WKOF Weiss Korea Opportunity Fund Ltd.

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF IRELAND OR SOUTH AFRICA OR TO
U.S. PERSONS

Weiss Korea Opportunity Fund Ltd.

(“WKOF” or the “Company”)

(a closed-ended investment scheme incorporated with limited liability

under the laws of Guernsey with registration number 56535)

LEI Number: 213800GXKGJVWN3BF511

BOARD UPDATE

Weiss Korea Opportunity Fund Ltd (“WKOF”) announces that it has been notified by its Investment Manager, Weiss Asset Management LP (“WAM”), that it believes that the opportunity set and strategy for the fund continuing in its current form is less attractive than it has been in the past, including at the Company’s inception in 2013, and that it does not think this change in circumstances is likely to improve in the foreseeable future.

WAM has confirmed to the Board that it remains committed to fulfilling its obligations under the  Investment Management Agreement in full and will continue to support the Board in its management of the Company.

In light of the above, the Board today announces that it intends to undertake a strategic review to consider the future of the Company and to explore the strategic options available. 

The Board intends to conduct the review in a prompt manner, with the best interests of the Company’s shareholders in mind at all times.  The Board welcomes the views of shareholders, which should be directed in the first instance to the Company’s nominated adviser and broker, Singer Capital Markets, and whose details are below.  The Board also confirms that it remains committed to the next realisation opportunity (or similar uncapped liquidity structure) taking place no later than May 2025.

The Company will announce updates to shareholders on the progress of the strategic review as appropriate and during this process the Company’s existing investment policy and strategy will continue to be applied.

For further information, please contact: