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11 Jun 2020 07:00
FOR IMMEDIATE RELEASE
11 June 2020
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Net Asset Value and Portfolio Update
To: SFS, London Stock Exchange and Bermuda Stock Exchange
May 2020 Net Asset Values
Markel CATCo Investment Management Ltd., the Company's Investment Manager, announces the unaudited Net Asset Value of the Company's Ordinary Shares and C Shares of $0.2665 and $0.5150 respectively, as at the close of business on 31 May 2020.
Portfolio Update
The Investment Manager advises of a further release of Side Pocket Investment ("SPI") capital of approximately $15.8 million which is expected to be paid to the Company during July 2020, and which the Company intends to use to carry out a third compulsory partial redemption of its issued share capital. The Company will issue further details of the expected timetable for this third compulsory redemption shortly.
The breakdown of the aforementioned SPI releases is as follows:
SPI Year | Ord Shares | % of SPI |
| C Shares | % of SPI |
2016 SPI | $879,965 | 11.6% |
| - | - |
2018 SPI | $588,617 | 3.1% |
| $3,267,337 | 3.1% |
2019 SPI | $2,157,917 | 11.2% |
| $8,900,507 | 11.2% |
TOTAL | $3,626,499 | - |
| $12,167,844 | - |
This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.
For further information: |
|
Markel CATCo Investment Management Ltd.
Judith Wynne General Counsel Telephone: +1 441 493 9005 Email: judith.wynne@markelcatco.com
Mark Way Chief of Investor Marketing Telephone: +1 441 493 9001 Email: mark.way@markelcatco.com | Numis Securities Limited
David Benda / Hugh Jonathan Telephone: +44 (0) 20 7260 1000 |
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