Notice of AGM

RNS Number : 2867U
Macau Property Opportunities Fund
02 December 2021
 

2 December 2021

 

Macau Property Opportunities Fund Limited

 

Notice of Annual General Meeting

 

 

Macau Property Opportunities Fund Limited (the "Company") announces that the Notice of Annual General Meeting ("AGM") will be posted to shareholders today. The AGM will take place on 22 December 2021 at 9.00 a.m. (GMT) 5.00 p.m. (HKT).

 

An electronic copy of the AGM documents and Chairman's Letter will be available at the Company's website at https://mpofund.com/investors/publications/shareholder-documents/ .

 

In addition to the ordinary business being proposed at the AGM, a resolution will be put to shareholders to continue the life of the Company (the "Continuation Resolution") in accordance with the obligation set out in the circular dated 8 June 2018.

 

The Manager has completed a number of extensive exercises to seek investor interest in the en-bloc disposal of the portfolio and during 2021 engaged advisors, Hodes Weill, to reach out to an even wider global investor audience. Feedback received concluded that such a sale would only be possible at a significant discount on the valuation. The current market environment also no longer favours an en-bloc disposal of The Waterside to institutional investors, but it does create opportunities for strata unit sales of individual units at smaller lump sum values to smaller investors and individuals.

 

The Board recommends that shareholders vote in favour of the Continuation Resolution in order to allow the opportunity to dispose of the remaining Company assets on a strata title basis in an orderly way. It is inevitable that returns from sales of properties would be significantly lower if the Company was forced to sell as a result of discontinuation. It is the Board's view that it is therefore commercially sensible for the Company to continue.

 

 

Notes

 

 

A copy of the Notice and the Form of Proxy has also been filed at the National Storage Mechanism web-site at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism .

 

About Macau Property Opportunities Fund

Premium listed on the London Stock Exchange, Macau Property Opportunities Fund Limited is a closed-end investment company registered in Guernsey and is the only quoted property fund dedicated to investing in Macau, the world's largest gaming market and the only city in China where gaming is legalised.

 

Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises prime residential property assets.

 

The Company is managed by Sniper Capital Limited, an Asia based property investment manager with an established track record in fund management and investment advisory.

 

Stock Code

London Stock Exchange: MPO

 

LEI

213800NOAO11OWIMLR72

 

For further information:

Investor Relations

Sniper Capital Limited

Tel: +65 6222 1440

info@snipercapital.com

www.snipercapital.com

 

Corporate Broker

Liberum Capital

Darren Vickers / Owen Matthews

Tel: +44 20 3100 2000

 

Company Secretary & Administrator

Ocorian Administration (Guernsey) Limited

Kevin Smith

Tel: +44 14 8174 2742

 

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