TIDMCAT
RNS Number : 5640W
CATCo Reinsurance Opps Fund Ltd
15 November 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE
REPUBLIC OF IRELAND, JAPAN, ANY MEMBER STATE OF THE EUROPEAN
ECONOMIC AREA (OTHER THAN THE UK) OR ANY JURISDICTION IN WHICH THE
SAME WOULD BE UNLAWFUL.
This announcement is an advertisement and not a prospectus. This
announcement does not constitute or form part of, and should not be
construed as, any offer for sale or subscription of, or
solicitation of any offer to buy or subscribe for, any shares in
CATCo Reinsurance Opportunities Fund Ltd. (the "Company") or
securities in any other entity, in any jurisdiction, including the
United States, nor shall it, or any part of it, or the fact of its
distribution, form the basis of, or be relied on in connection
with, any contract or investment decision whatsoever, in any
jurisdiction. This announcement does not constitute a
recommendation regarding any securities. Any investment decision
must be made exclusively on the basis of the prospectus published
by the Company on 7 November 2017 (the "Prospectus") and any
supplement or supplements thereto.
15 November 2017
CATCo Reinsurance Opportunities Fund Ltd.
The Company is pleased to announce that in response to investor
demand for the current C Share issuance and following feedback from
both current and new investors the Board has taken the decision to
enhance the current dividend policy.
The Company currently targets an annual dividend of an amount
equal to LIBOR plus 5 per cent. of the Net Asset Value per share at
the end of each fiscal year (the "Annual Dividend"). In addition,
the Board now intends to consider paying an additional special
dividend (the "Special Dividend").
Both the Ordinary Shares and the C Shares will be eligible for
the Special Dividend. The Special Dividend is expected to be an
amount equal to the level of accumulated profits of each shares
class in the relevant fiscal year in excess of LIBOR plus 7.5%.
In line with the Annual Dividend, the payment of a Special
Dividend is at the Board's discretion.
A supplementary prospectus relating to the above information
will be published in due course and an electronic version will be
available on the Company's website at
http://www.catcoreoppsfund.com and on the National Storage
Mechanism website at http://www.morningstar.co.uk/uk/NSM.
Enquiries:
Markel CATCo Investment Management Ltd.
Judith Wynne, General Counsel
Mobile: +44 (0) 7986 205364
Telephone: +1 (441) 493 9005
Email: judith.wynne@markelcatco.com
Mark Way, Chief Operating Officer
Mobile: +1 (441) 504 9178
Telephone: +1 (441) 493 9001
Email: mark.way@markelcatco.com
Numis Securities Limited
Hugh Jonathan / Chris Gook
Telephone: +44 (0) 20 7260 1000
Important notices and disclaimers
This Announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
The content of this announcement, which has been prepared by and
is the sole responsibility of the Company, has been approved by
Numis Securities Limited ("Numis"), which is authorised and
regulated by the Financial Conduct Authority, solely for the
purposes of section 21(2)(b) of the Financial Services and Markets
Act 2000 (as amended).
Numis, which is authorised and regulated by the Financial
Conduct Authority, is acting only for the Company in connection
with the matters described in this announcement and is not acting
for or advising any other person, or treating any other person as
its client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of Numis or
advice to any other person in relation to the matters contained
herein.
The shares of the Company have not been, nor will they be,
registered under the US Securities Act of 1933, as amended, or with
any securities regulatory authority of any state or other
jurisdiction of the United States or under the applicable
securities laws of Australia, Canada, Japan, New Zealand or South
Africa. Further, the Company has not been and will not be
registered under the US Investment Company Act of 1940, as amended.
Subject to certain exceptions, the shares of the Company may not be
offered or sold in any Member State of the European Economic Area
(other than the United Kingdom), the United States of America,
Canada, Australia, Japan, New Zealand or South Africa or to or for
the account or benefit of any national, resident or citizen of any
Member State of the European Economic Area (other than the United
Kingdom), Canada, Australia, Japan, New Zealand or South Africa or
any person located in the United States. The Initial Placing and
Offer and the Placing Programme and the distribution of this
announcement in other jurisdictions may be restricted by law and
the persons into whose possession this announcement comes should
inform themselves about, and observe, any such restrictions.
This announcement may include "forward-looking statements". All
statements other than statements of historical facts included in
this announcement, including, without limitation, those regarding
the Company's financial position, strategy, plans, proposed
acquisitions and objectives are forward-looking statements.
Forward-looking statements are subject to risks and uncertainties
and accordingly the Company's actual future financial results and
operational performance may differ materially from the results and
performance expressed in, or implied by, the statements. These
forward-looking statements speak only as at the date of this
announcement. The Company, Markel CATCo Investment Management
Limited and Numis expressly disclaim any obligation or undertaking
to update or revise any forward-looking statements contained herein
to reflect actual results or any change in the assumptions,
conditions or circumstances on which any such statements are based
unless required to do so by the Financial Services and Markets Act
2000, the Prospectus Rules of the Financial Conduct Authority or
other applicable laws, regulations or rules.
Acquiring shares to which this announcement relates may expose
an investor to a significant risk of losing all of the amount
invested. Persons considering making such an investment should
consult an authorised person specialising in advising on such
investments and should ensure that they fully understand and accept
the risks which are set out in the published Prospectus. This
announcement does not constitute a recommendation concerning the
Initial Placing and Offer or the Placing Programme and no
information in this announcement should be construed as providing
financial, investment or other professional advice. The value of
the Ordinary and/or C Shares can decrease as well as increase. Past
performance or information in this announcement or any of the
documents relating to the Initial Placing and Offer and/or the
Placing Programme cannot be relied upon as a guide to future
performance. The returns set out in this announcement are targets
only. There is no guarantee that any returns set out in this
announcement can be achieved or can be continued if achieved, nor
that the Company will make any distributions whatsoever.
Apart from the responsibilities and liabilities, if any, which
may be imposed by the Financial Services and Markets Act 2000 or
the regulatory regime established thereunder, none of the Company,
Markel CATCo Investment Management Limited or Numis nor any of
their respective affiliates accepts any responsibility or liability
whatsoever for or makes any representation or warranty, express or
implied, as to this announcement, including the truth, accuracy or
completeness of the information in this announcement (or whether
any information has been omitted from the announcement) or any
other information relating to the Company, its subsidiaries or
associated companies, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or for
any loss howsoever arising from any use of the announcement or its
contents or otherwise arising in connection therewith. The Company,
Markel CATCo Investment Management Limited and Numis and their
respective affiliates accordingly disclaim all and any liability
whether arising in tort, contract or otherwise which they might
otherwise have in respect of this announcement or its contents or
otherwise arising in connection therewith.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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