Weiss Korea Opportunity Fund - Realisation Opportunity and Publication of Circular
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO CANADA, AUSTRALIA OR JAPAN.
Weiss Korea Opportunity Fund Ltd.
(a closed-ended investment scheme incorporated with limited liability
under the laws of Guernsey with registered number 56535)
Realisation Opportunity and Publication of Circular
When the Company was launched in 2013, it committed to offer Shareholders the opportunity to elect to realise all or a part of their shareholding on or prior to the fourth anniversary of the Company's admission to AIM and, unless it has already been determined that the Company will be wound-up, every two years thereafter. The Company made available its first realisation opportunity in March 2017 and its second and third realisation opportunities in March 2019 and March 2021, respectively. The Company is proposing to make available the fourth realisation opportunity (the "Realisation Opportunity").
The Company is pleased to announce that a circular (the “Circular”) containing the details of the Realisation Opportunity along with the relevant forms of election were posted to Shareholders of the Company today. A copy of the Circular is available on the Company’s website: www.weisskoreaopportunityfund.com.
In addition, the Company is pleased to announce that it intends to declare an interim dividend to all Shareholders in advance of this process.
All of the Directors and personnel associated with the Investment Manager (who collectively own [12.9] per cent. of the Company’s issued share capital as at 10 March 2023, being the latest practicable date prior to the publication of the Circular), intend to continue their investment in the Company and do not intend to participate in the Realisation Opportunity in respect of all or any part of their respective shareholdings.
The expected timetable for the Realisation Opportunity is as follows (all dates are in 2023):
Publication of the Circular 13 March
Record Date for Realisation Opportunity 6.00 p.m. on 17 March
Election Period commences 12 April
Interim dividend declaration date 2 May
Latest time and date for receipt of Forms of Election and 1.00 p.m. on 5 May share certificates from Shareholders who hold their Ordinary Shares in certificated form
Latest time and date for receipt of TTE Instructions from 1.00 p.m. on 5 May Shareholders who hold their Ordinary Shares in uncertificated form
Ex-dividend date for interim dividend 9 May
Record Date for interim dividend 10 May
Announcement of results of Realisation Opportunity prior to or on 12 May
Redesignation of participating Ordinary Shares as Realisation Shares 12 May
Balance share certificates in respect of Ordinary Shares not realised week commencing
despatched by post 22 May
Any changes to the expected timetable set out above will be notified by the Company through a Regulatory Information Services provider. All references to times in this document are to London times.
The Company brings to the attention of Shareholders the non-standard timetable for the interim dividend. The expected ex-dividend date is Tuesday, 9 May 2023 and expected Record Date is Wednesday, 10 May 2023.
This is to align the dates between the close of the Election Period on Friday, 5 May 2023 and the Redesignation Date on Friday, 12 May 2023. Further details relating to the interim dividend will be provided on publication of the Company's results for the twelve months ended 31 December 2022.
Capitalised terms in this announcement, unless otherwise defined, have the same meanings as set out in the Circular.
For further information please contact:
Singer Capital Markets
+44 20 7496 3000
Northern Trust International Fund
+44 1481 745 001