Results of EGM and Cash Exit

RNS Number : 0815Q

BlueCrest AllBlue Fund Ltd

24 February 2016

BlueCrest AllBlue Fund Limited (to be renamed Highbridge Multi-Strategy Fund Limited, the "Company")

24 February 2016

Results of EGM and Cash Exit

The Directors are pleased to announce that the resolutions put to Shareholders at each of the US$ Class Meeting, Sterling Class Meeting and Extraordinary General Meeting held today were passed. Accordingly, as set out in the Circular to Shareholders dated 8 February 2016 (the "Circular"), the Company's investment policy has been changed to permit investment into the Highbridge Multi-Strategy Fund ("HMSF"). The Company's investment into HMSF will take effect from 1 March 2016. Further details in relation to the voting at each of the meetings is set out below.

Results of Cash Exit Offer

As part of the Proposals, Shareholders were offered the opportunity to redeem up to 100 per cent of their Shares in the Company as at the Record Date.

The Cash Exit Offer closed at 5pm on 22 February 2016. The final number of Shares to be redeemed pursuant to the Cash Exit Offer remains subject to finalisation of the conversion ratio for the US$ Shares into Sterling Shares (see further below). However, based on the latest estimated net asset value per Share as at 19 February 2016, the Company will have ongoing aggregate net assets of approximately £262m, having taken account of Cash Exit Proceeds.

As set out in the Circular, Shares participating in the Cash Exit Offer will be redeemed on 25 February 2016 and the Company expects to provide an update on the final figures, including the amount of the initial distribution, on this date.

Conversion of US$ Shares into Sterling Shares

The US$ Shares remaining following completion of the Cash Exit Offer will be converted into Sterling Shares using the net asset value as at 19 February 2016. A further announcement will be made on 25 February 2016 with details of the conversion ratio. Application has been made for the Sterling Shares arising on conversion to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange ("Admission"). It is expect that Admission will take effect on 29 February 2016.

Change of Name

With effect from 24 February 2016, the Company's name was changed to Highbridge Multi-Strategy Fund Limited. The new TIDM for the Sterling Share class will be HMSF.

Results of Class Meetings and General Meeting

	Result of Special Resolution	Votes in favour	Votes Against	Votes Withheld	Shares in respect of which proxy appointments validly made
US$ Class Meeting	Passed	4,743,712	0	0	4,743,712
Sterling Class Meeting	Passed	189,405,447	0	0	189,405,447
General Meeting	Passed	190,542,046	0	0	190,542,046

The indicative timetable of principal events is set out below:


Subscription into HMSF becomes effective	1 March 2016

Admission of Sterling Shares arising on conversion of US$ Shares	8.00 am on 29 February 2016

The indicative timetable for the cash exit offer is set out below:


Redemption and cancellation of Shares pursuant to the Cash Exit Offer	25 February 2016
Initial cash payment of Cash Exit Proceeds	Within 5 Business Days following 25 February 2016
Subsequent and then final payment of Cash Exit Proceed	Within 5 Business Days following receipt by the Company of cash proceeds of realising assets comprised in the Redemption Portfolios*
*Shareholders should note that the Company may hold back the payment of cash proceeds of realising assets comprised in the Redemption Portfolios until a material amount is available for distribution to redeeming Shareholders to avoid the cost and administrative burden of distributing small amounts