Director/PDMR Shareholding

RNS Number : 0717P

Africa Opportunity Fund Limited

25 August 2017

Africa Opportunity Fund Limited ("the Company")

The Company announces that on 23 August 2017, Robert Knapp, a Non-executive Director of the Company, was issued 1,006,146 ordinary shares of US$0.01 each in the capital of the Company ("Ordinary Shares") and surrendered 911,860 C Class Shares of US$0.10 each in the capital of the Company ("C Class Shares") as a result of the mandatory merger of the Ordinary and C Class Shares. As a result, Robert Knapp holds a beneficial interest in 12,083,358 Ordinary Shares, representing 16.1 per cent. of the Company's entire issued share capital with voting rights attached.

Peter Mombaur, also a Non-executive Director of the Company, was issued with 1,300,357 Ordinary Shares and surrendered 1,178,500 C Class Shares as a result of the mandatory merger of the Ordinary and C Class Shares. As a result, Peter Mombaur holds a beneficial interest in 1,900,957 Ordinary Shares, representing 2.5 per cent. of the Company's entire issued share capital with voting rights attached.

The below notifications, made in accordance with the requirements of article 19.3 of the EU Market Abuse Regulation, provide further details.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Knapp
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Africa Opportunity Fund Limited
b)	LEI	213800R1UVN1T8YXS179
4	Details of the transaction(s): section to be repeated 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 of the financial instrument, type of instrument	Ordinary Shares of US$0.01 each

	Identification code	ISIN: KYG012921048

b)	Nature of the transaction	Mandatory Conversion of C Class Shares to Ordinary Shares
c)	Price(s)/conversion ratio and volume(s)
			C Shares	Conversion Ratio	New Ordinary Shares
			911,860	1.1034	1,006,146
d)	Aggregated information

	- Aggregated volume	Aggregate volume of Ordinary Shares: 1,006,146

	- Price/Conversion Ratio	Conversion Ratio 1.1034

e)	Date of the transaction	23 August 2017
f)	Place of the transaction	London Stock Exchange (XLON)

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter Mombaur
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Africa Opportunity Fund Limited
b)	LEI	213800R1UVN1T8YXS179
4	Details of the transaction(s): section to be repeated 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 of the financial instrument, type of instrument	Ordinary Shares of US$0.01 each

	Identification code	ISIN: KYG012921048

b)	Nature of the transaction	Mandatory Conversion of C Class Shares to Ordinary Shares
c)	Price(s)/conversion ratio and volume(s)
			C Shares	Conversion Ratio	New Ordinary Shares
			1,178,500	1.1034	1,300,357
d)	Aggregated information

	- Aggregated volume	Aggregate volume of Ordinary Shares: 1,300,357

	- Price/Conversion Ratio	Conversion Ratio 1.1034

e)	Date of the transaction	23 August 2017
f)	Place of the transaction	London Stock Exchange (XLON)