Return of Capital

RNS Number : 8480I

Macau Property Opportunities Fund

21 June 2011

 



21 June 2011

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

Return of Capital

The Board of Directors of Macau Property Opportunities Fund Limited confirms that the special resolution proposed at the Extraordinary General Meeting of the Company held today, 21 June 2011, was duly passed.

In accordance with the Circular to Shareholders dated 25 May 2011 setting out the terms of the proposal to return capital in the amount of US$17.9 million ("the Circular"), Shareholders on the register as at 5.30 p.m. today, 21 June 2011, will receive a bonus issue of a newly created class of shares, B Shares; capital will then be returned to Shareholders through a redemption of the B Shares, the payment of a dividend in respect of the B Shares or a combination of both.

The final sterling amount of the Return of Capital is £11,058,939.82, which has been calculated by reference to the US dollar/Sterling Bloomberg Cross Rate of 1.6186 as at the close of business on 20 June 2011. This equates to 10.75772356 pence per Ordinary Share.

Shareholders wishing to receive some or all of their return of capital in the form of a dividend should, if they have not done so already, complete the Dividend Election Form with which they have been provided and return it to the Company's registrars or, if they hold their Ordinary Shares in uncertificated form, send the appropriate USE instruction as detailed in the Circular, in either case by no later than 1.00 p.m. on 28 June 2011.

In accordance with the Circular, it is expected that monies will be paid to Shareholders on or around 12 July 2011. Payments made to Shareholders will be denominated in sterling.

-  Ends -

A copy of the Resolution will shortly be submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do. Defined terms used in this announcement shall have the same meaning as ascribed to them in the Circular.

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, development and redevelopment opportunities in niche, undervalued and developing markets.

For further information:

Website: www.mpofund.com

Corporate Broker

Collins Stewart Europe Limited

David Yovichic / Dominic Waters

Tel: [phone]

Manager - Investor Contact

Sniper Capital (Hong Kong) Limited

Tel: [phone]

Email: [e-mail]

www.snipercapital.com

Company Secretary & Administrator

Heritage International Fund Managers Limited

Mark Huntley / Laurence McNairn

Tel: [phone]

Public Relations

MHP Communications

Simon Hockridge / Andrew Jaques 

Tel: [phone]

Stock Codes: 

Bloomberg:  MPO LN

Reuters:    MPO.L

 

END

 

 

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