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28 April 2022
Update on 2022 Exchange Facility
Third Point Investors Limited (“TPIL” or the “Company”) is pleased to announce the final results of its 2022 exchange facility (the “Exchange Facility”), whereby eligible investors had the opportunity to elect to convert ordinary shares of TPIL (“TPIL Shares”) into shares of Third Point’s flagship Cayman Fund (“Master Fund Shares”) at a 2 per cent. discount to NAV per TPIL Share.
Based on the final NAV per TPIL share of $28.06 as at 31 March 2022, approximately 44% of the TPIL Shares that were subject to valid exchange requests have been exchanged into Master Fund Shares. As such, the final number of TPIL Shares exchanged was 2,672,838.
The Company’s registrar had previously returned from escrow approximately 50% of TPIL Shares to validly electing shareholders, and will as soon as is practicable return the remaining 6%.
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Notes to Editors
About Third Point Investors Limited
Third Point Investors Limited (LSE: TPOU) was listed on the London Stock Exchange in 2007 and is a feeder fund that invests in the Third Point Offshore Fund (the Master Fund), offering investors a unique opportunity to gain direct exposure to founder Daniel S. Loeb’s investment strategy. The Master Fund employs an event-driven, opportunistic strategy to invest globally across the capital structure and in diversified asset classes to optimize risk-reward through a market cycle. TPIL’s portfolio is 100% aligned with the Master Fund, which is Third Point’s largest investment strategy. TPIL’s assets under management are currently $900 million.
About Third Point LLC
Third Point LLC is an institutional investment manager that actively engages with companies across their lifecycle, using dynamic asset allocation and an ethos of continuous learning to drive long-term shareholder return. Led by Daniel S. Loeb since its inception in 1995, the Firm has a 36-person investment team, a robust quantitative data and analytics team, and a deep, tenured business team. As of 31 March 2022, Third Point manages approximately $16.0 billion in assets for sovereign wealth funds, endowments, foundations, corporate & public pensions, high-net-worth individuals, and employees.