AOF nav for November 30 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$0.70. The decline from $0.782 on 23 November to US$0.70 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 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.

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.

 

 

 

 

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