PAX Pacific Allian.

TIDMPAX

RNS Number : 1112L

Pacific Alliance Asia Opp Fd Ld

23 April 2015

23 April 2015

Pacific Alliance Asia Opportunity Fund Limited

Director Dealings

Pacific Alliance Asia Opportunity Fund Limited ("PAX" or the "Company") (AIM: PAX), the closed-end investment company admitted to trading on AIM and listed feeder for Pacific Alliance Asia Opportunity Fund L.P. (the "Master Fund"), today announces the following dealings in the Company.

The Company has been informed that, as part of the Tender Offer that closed on Thursday, 9 April 2015 and settled on Friday, 17 April 2015:

Mr. Anthony Miller, a director of the Company, tendered a total of 1,072,054 ordinary shares, of which 64,323 ordinary shares were tendered as his Basic Entitlement and 1,007,731 ordinary shares were tendered as Excess Shares, of which 130,979 Excess Shares were accepted, such that a total of 195,302 ordinary shares were accepted for repurchase by PAX Share Trading Limited, at the tender price of US$1.68 per share.

As a result of these transactions, Mr. Miller is directly interested in 876,752 of the Company's ordinary shares representing 0.99 per cent. of the Company's total voting rights, and indirectly interested, in 8,478,563 of the Company's ordinary shares, representing 9.55 per cent. of the Company's voting rights held by Pacific Alliance Investment Management Limited, the Company's investment manager, and its affiliates and, indirectly interested in, 44,021,083 of the Company's ordinary shares representing 49.59 per cent. of the Company's total voting rights held by the Master Fund.

Metage Capital Limited, an investment management firm in which a director of the Company, Mr. Richard Webb, is a director and controlling shareholder, tendered a total of 173,431 ordinary shares, of which 10,405 ordinary shares were tendered as its Basic Entitlement and 163,026 ordinary shares were tendered as Excess Shares, of which 21,189 Excess Shares were accepted, such that a total of 31,594 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PAX Share Trading Limited, at the tender price of US$1.68 per share.

In addition, the Company has been informed that Metage Capital Limited sold 206,164 of the Company's ordinary shares at US$1.64 per share on 30 January 2015 in the Master Fund's share purchase which closed on that date.

As a result of the above transactions, Mr. Webb has an indirect interest in 141,837 of the Company's ordinary shares, representing 0.16 per cent. of the Company's total voting rights.

For further information please contact:

 
 INVESTMENT MANAGER:                NOMINATED ADVISER: 
  Pacific Alliance Investment        Philip Secrett 
  Management Limited                 Grant Thornton UK LLP 
  T: (852) 2918 0088                 T: (44) 20 7383 5100 
  pax@pagasia.com                    Philip.J.Secrett@uk.gt.com 
---------------------------------  ---------------------------- 
 BROKER:                             MEDIA RELATIONS: 
  Hiroshi Funaki                      Stephanie Barry 
  Edmond de Rothschild Securities     PAG 
  T: (44) 20 7845 5960                T: (852) 3719 3375 
  funds@lcfr.co.uk                    sbarry@pagasia.com/ 
---------------------------------  ---------------------------- 
 

About Pacific Alliance Asia Opportunity Fund Limited

Pacific Alliance Asia Opportunity Fund Limited (AIM: PAX) serves as a feeder fund for Pacific Alliance Asia Opportunity Fund L.P. (the "Master Fund"), a Cayman Islands exempted limited partnership. PAX was admitted to trading on the AIM Market of the London Stock Exchange in September 2006.

The principal investment objective of both PAX and the Master Fund is to provide their respective investors with capital appreciation through value, arbitrage and special situations investments in Asian markets. Target investments include distressed credit, private equity secondaries, activist investments and other opportunities offering the possibility of unlocking the underlying value of a company or asset.

For more information about PAX, please visit: www.pax-fund.com

Pacific Alliance Asia Opportunity Fund Limited is managed by PAG (formerly known as Pacific Alliance Group), which is one of the region's largest Asia-focussed alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies. Founded in 2002, PAG now has a presence across Asia with 330 staff working in the region.

For more information about PAG, please visit: www.pagasia.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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