Africa Opportunity Fund Limited Results of Placing (6785E)
11 April 2014 - 4:00PM
UK Regulatory
TIDMAOF
RNS Number : 6785E
Africa Opportunity Fund Limited
11 April 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN OR THE UNITED
STATES OF AMERICA OR TO US PERSONS.
11 April 2014
Africa Opportunity Fund Limited
Results of Placing
The Board of Africa Opportunity Fund Limited (the "Company") is
pleased to announce that, as at the closing of the Placing, it had
received valid applications in respect of 29,200,000 C Shares at a
Placing Price of US$1.00, raising a total of $29.2 million before
the expenses of the Issue.
It is expected that the C Shares will be credited to Euroclear /
Clearstream accounts in uncertificated form as soon as practicable
after 8:00 a.m. on 17 April 2014 and that definitive share
certificates will be dispatched to the relevant Shareholders during
the week commencing 28 April 2014.
Applications have been made to the London Stock Exchange plc
("LSE") for 29,200,000 C Shares to be admitted to trading on the
LSE's Specialist Fund Market ("SFM"). The Company has also
requested that its Ordinary Shares, which are currently admitted to
trading on the LSE's AIM market, be admitted to trading on the SFM
simultaneously. It is expected that such admissions will become
effective and the dealings in both the Ordinary Shares and C Shares
on the SFM will commence at 8:00 a.m. on 17 April 2014.
Cancellation of the admission to trading of the Ordinary Shares on
AIM is scheduled to take place at 8:00 a.m. on the same day.
Myma Belo-Osagie, chair of the Company commented:
"The Board is delighted that the Company has grown by over 55
per cent. through the Placing, and with the support shown to the
Company's investment manager and the Company by existing
shareholders and new investors."
Defined terms used in this announcement shall have the same
meaning as ascribed to them in the prospectus of the Company dated
28 March 2014.
The dates and times specified are subject to change and will be
notified by the Company through a Regulatory Information Service.
All references to times in this announcement are to Greenwich Mean
Time unless otherwise stated.
For further information, please contact:
Africa Opportunity Fund Limited
Robert Knapp Tel: +1 617 449 3127
Africa Opportunity Partners Limited
Francis Daniels Tel: +27 11 684 1528
Edmond de Rothschild Securities (UK) Limited, Placing Agent
& Financial Adviser
William Marle / John Armstrong-Denby Tel: +44 (0)20 7845
5950
Andrew Davies (Sales) Tel: +44 (0)20 7845 5960
Hiroshi Funaki Tel: +44 (0)20 7845 5960
Grant Thornton UK LLP, Nominated Adviser
Philip Secrett Tel: +44 (0)20 7383 5100
David Hignell Tel: +44 (0)20 7383 5100
This announcement has been prepared by the Company for
information purposes only and does not constitute an offer to sell,
or the solicitation of an offer to acquire or subscribe for, the C
Shares in any jurisdiction. Any offer and/or sale of C Shares will
not be registered under the applicable securities laws of the
United States, Australia, Canada, South Africa or Japan. Subject to
certain exceptions, the C Shares may not be offered or sold within
the United States, Australia, Canada, South Africa or Japan or to
any national, resident or citizen of the United States, Australia,
Canada, South Africa or Japan. This announcement does not
constitute any form of financial opinion or recommendation on the
part of the Company or any of its affiliates or advisers and is not
intended to be an offer, or the solicitation of any offer, to buy
or sell any securities in any jurisdiction.
Neither the U.S. Securities and Exchange Commission (the "SEC")
nor any state securities commission has approved or disapproved of
the securities referred to in this announcement or passed upon the
adequacy or accuracy of this announcement. Any representation to
the contrary is a criminal offence in the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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