Director/PDMR Shareholding

1.

Details of PDMR/person closely associated with them ('PCA')

a)

Name

Alastair Barbour

b)

Position/status

Director

c)

Initial notification/

amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

CATCo Reinsurance Opportunities Fund Ltd.

b)

LEI

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transaction(s) has been conducted

a)

Description of the financial instrument

Ordinary Shares

ISIN: BMG1961Q2095

b)

Nature of the transaction

Purchase

c)

Price(s) and

volume(s)

d)

Aggregated information

Aggregated volume

Price

Total

13,000

£0.953

£12,389.00

e)

Date of the transaction

2016-08-12

f)

Place of the transaction

London Stock Exchange

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transaction(s) has been conducted

a)

Description of the financial instrument

Ordinary Shares

ISIN: BMG1961Q2095

b)

Nature of the transaction

Sale

c)

Price(s) and

volume(s)

d)

Aggregated information

Aggregated volume

Price

Total

13,000

£0.95

£12,350.00

e)

Date of the transaction

2016-08-12

f)

Place of the transaction

London Stock Exchange