Update on Proposed Return of Capital

RNS Number : 5733I

BlueCrest AllBlue Fund Ltd

09 December 2015

 



BlueCrest AllBlue Fund Limited (the "Company")

9 December 2015

Update on Proposed Return of Capital

Further to the Company's announcement on 2 December 2015 regarding the proposed return of capital by AllBlue Limited ("AllBlue"), the Company has received a significant number of indicative proposals from third party investment managers in relation to potentially suitable options for shareholders considering maintaining their investment in the Company or another vehicle in a tax efficient manner.

The Board is conducting an initial assessment of all indicative proposals received by the Company with a view to then undertaking a more detailed due diligence review of any candidates which represent potentially viable continuation options for shareholders. This review exercise is proposed to be completed early in the New Year with a view to the Company being in a position to put forward proposals to all shareholders for consideration by no later than the end of January 2016.

BlueCrest Capital Management Limited has separately provided an update to the Company in relation to the expected timetable for the receipt of redemption proceeds.  The Company has exposure to both AllBlue and the leveraged version of AllBlue.  As a result of requirements by the lender to the leveraged fund to repay that fund's borrowing facility it is now expected that the Company will receive approximately 70% of the redemption proceeds before the end of January 2016, a further amount of approximately 15% by the end of April 2016, with the remainder due as soon as practicable thereafter.

For further information contact:

JTC (Guernsey) Limited, Secretary

Tel:  [phone]

Jefferies International Limited

Gary Gould/ Alex Collins

Tel: + 44 (0) 20 7029 8000

Dexion Capital Plc

Robin Bowie/ Katie Standley

Tel: [phone]

 

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