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4 October 2019
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Following the receipt by the Company of additional redemption proceeds from its redemption of the Company's Master Fund Shares, the Company now holds in aggregate $25.154 million of redemption proceeds, and has agreed to return $15.924 million in aggregate by way of interim dividend to Ordinary and C Shareholders.
Consequently, the Board of Directors are declaring interim dividends of $0.0127 in respect of each of the Ordinary Shares and $0.0262 in respect of each of the C Shares for the year to 31 December 2019. The record date for these dividends will be 18 October 2019 and therefore the Ordinary Shares and C Shares will go ex-dividend on 17 October 2019. It is expected that these dividends will be paid to shareholders on 1 November 2019.
The Company intends to use the remaining redemption proceeds (less working capital reserves), being $7.972 million in aggregate, to carry out share buybacks in the market commencing after the ex-dividend date referred to above of 17 October 2019.
The Company anticipates receiving additional redemption proceeds as further side pockets held within the Master Fund are released, and will announce the distribution of these proceeds to Ordinary and C Shareholders as and when these redemption proceeds are received by the Company.
The information in this announcement should be read in conjunction with the full text of the Circular issued by CATCo Reinsurance Opportunities Fund Limited, dated 13 August 2019. Capitalised terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information:
Markel CATCo Investment Management Ltd.
Telephone: +1 441 493 9005
Chief of Investor Marketing
Telephone: +1 441 493 9001
Numis Securities Limited
David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260
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