from a strong level of realisations from its underlying portfolio and the Company has resolved to return a total of $18.5 million to AOF Ordinary Shareholders.

 

The $18.5 million capital return (the equivalent of approximately 30,278,230 Ordinary Shares, or 40.45% of Ordinary Shareholder NAV) will be by way of a pro rata compulsory redemption of Ordinary Shares at a price equal to the prevailing NAV per Ordinary Share of $0.611 as at 29 February 2020 (being the most recent monthly NAV per Ordinary Share available as of the date of this announcement) for Ordinary Shareholders on the register of members as at close of business on 9 March 2020 ("Record Date"). Unless circumstances require otherwise, this NAV will form the NAV per Ordinary Share as of the date of redemption.

 

Payments of redemption proceeds are expected to be effected either through Euroclear or Clearstream (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) on or around 19 March 2020. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 19 March 2020.

 

The Company currently has 74,849,606 Ordinary Shares in issue. All of the Ordinary Shares redeemed on the redemption date will be cancelled and any fractions of shares will be rounded down to the nearest whole share.

 

The Ordinary Shares will be disabled in Euroclear or Clearstream on the Record Date and the existing ISIN number KYG012921048 (the "Old ISIN") will expire. A new ISIN number KYG012921204 (the "New ISIN") in respect of the remaining Ordinary Shares which have not been redeemed will be enabled and available for transactions on 17 March 2020. For the period up to and including the Record date, Ordinary Shares will be traded under the Old ISIN and as such, a purchaser of such shares may have a market claim for the redemption proceeds following the activation of the New ISIN. Euroclear or Clearstream will automatically transfer any open transactions as at the redemption date to the New ISIN.

 

DIRECTOR'S INTERESTS

 

As of 9 March 2020, Robert Knapp and Myma Belo-Osagie Directors of the Company, owned 12,083,358 and 100,000 Ordinary Shares, respectively. As a result of the Mandatory Redemption described above, Robert Knapp and Myma Belo-Osagie are expected, immediately following the redemption date, to hold approximately 7,195,387 and 59,548 Ordinary Shares, respectively.

 

 

 

* * *

 

For more information please contact:

 

Africa Opportunity Fund Limited

Francis Daniels Tel: +2711 684 1528

 

Liberum (Corporate Broker) Tel: +44 20 3100 2000

Gillian Martin

Owen Matthews

 

For more information about AOF, see www.africaopportunityfund.com

 

LEI: 213800R1UVN1T8YXS179

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCJLMRTMTTMBFM
Date   Source Headline
16th Aug 20222:49 pmRNSNet Asset Value(s)
10th Aug 20224:55 pmRNSNet Asset Value(s)
5th Aug 20228:14 amRNSNet Asset Value(s)
26th Jul 20224:59 pmRNSNet Asset Value(s)
20th Jul 20223:02 pmRNSNet Asset Value(s)
14th Jul 20223:56 pmRNSMonthly Report
13th Jul 20228:25 amRNSNet Asset Value(s)
11th Jul 20222:45 pmRNSNet Asset Value(s)
7th Jul 20227:00 amRNSCompletion of Mandatory Redemption
29th Jun 20224:31 pmRNSResult of EGM
29th Jun 20224:30 pmRNSResult of AGM
28th Jun 20225:03 pmRNSNet Asset Value(s)
28th Jun 20224:43 pmRNSMandatory Redemption of Shares
23rd Jun 20225:30 pmRNSNet Asset Value(s)
17th Jun 20223:31 pmRNSMonthly Report
15th Jun 20229:06 amRNSNet Asset Value(s)
13th Jun 20224:35 pmRNSPublication of Circular and notice of GM
13th Jun 20224:30 pmRNSNotice of AGM
9th Jun 20225:13 pmRNSNet Asset Value(s)
6th Jun 20225:25 pmRNSNet Asset Value(s)
1st Jun 20224:48 pmRNSNet Asset Value(s)
24th May 20225:31 pmRNSNet Asset Value(s)
18th May 20222:36 pmRNSMonthly Report
18th May 202210:53 amRNSNet Asset Value(s)
10th May 20224:43 pmRNSNet Asset Value(s)
5th May 20225:48 pmRNSNet Asset Value(s)
3rd May 20227:00 amRNSAnnual Financial Report
28th Apr 202211:35 amRNSNet Asset Value(s)
20th Apr 20225:12 pmRNSNet Asset Value(s)
19th Apr 20223:39 pmRNSNet Asset Value(s)
13th Apr 20223:42 pmRNSMonthly Report
8th Apr 202211:01 amRNSNet Asset Value(s)
30th Mar 20228:42 amRNSNet Asset Value(s)
23rd Mar 20223:35 pmRNSNet Asset Value(s)
17th Mar 20224:06 pmRNSNet Asset Value(s)
14th Mar 20228:31 amRNSMonthly Report
9th Mar 20228:30 amRNSNet Asset Value(s)
3rd Mar 20225:07 pmRNSNet Asset Value(s)
23rd Feb 20222:22 pmRNSNet Asset Value(s)
16th Feb 20225:35 pmRNSMonthly Report
16th Feb 20228:38 amRNSNet Asset Value(s)
9th Feb 20229:49 amRNSNet Asset Value(s)
3rd Feb 20228:24 amRNSNet Asset Value(s)
26th Jan 20228:58 amRNSNet Asset Value(s)
21st Jan 20222:45 pmRNSMonthly Report
19th Jan 20222:35 pmRNSNet Asset Value(s)
13th Jan 20228:44 amRNSNet Asset Value(s)
7th Jan 20227:00 amRNSNet Asset Value(s)
30th Dec 20213:26 pmRNSNet Asset Value(s)
22nd Dec 20214:20 pmRNSNet Asset Value(s)

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.