Africa Opportunity Fund Limited Completion of Mandatory Redemption (4204A)
24 Maio 2023 - 3:00AM
UK Regulatory
TIDMAOF
RNS Number : 4204A
Africa Opportunity Fund Limited
24 May 2023
24 May 2023
Africa Opportunity Fund Limited
Completion of Mandatory Redemption
PDMR Dealings
The Board of Directors of Africa Opportunity Fund Limited ("AOF"
or the "Company") is pleased to announce that the partial mandatory
redemption of the Company's Ordinary Shares announced on 15 May
2023 has been completed with the redemption of 8,745,683 Ordinary
Shares ("Mandatory Redemption").
On 23 May 2023, AOF redeemed 8,745,683 Ordinary Shares, on a pro
rata basis, at the prevailing NAV per Ordinary Share of $ 0.869 as
at 30 April 2023. Such shares were cancelled automatically
following their redemption.
Fractions of shares produced by the applicable redemption ratios
have not been redeemed and so the number of shares redeemed in
respect of each shareholder has been rounded down to the nearest
whole number of shares.
Payments of redemption proceeds are expected to be effected
either through Euroclear or Clearstream (in the case of shares held
in uncertificated form) or by cheque (in the case of shares held in
certificated form) on or around 31 May 2023 . Any share
certificates for the balance of holdings of shares will also be
despatched to shareholders on or around 31 May 2023.
Following the Mandatory Redemption, the Company has 11,468,907
Ordinary Shares in issue. This figure may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in the Company under the FCA's Disclosure
Guidance and Transparency Rules.
The Ordinary Shares were disabled on the record date ( 23 May
2023) and the ISIN number KYG012922038 (the "Old ISIN") has
expired. The new ISIN number KYG012921535 (the "New ISIN") in
respect of the remaining 11,468,907 Ordinary Shares which have not
been redeemed will be enabled and will be available for
transactions on 24 May 2023.
DIRECTOR'S INTERESTS
As of 23 May 2023 , Robert Knapp and Myma Belo-Osagie, Directors
of the Company, owned 3,263,346 and 27,008 Ordinary Shares,
respectively. As a result of the Mandatory Redemption described
above, Robert Knapp and Myma Belo-Osagie now hold 1,851,485 and
15,324 Ordinary Shares, respectively.
The FCA notifications, made in accordance with the requirements
of the EU Market Abuse Regulation as amended by The Market Abuse
(Amendment) (EU Exit) Regulations 2019, are appended below.
* * *
For more information please contact:
Africa Opportunity Fund Limited
Francis Daniels Tel: +2711 684 1528
Liberum (Corporate Broker) Tel: +44 20 3100 2000
Darren Vickers
Owen Matthews
For more information about AOF, see
www.africaopportunityfund.com
LEI: 213800R1UVN1T8YXS179
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Robert Knapp
--------------------- --------------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------
a) Position/status Non-executive Director
--------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- --------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Africa Opportunity Fund Limited
--------------------- --------------------------------------------------
b) LEI 213800R1UVN1T8YXS179
--------------------- --------------------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description Ordinary shares of $0.01 each ("Ordinary Shares")
of the financial
instrument,
type of instrument ISIN number KYG012921535
Identification
code
--------------------- --------------------------------------------------
b) Nature of Mandatory Redemption of Ordinary Shares
the transaction
--------------------- --------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) $0.869 1,411,861
----------
--------------------- --------------------------------------------------
d) Aggregated N/A - Single Transaction
information
- Aggregated
volume
- Price
--------------------- --------------------------------------------------
e) Date of the 23/05/2023
transaction
--------------------- --------------------------------------------------
f) Place of London Stock Exchange
the transaction
--------------------- --------------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Myma Belo-Osagie
--------------------- --------------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------
a) Position/status Non-executive Director
--------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- --------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Africa Opportunity Fund Limited
--------------------- --------------------------------------------------
b) LEI 213800R1UVN1T8YXS179
--------------------- --------------------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description Ordinary shares of $0.01 each ("Ordinary Shares")
of the financial
instrument,
type of instrument ISIN number KYG012921535
Identification
code
--------------------- --------------------------------------------------
b) Nature of Mandatory Redemption of Ordinary Shares
the transaction
--------------------- --------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) $0.869 11,684
----------
--------------------- --------------------------------------------------
d) Aggregated N/A - Single Transaction
information
- Aggregated
volume
- Price
--------------------- --------------------------------------------------
e) Date of the 23/05/2023
transaction
--------------------- --------------------------------------------------
f) Place of London Stock Exchange
the transaction
--------------------- --------------------------------------------------
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END
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May 24, 2023 02:00 ET (06:00 GMT)
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