BBTS Bluecrest BL £

TIDMBBTS

RNS Number : 5126C

BlueCrest BlueTrend Limited

16 October 2015

BlueCrest BlueTrend Limited

16 October 2015

Recommended Proposals for a Voluntary Winding Up

Following completion of the tender offer made in June 2014 by BlueCrest BlueTrend Limited (the "Company"), the Directors have continued to monitor the Company's size against the provision in the Company's articles of incorporation that requires a continuation vote to be put to shareholders if the average net asset value for the last three months of each calendar year does not exceed $100m.

In light of uncertainty regarding whether the Company's net asset value will increase to that threshold level, the Directors believe that it is in Shareholders' best interests now to propose that the Company be voluntarily wound up.

The Company will shortly be posting to shareholders, and announcing via an RIS, details of the liquidation proposals. It is expected that, based on the current timetable and subject to receipt of shareholder approval for the proposals, liquidation proceeds will be distributed to shareholders in early December 2015.

 
 Enquiries: 
 Robin Bowie/Katie Standley   Dexion Capital plc 
                               +44 (0)20 7832 0900 
 Kellie Blondel/Carol Kilby   Dexion Capital (Guernsey) Limited 
                               +44 (0)1481 743940 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

October 16, 2015 05:26 ET (09:26 GMT)

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