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8 Aug 2012 07:00
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Conversion of C Shares
To: SFM, London Stock Exchange and the Bermuda Stock Exchange | Date: 8 August 2012 |
The Board wishes to announce that the CATCo Diversified Fund in which the Company invests has closed its side pocket associated with the NZ and Japan Exposures by way of the compulsory redemption of the shares issued in respect of such side pocket, including those held by the Company, on 1 August 2012. As described in the Prospectus, this triggers the Conversion of C Shares into Ordinary Shares.
In accordance with the terms of the C Shares, the Calculation Time for the conversion of C Shares into Ordinary Shares is today, 8 August 2012 and, as a result, the conversion will be made on the basis of the respective net asset values of the C Shares and Ordinary Shares as at close of business today.
Expected timetable
Conversion Ratio announced | 10 August 2012
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Record date for Conversion and C Share register closes | 10 August 2012
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Dealings in new Ordinary Shares commence | 13 August 2012
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Crediting of CREST accounts with new Ordinary Shares | 13 August 2012
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Share certificates in respect of new Ordinary Shares despatched | Week commencing 13 August 2012
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Defined words and terms used in this announcement shall have the same meaning as ascribed to them in the Company's prospectus dated 18 May 2012 (the "Prospectus"). Further details of the conversion and rights attaching to the C Shares are set out in the Prospectus.
-Ends-
For further information, please contact:
Jason Bibb, Director/Michael Toyer, Head of Investment Operations
CATCo Investment Management Ltd
Telephone: +1 441 531 2227
Email: jason.bibb@catcoim.com
Email: michael.toyer@catcoim.com
David Benda / Hugh Jonathan
Numis Securities Limited
Telephone: +44 (0)20 7260 1000
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