Africa Opportunity Fund Limited Net Asset Value (8642J)
December 07 2018 - 9:47AM
UK Regulatory
TIDMAOF
RNS Number : 8642J
Africa Opportunity Fund Limited
07 December 2018
7 December 2018
Africa Opportunity Fund Limited (the "Company")
Monthly Estimate
Net Asset Value - Ordinary Shares
Africa Opportunity Fund Limited (SFS: AOF) announces that as at
close of business on 30 November 2018, its estimated net asset
value per ordinary share was US$0.700. The decline from $0.782 on
23 November to US$0.700 is due to a change in the valuation
criteria for the investments of AOF listed on the Zimbabwe Stock
Exchange. In the absence of that change, AOF's net asset value on
30 November 2018 would have been $0.780. The AOF board took note of
rising economic uncertainties, and signs of sovereign stress, in
Zimbabwe, especially since October 2018, manifest, for example, in
lengthening queues for the foreign exchange remittances, and a
heightened volatility in share prices. It decided to apply a
transparent discount factor to the market values of its listed
Zimbabwean holdings, otherwise known as the Old Mutual Implied
Rate. That rate is the ratio of 1 ordinary share of Old Mutual
listed on the Zimbabwe Stock Exchange to the US Dollar price of 1
ordinary share of Old Mutual listed on the London Stock Exchange on
the same day.
For further information please contact:
Africa Opportunity Fund Limited
Francis Daniels Tel: +2711 684 1528
Liberum (Corporate Broker)
Gillian Martin
Christopher Britton Tel: +44 20 3100 2000
Corporate / Company Communications
Should shareholders have any queries concerning the activities
of the Company, these should be directed to Gillian Martin or Owen
Matthews at Liberum Capital Limited (the Company's Corporate
Broker) at the number listed above.
For more information about AOF, see
www.africaopportunityfund.com
Prior to its release, this announcement contained inside
information within the meaning of Article 7(1) of the EU Market
Abuse Regulation.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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