RNS Number : 4497O
Macau Property Opportunities Fund
30 June 2010
Macau Property Opportunities Fund Limited
("MPO" or the "Company")
First Day of Dealings on Main Market
Macau Property Opportunities Fund Limited is pleased to announce that its ordinary shares have been admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange plc's Main Market for listed securities ("Admission") with effect from 8.00 a.m. today. Trading in the Company's ordinary shares on AIM has been cancelled simultaneously.
At admission there were 105,000,000 ordinary shares in issue.
The ticker for the Company's ordinary shares will continue to be MPO.
The prospectus prepared by the Company in connection with the move to the Official List is available on the Company's website at: www.mpofund.com
Since its launch in June 2006, MPO has established a strategically well positioned portfolio with the acquisition of five key properties. The Fund has also enjoyed positive NAV growth to date, with its most recent Adjusted NAV per Ordinary Share standing at US$2.49 as at 31 March 2010.
A move to the Main Market is expected to improve the liquidity in MPO's ordinary shares, widening the pool of potential investors in the Company. The move is also expected to raise the Fund's profile in the financial and investor community. In the longer term and subject to meeting certain liquidity conditions, a move to the Main Market could also lead to eligibility for inclusion in the FTSE All-Share Index.
David Hinde, Chairman of MPO, said: "AIM has served as a good platform to support MPO's development to date. We believe the transfer of our listing to the Main Market at this time is an appropriate and strategic move which will broaden our investor base and enhance the Fund's profile and positions us well for the next phase of growth."
About Macau Property Opportunities Fund
Macau Property Opportunities Fund Limited is a closed-end investment fund registered in Guernsey. Its shares began trading on AIM in June 2006, when it raised £105 million in an institutional placing, before moving to the Main Market of the London Stock Exchange in June 2010. The Company's investment policy is to provide shareholders with an attractive total return through investing in property opportunities in one of the world's fastest growing and most dynamic regions - Macau and the Western Pearl River Delta of Southern China.
The Fund is managed by Sniper Capital Limited, an independent investment manager that specialises in property investment opportunities in niche, undervalued and developing markets.
For further information:
Sponsor and Broker
Collins Stewart Europe Limited
David Yovichic / Dominic Waters
Tel: +44 20 7523 8000
Sniper Capital Limited
Daisy Tang, Corporate & Investor Communications
Tel: +852 2292 6700
Simon Hockridge / Andrew Jaques
Tel: +44 20 7357 9477
Company Secretary & Administrator
Heritage International Fund Managers Limited
Mark Huntley / Laurence McNairn
Tel: +44 1481 716000
Bloomberg: MPO LN
Collins Stewart Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company and no-one else in connection with the Migration and the contents of this announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Collins Stewart Europe Limited nor for providing advice in connection with the Migration or the contents of this announcement or any other matter referred to herein. Collins Stewart Europe Limited is not responsible for the contents of this announcement. This does not exclude or limit any responsibilities which Collins Stewart Europe Limited may have under the Financial Services and Markets Act 2000 or the regulatory regime established thereunder.
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The company news service from the London Stock Exchange