BlueCrest AllBlue Fund Ltd Proposed Euro Class Closure (7405K)
27 Juin 2014 - 11:00AM
UK Regulatory
TIDMBABS TIDMBABE TIDMBABU
RNS Number : 7405K
BlueCrest AllBlue Fund Ltd
27 June 2014
BLUECREST ALLBLUE FUND LIMITED (the "Company")
PROPOSED EURO CLASS CLOSURE
In light of the relatively small size and liquidity of the Euro
shares of the Company compared to the Sterling and US Dollar share
classes, the Board is proposing to provide the Euro shareholders
with a final conversion right into Sterling or US Dollar shares and
thereafter redeem at NAV (less costs) any Euro shares not
converted. The net asset value attributable to the Euro share class
of the Company (ISIN number: GB00B13YXC81) was EUR14.8 million as
at 20 June 2014, representing 1.43% of the aggregate net asset
value of the Company at that date.
The Board anticipates publishing a circular to shareholders in
late July which will include resolutions to amend the articles of
incorporation of the Company (the "Articles") in order to enable
the mandatory redemption of the entire Euro share class and to
approve the cancellation of the listing of the Euro share class
from the Official List. It is anticipated that meetings of both
shareholders of the Company and Euro class shareholders will be
held in August 2014.
For those Euro class shareholders wishing to remain invested in
the Company, the last monthly conversion date for conversion into
either the Sterling or US Dollar share classes will be 1 August
2014, which requires conversion forms to be submitted to the
Company by 12 noon on 18 July 2014.
Pursuant to Article 35(1) of the Company's articles of
incorporation, the Board may determine at its discretion whether it
wishes to offer a monthly conversion facility in respect of any
share class. In light of the proposals above to close the Euro
share class, the Board announces the suspension of all future
conversions of Sterling and US Dollar shares into Euro shares. For
the avoidance of doubt, any valid conversion requests previously
submitted in relation to the 1 July conversion date will be duly
processed.
The Board confirms that it will continue to offer the monthly
conversion facility between Sterling shares and US Dollar shares
and, as noted above, for the 1 August 2014 conversion date only,
from Euro shares into Sterling and/or US Dollar shares.
The redemption of the Euro share class holding in AllBlue Fund
Limited is expected to be effected with a redemption date of 1
October 2014. Subject to receipt of the necessary shareholder
approvals, it is expected that the redemption proceeds will be
payable to holders of Euro shares in November 2014.
27 June 2014
For further information about this announcement contact:
JTC Fund Managers (Guernsey) Limited
Secretary
Tel: 01481 702 400
E&OE - in transmission
This information is provided by RNS
The company news service from the London Stock Exchange
END
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