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Africa Opportunity announces mandatory redemption of shares

Africa Opportunity announces mandatory redemption of shares – Africa Opportunity (AOF) has announced a mandatory redemption of shares via an initial capital distribution in respect of its ordinary shares of US$0.01 each. The trust has benefited from realisations from its underlying portfolio and has resolved to return a total of $4.5m to AOF ordinary shareholders.

The $4.5m capital return (the equivalent of approximately 4,573,170 ordinary shares, or 18.4% of ordinary shareholder NAV) will be by way of a pro rata compulsory redemption of ordinary shares at a price equal to the prevailing NAV per ordinary share of $0.984 as at 31 May 2022 for shareholders on the register of members as at close of business on 6 July 2022.

Payments of redemption proceeds are expected to be effected either through Euroclear or Clearstream or by cheque on or around 13 July 2022. Any share certificates for the balance of holdings of shares will also be despatched to shareholders on or around 13 July 2022.

All ordinary shares redeemed on the redemption date will be cancelled and any fractions of shares will be rounded down to the nearest whole share.

 AOF : Africa Opportunity announces mandatory redemption of shares

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