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5 Sep 2018 17:18
Third Point Offshore Investors Ltd - Redemption of SharesThird Point Offshore Investors Ltd - Redemption of Shares
PR Newswire
London, September 5
Third Point Offshore Investors Limited(a closed-ended investment company incorporated in Guernsey with registration number 47161)LEI Number: 549300WXTCG65AQ7V644 Renewal Date- 20/12/2018(The “Company” or “TPOIL”)
5 SEPTEMBER 2018
REDEMPTION OF SHARES
Further to the Extraordinary General Meeting of the Company held on 31 August 2018, the Board of Third Point Offshore Investors is pleased to announce that the Company has redeemed 2,500,000 shares held by Third Point Offshore Fund, Ltd. (the “Master Fund”). The shares redeemed represent 5.0% of the Company’s outstanding shares.
The shares were redeemed at $15.80 per share. The redemption of the shares held by the Master Fund is expected to result in an estimated increase in the Company’s NAV per share of approximately 19 cents. The effect of the redemption of the shares will be reflected in the Company’s NAV per share as at 31 August 2018.
Following the redemption of the shares, the Company’s issued share capital consists of the following:
47,504,787 US Dollar Ordinary Shares with one voting right per share. 31,669,953 US Dollar B Shares with one voting right per share and no rights to distribution of profitsThe total number of voting rights in the Company is therefore 79,174,740.
As announced on 2 May 2018, the Board intends, dependent on the Master Fund’s performance, to redeem the remaining TPOIL shares held by the Master Fund in 2019 or, if necessary, thereafter. Furthermore, the Board has received an undertaking from the Master Fund that it will not dispose of any TPOIL shares it holds while awaiting cancellation unless any such disposal is priced at or above the Company’s prevailing NAV per share. The Board will separately continue to monitor the Company’s rating following the proposed Premium Listing and may, at its discretion, engage opportunistically in future share repurchases by causing the Company to purchase such shares in the open market and cancel them upon such purchase.
Enquiries:
Company Website: www.thirdpointoffshore.comNorthern Trust International Fund Administration Services (Guernsey) LimitedThe Company SecretaryTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QLTel: 01481 745001END