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CATCo Reinsurance Opportunities Fund – Issue of Equity
Hamilton, Bermuda – May 25, 2017 –In a filing with the Bermuda Stock Exchange CATCo Reinsurance Opportunities Fund Ltd. (the "Company”; Ticker: CAT.BH), announced the issue of equity. The filing stated:
The Company today announces that 35,606,039 Ordinary Shares of US$ 0.0001 each have been issued for cash at US$1.2889 per share, raising gross proceeds of $45.9 million, in order to satisfy demand that cannot be met through the secondary market.
Application has been made for these shares to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange’s Main Market. Trading is expected to commence on 31 May 2017. Upon Admission, the shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. As a result of this share issue, the Company has in issue 391,666,424 Ordinary Shares.
James Keyes, Chairman of the Company, commented: “The Board of CATCo Reinsurance Opportunities Fund Ltd. is delighted to have had such a positive response to this capital raising, which has been significantly over-subscribed. This increases total net assets of the Company through $500 million.”
Ends
For further information:
Judith Wynne
General Counsel
Markel CATCo Investment Management Ltd.
Telephone: +1 441 493 9000
Email: judith.wynne@markelcatco.com
Mark Way
Chief Operating Officer
Markel CATCo Investment Management Ltd.
Telephone: +1 441 493 9000
Email: mark.way@markelcatco.com
Numis Securities Limited
Hugh Jonathan / Chris Gook
Telephone: +44 (0) 20 7260 1000