Weiss Korea Opportunity Fund Ltd. - Publication of Circular and Notice of EGM

Weiss Korea Opportunity Fund Ltd. - Publication of Circular and Notice of EGM

PR Newswire

LONDON, United Kingdom, November 28

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

28 November 2025

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

PUBLICATION OF CIRCULAR

On 17 November 2025, the Board of Weiss Korea Opportunity Fund Ltd. announced that it had fully realised all of the assets in its investment portfolio in an orderly manner, and that it had begun preparations for the cancellation of its shares from trading on AIM and the appointment of liquidators.

The Company announces that a circular including a Notice of Extraordinary General Meeting will today be posted to Shareholders (the " Circular") to convene the necessary extraordinary general meeting of the Company (the " Extraordinary General Meeting") to approve, inter alia, the Cancellation and Liquidation. The Extraordinary General Meeting is to be held at the offices of Northern Trust International Fund Administration Services (Guernsey) Limited, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY1 3QL at 10.00 a.m. on 18 December 2025. A copy of the Circular and Notice of Extraordinary General Meeting will also be available to view shortly on the Company's website https://www.weisskoreaopportunityfund.com.

The letter from the Chair to Shareholders as contained within the Circular is set out in full in the appendix below.

Capitalised terms used in this announcement shall have the same meanings given to them in the Circular unless otherwise defined herein.

For further information, please contact:

Singer Capital Markets James Maxwell/James Fischer/Anthony Debson -Nominated Adviser James Waterlow - Sales	[phone]
Northern Trust International Fund Administration Services (Guernsey) Limited Company secretary	[phone]

IMPORTANT NOTICES

Singer Capital Markets, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company and no one else in connection with the matters referred to in this announcement and the Circular and shall not be responsible to anyone other than the Company for providing the protections afforded to clients of Singer Capital Markets, nor for providing advice in connection with the matters referred to in this announcement or the Circular. Neither Singer Capital Markets nor any of its affiliates (nor any of its or their respective directors, officers, employees, representatives or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Singer Capital Markets in connection with the matters referred to in this announcement or the Circular.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

EXPECTED TIMETABLE

Event	Date and Time(1)
Publication of the Circular	Friday, 28 November 2025
Latest time and date for receipt of proxy appointments for the EGM	10.00 a.m. on Tuesday, 16 December 2025
Record date for entitlement to vote at the EGM	6.00 p.m. on Tuesday, 16 December 2025
Latest time and date for dealings in Shares prior to Cancellation	close of business on Wednesday, 17 December 2025
Suspension of Shares from trading on AIM	7.30 a.m. on Thursday, 18 December 2025
Extraordinary General Meeting	10.00 a.m. on Thursday, 18 December 2025
Announcement of results of EGM	Thursday, 18 December 2025
Appointment of Liquidators (2)	Thursday, 18 December 2025
Cancellation of admission to trading on AIM (2)	7.00 a.m. on Friday, 19 December 2025

(1) All references in this document are to London times unless otherwise stated. The dates and times given are indicative only and are based on the Company's current expectations and may be subject to change. If any of the times and/or dates above change, the revised times and/or dates will be notified to Shareholders by announcement through a Regulatory Information Service.

(2) Conditional on the passing of the Cancellation Resolution and the Liquidation Resolutions at the Extraordinary General Meeting.

Appendix

LETTER FROM THE CHAIR

WEISS KOREA OPPORTUNITY FUND LTD.

(a closed-ended investment scheme incorporated and registered in Guernsey with limited liability under the Companies (Guernsey) Law 2008, as amended with registered number 56535)

Directors: Krishna Shanmuganathan (Non-Executive Chair) Gillian Yvonne Morris (Non-Executive Director) Wendy Dorey (Non-Executive Director)

Registered Office: PO Box 255 Trafalgar Court Les Banques St Peter Port Guernsey GY1 3QL

28 November 2025

Dear Shareholder,

PROPOSALS FOR CANCELLATION OF TRADING OF THE COMPANY'S SHARES ON AIM, VOLUNTARY WINDING-UP OF THE COMPANY AND APPOINTMENT OF LIQUIDATORS

Introduction

As announced on 17 November 2025, in accordance with its Managed Wind-down process, the Company has now fully realised all of the assets in its investment portfolio, intends to return approximately GBP7,000,000 by way of a further compulsory redemption of Shares after close of business on 1 December 2025, and has commenced the process, subject to Shareholder approval, of cancelling the admission of its Shares to trading on AIM, and approving the appointment of liquidators.

Further to those announcements, I am now writing to you to provide further details of the proposed winding up of the Company. As part of the Proposals, Shareholders are also being asked to vote in favour of the cancellation of trading of the Shares on AIM (the "Cancellation"), which requires Shareholder approval pursuant to the AIM Rules.

This document sets out details of the Proposals and explains why the Directors consider the proposed liquidation and the other Proposals set out in this document to be in the best interests of the Company and Shareholders as a whole. All Shareholders are therefore encouraged to appoint a proxy by one of the methods set out in paragraph 4 of this Part I of this document as soon as possible.

Further details of the Proposals and the Resolutions which will be put to Shareholders at the Extraordinary General Meeting are set out below. The Notice of EGM is set out at the end of this document.

The Board unanimously recommends to Shareholders that they vote in favour of the Resolutions to be proposed at the Extraordinary General Meeting.

Background to and reasons for the Proposals

On 27 February 2025, following extensive consultation with the Company's advisers and Shareholders evaluating the future strategy of the Company and conclusion of a strategic review, the Company announced its decision to proceed with a managed wind-down of the Company and its intention to carry out an orderly realisation of the Company's portfolio, with capital returned to Shareholders by way of compulsory redemptions of Shares. The Company completed the first and second compulsory redemption of Shares in July and October 2025 respectively, returning approximately GBP105,000,000 in aggregate, and as announced on 17 November 2025, intends to return a further GBP7,000,000. Payments of redemption monies are expected to be made on 15 December 2025.

In the context of where the Company's Managed Wind-down process has now reached, with all of the Company's investment portfolio now fully realised in an orderly manner, GBP105,000,000 already returned to Shareholders and a further GBP7,000,000 to be returned in December, the Board believes that the costs to Shareholders of continuing the Company in its current form and maintaining an AIM listing are now outweighed by the benefits of completing the Cancellation and the Company being wound up by the Liquidators. The Liquidation Resolutions are conditional on the passing of the Cancellation Resolution.

The cost savings achieved by the Proposals would be significant and would include (without limitation):

• upon the appointment of the Liquidators, the Company's Investment Management Agreement with the Investment Manager will be terminated and no further fees will be payable to the Investment Manager other than those accrued up to the commencement of the Company's voluntary winding-up;

• running costs being reduced following the proposed resignation of Krishna Shanmuganathan as a Director and the termination of the appointments of other service providers (as described further below);

• incurring no further costs in relation to the preparation of audited year end accounts for the year ended 31 December 2025 which would no longer be required;

• the Company no longer being required to bear the costs of maintaining a nominated adviser for the purposes of the AIM Rules; and the Company no longer being required to pay listing fees to the London Stock Exchange in respect of the admission to trading of its shares on AIM.

The Board estimates that the costs and expenses of the Proposals will amount to approximately £134,855, which includes the fees of the Liquidators and those of the Company's advisers (inclusive of VAT to the extent applicable). The Liquidators will retain the Liquidation Fund to pay the Company's known and contingent liabilities, costs of liquidation not already paid at the point of the commencement of the voluntary winding-up and an amount for unknown contingencies.

Once the Liquidators have satisfied the claims of creditors of the Company and paid the costs and expenses of the voluntary winding-up, the Liquidators may make a final distribution to Shareholders. Subject to the passing of Resolution 4 by Shareholders at the EGM, if any final distribution payable to any Shareholder (after deducting any applicable fees, costs or charges) is less than GBP5.00, it shall not be paid to the relevant Shareholder(s) but instead will be retained by the Company and paid to a registered charity or charities selected by the Board. If Resolution 4 is not passed by Shareholders at the EGM, such amount shall be paid to the relevant Shareholder(s). Further details on any final distribution due to Shareholders is set out in paragraph 3 of this Part I below.

The Proposals

The Proposals are comprised of the following principal elements:

· the Cancellation;

· the appointment of the Liquidators;

· the resignation of Krishna Shanmuganathan as a Director;

· the termination of the Investment Management Agreement and, subject to agreement of the terms, the appointments of all the Company's other service providers other than the Registrar, subject to passing of the Cancellation and Liquidation Resolutions; and

· authorising the Liquidators to donate to a registered charity or charities any de minimis amounts that would otherwise be paid to Shareholders as part of any final distribution.

Cancellation

Rule 41 of the AIM Rules requires an AIM company that wishes to cancel admission of its securities to trading on AIM to notify such intended cancellation to the public and separately to inform the London Stock Exchange of its preferred cancellation date. The rule also requires that, unless the London Stock Exchange otherwise agrees, the Cancellation must be conditional upon the consent of not less than 75 per cent. of votes cast by the Shareholders, given in a general meeting.

Subject to Shareholder approval at the Extraordinary General Meeting, it is expected that the admission of the Shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 19 December 2025. Once the Cancellation has occurred, Shareholders will not have the ability to transact in their Shares through any trading platform.

Shareholders should also be aware that trading in the Shares on AIM will be suspended from 7.30 a.m. on 18 December 2025, in advance of the EGM, as the Company would no longer be considered to be an appropriate company for AIM on the commencement of a liquidation process.

The Cancellation may have taxation consequences for Shareholders. Shareholders who are in any doubt about their tax position should consult an appropriate professional adviser.

Upon cancellation of the Shares to trading on AIM, Singer Capital Markets will cease to be the Company's nominated adviser, Singer Capital Markets Securities Limited will cease to be the Company's broker and the Company will no longer be required to comply with the AIM Rules.

Appointment of the Liquidators

The Proposals involve the Company being placed into a voluntary winding-up and, subject to the passing of the Liquidation Resolutions by Shareholders at the Extraordinary General Meeting, the Company will be wound-up in accordance with section 391(1)(b) of the Companies Law. Shareholders should note that the Company is solvent and the voluntary winding-up is not an insolvent liquidation.

Conditionally on the passing of the Cancellation Resolution and the Liquidation Resolutions, Andrea Frances Alice Harris and Benjamin Alexander Rhodes of Grant Thornton Advisors Limited have agreed to act as the liquidators. The Liquidators will charge the Company on a time cost basis estimated at £20,000 plus disbursements of c.£1,000 provided that, in the event that the engagement of the Liquidators becomes more complex than anticipated, this amount will be greater on the basis of the additional work to be performed.

Pursuant to their engagement, the Liquidators have agreed to do all things necessary to facilitate the winding up of the Company, including without limitation:

· to take control of the Company's funds by way of a change of mandate on the Company's bank accounts;

· to retain sufficient funds to discharge all known and contingent liabilities to include the costs of the winding-up;

· to, if sufficient funds remain, make a final distribution to Shareholders once all costs and liabilities have been settled and all clearances have been obtained; and

· to finalise and close the winding-up following any final distribution.

From the passing of the Liquidation Resolutions and such resolutions becoming unconditional, the Directors' powers will cease and the Company will be controlled by the Liquidators.

Once the Liquidators have satisfied the claims of creditors of the Company and paid the costs and expense of the voluntary winding-up, the Liquidators may make a final distribution to Shareholders according to their respective rights and interests in the Company. This final distribution, if any, will not be made until the Liquidators have discharged the Company's liabilities and obtained tax clearance from the Guernsey Revenue Service to proceed with the conclusion of the Liquidation, following which the Liquidators may distribute any surplus to Shareholders in accordance with their respective rights.

The precise timing of this final distribution (if any) is uncertain and is likely to be a nominal amount per Share, but is expected to be paid within 6 months of the commencement of the voluntary winding-up.

The Liquidators will subsequently prepare a final account of winding-up which will be sent to Shareholders giving appropriate notice in accordance with the articles of incorporation of the Company of a general meeting of the Company at which the final account will be presented and an explanation given on it. After such final meeting, the Liquidators shall give notice to the Registrar of Companies in Guernsey (the "Registry") of the holding of the final meeting. The Registry shall publish the fact of this final meeting and on the expiration of three months beginning on the date of delivery of the notice to the Registry, the Company shall be dissolved.

If the Cancellation Resolution and the Liquidation Resolutions are passed by the requisite majorities, it is proposed that Krishna Shanmuganathan will resign as a Director. Gillian Yvonne Morris and Wendy Dorey will remain as Directors until the Company is finally wound up.

In addition, if the Cancellation and the Liquidation Resolutions are passed, the Investment Management Agreement will be terminated with effect from the appointment of the Liquidators and the commencement of the Company's voluntary winding-up. The Company intends to terminate the appointments of the Company's other service providers, in accordance with the terms of such appointments, other than the Registrar. Save for any accrued but unpaid fees payable in respect of the period up to and including the commencement of the voluntary winding-up, no compensation will be payable in connection with the termination of the Investment Management Agreement.

Extraordinary General Meeting

At the end of this document you will find the Notice of EGM, convening an extraordinary general meeting of the Company to be held at the offices of Northern Trust International Fund Administration Services (Guernsey) Limited, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY1 3QL at 10.00 a.m. on Thursday, 18 December 2025.

A summary of the action you should take is set out in the paragraph below. The Resolutions seek the approval of Shareholders to:

1 the Cancellation;

2 the voluntary winding up of the Company;

3 grant the Liquidators the authority to distribute the whole or any part of the assets of the Company in specie to the Company's members;

4 the appointment of the Liquidators;

5 fix the remuneration of the Liquidators; and

6 grant the Liquidators the authority to donate to a registered charity or charities selected by the Board any de minimis amounts that would otherwise be payable to Shareholders as part of any final distribution.

The full text of the Resolutions to be proposed at the Extraordinary General Meeting is set out in the Notice of EGM at the end of this document. Resolutions 1, 2, 3 and 4 will be proposed as special resolutions and the passing of such Resolutions will require a 75 per cent. majority of the votes cast in person or by proxy and Resolutions 5 and 6 will be proposed as ordinary resolutions and the passing of such Resolutions will require a simple majority of the votes cast in person or by proxy. The Cancellation Resolution and the Liquidation Resolutions are inter-conditional, meaning that each of them will only take effect, and the Cancellation and Liquidation will only be implemented, if they are each approved by the requisite majority of Shareholders' votes at the EGM. The resolution authorising the Liquidators to donate de minimis final distribution amounts to a registered charity or charities is conditional on the passing of both the Cancellation Resolution and the Liquidation Resolutions.

A copy of the Notice of EGM is available for inspection on the Company's website, www.weisskoreaopportunityfund.com, and will be made available for inspection from the Company Secretary during normal business hours (Saturdays, Sundays and public holidays excepted) from the date of this document up to and including the date of the EGM and at the place of the EGM for at least 15 minutes before and during the EGM. The Company Secretary can be contacted at Northern Trust International Fund Administration Services (Guernsey) Limited, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY1 3QL.

Action to be taken by Shareholders

All Shareholders are encouraged to vote in favour of the Resolutions to be proposed at the EGM. Whether or not Shareholders intend to be present at the EGM, they are requested to appoint a proxy to vote on the Resolutions being proposed at the EGM and may do so:

· via the Investor Centre app or by accessing the web browser at https://uk.investorcentre.mpms.mufg.com/;

· by requesting a hard copy Form of Proxy directly from the Registrar; or

· in the case of CREST members, by utilising the CREST electronic proxy appointment service.

In order for a proxy appointment to be valid, Shareholders must ensure that they have recorded proxy details using one of the methods set out above in accordance with the procedures set out in the notes to the Notice of EGM at the end of this document by 10.00 a.m. on 16 December 2025. The appointment of a proxy will not preclude a Shareholder from attending and voting in person at the EGM if they wish to do so.

Recommendation

The Board considers the Proposals and the Resolutions to be in the best interests of the Company and Shareholders as a whole. Accordingly, the Board unanimously recommends Shareholders vote in favour of the Resolutions to be proposed at the EGM, as they intend to do in respect of their own beneficial holdings which, as at 27 November 2025, being the latest practicable date prior to the publication of this document, amount in aggregate to 433 Shares, representing approximately 0.01 per cent. of the Company's existing issued share capital (excluding any Shares held in treasury).

As a result of the further compulsory redemption of Shares expected to complete after close of business on 1 December 2025, the Directors will own less Shares than as stated in this paragraph 5 such that the Directors intend to vote in favour of the Resolutions to be proposed at the Extraordinary General Meeting in respect of their beneficial holdings of Shares as at the date of the Extraordinary General Meeting.

Yours faithfully

Krishna Shanmuganathan

Non-Executive Chair

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