Net Asset Value(s)

RNS Number : 1941D

Highbridge Multi-Strategy Fd Ltd £

04 July 2016

 

HIGHBRIDGE MULTI-STRATEGY FUND LIMITED (the "Company")

ESTIMATED NET ASSET VALUE ("NAV") OF SHARES 

These estimated NAVs are calculated as at the close of business on Tuesday the "VP", being the valuation point:   

Ordinary Shares	NAV
Sterling Shares                     ISIN: GB00B13YVW48	GBP 2.0020

These estimated NAVs of a Sterling Share and a US Dollar Share have been calculated on the respective assets and liabilities of each currency class within the Company as at the VP having regard to (i) the cash and near cash items held and (ii)  the confirmed net asset value of the respective currency classes of Shares in AllBlue Limited (AB) and AllBlue Leveraged Feeder Limited (ABL) (as provided by BlueCrest Capital Management Limited) duly amended using a discounted cashflow methodology based on the 12 month interbank swap rate for the relevant currency on a day count basis so as to reflect the anticipated pay-out of redemption proceeds by both AB and ABL.  However, the exact timings and amounts of these cashflows are not known with certainty.

Please be advised that as at the valuation point approximately 1.5% of the assets were held as cash, approximately 18% of the assets are attributable to AB and ABL and approximately 80.5% are shares in HighBridge Multi-Strategy Fund.

Based on information received by the Company from AllBlue Limited and AllBlue Leveraged Feeder Limited as to the residual value of their own shares, the Company's Administrator has calculated the unaudited estimated residual payment due to the shareholders having elected the Cash Exit option to be £0.3921 per exiting Sterling share and US$0.3656 per exiting US Dollar share. These creditors may choose to take this as indicative of the potential realisation proceeds yet to be paid to them.

This announcement of the NAVs of the Shares supersedes the estimated NAVs as at the VP based on the estimated net asset value of the respective currency classes of Shares in AllBlue Limited and AllBlue Leveraged Feeder Limited announced on Thursday 9 June 2016.

Note:  The Company is a closed-ended investment company registered and incorporated in Guernsey. The Shares of the Company are admitted to the Official List and to trading on the main market of the London Stock Exchange. 

Note:  Your attention is drawn to the Company's announcement of the results of its EGM on 24 February 2016 and all subsequent announcements concerning the redemption of shares and change of investment policy. Investors should be aware that the amount payable on a return of capital, whether on a winding-up of the Company or otherwise, may differ materially from this valuation.

4 July 2016

For further information about this announcement contact:

JTC (Guernsey) Limited

Secretary

Tel:  [phone]

E&OE - in transmission

 

END

 

 

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