Last checked at 20 Mar 2019 07:00
Weiss Korea Opportunity Fund - Realisation Opportunity and Publication of CircularWeiss Korea Opportunity Fund - Realisation Opportunity and Publication of Circular
PR Newswire
London, March 19
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO CANADA, AUSTRALIA OR JAPAN.
Weiss Korea Opportunity Fund Ltd.("the Company")
(a closed-ended investment scheme incorporated with limited liabilityunder the laws of Guernsey with registered number 56535)
LEI 213800GXKGJVWN3BF511
Realisation Opportunity and Publication of Circular
When the Company was launched in 2013 it committed to offer Shareholders the opportunity to elect to realise all or a part of their shareholding on or prior to the fourth anniversary of the Company's admission to AIM and, unless it has already been determined that the Company will be wound-up, every two years thereafter. The Admission Document, published on 8 May 2013, stated that the Realisation Opportunity would be made available to Shareholders not less than 56 days before the sixth anniversary of the Company's admission to AIM.
The Company is pleased to announce that a circular (the “Circular”) containing the details of the Realisation Opportunity along with the relevant forms of election were posted to shareholders of the Company today. A copy of the Circular is available on the Company’s website: www.weisskoreaopportunityfund.com. In addition, the Company is pleased to announce that it intends to declare an interim dividend to all Shareholders in advance of this process.
All of the Directors and personnel associated with the Investment Manager (who collectively own 11.1 per cent. of the Company’s issued share capital as at 18 March 2019 being the latest practicable date prior to the publication of the Circular) intend to continue their investment in the Company and do not intend to participate in the Realisation Opportunity in respect of all or any part of their respective shareholdings.
The expected timetable for the Realisation Opportunity is as follows (all dates are in 2019):
| Publication of the Circular | 20 March |
| Record Date for Realisation Opportunity | 6.00 p.m. on 22 March |
| Election Period commences | 15 April |
| Interim dividend declaration date | 1 May |
| Latest time and date for receipt of Forms of Election and share certificates from Shareholders who hold their Ordinary Shares in certificated form | 1.00 p.m. on 8 May |
| Latest time and date for receipt of TTE Instructions from Shareholders who hold their Ordinary Shares in uncertificated form | 1.00 p.m. on 8 May |
| Ex-dividend date for interim dividend | 9 May |
| Record Date for interim dividend | 10 May |
| Redesignation of participating Ordinary Shares as Realisation Shares | 15 May |
| Announcement of results of Realisation Opportunity | 15 May |
| Definitive share certificates representing Realisation Shares and balance certificates for Ordinary Shares despatched by post | week commencing 20 May |
Any changes to the expected timetable set out above will be notified by the Company through a Regulatory Information Services provider. All references to times in this document are to London times.
Capitalised terms in this announcement, unless otherwise defined, have the same meanings as set out in the Circular.
For further information please contact:
| N+1 Singer James Maxwell/Justin McKeegan/Harry Mills – Nominated Adviser James Waterlow – Sales | +44 20 7496 3000 |
| Northern Trust International Fund Administration Services (Guernsey) Limited Sam Walden | +44 1481 745 385 |
Website
www.weisskoreaopportunityfund.com