AGH 4 0.10 Vol 27000 AGL 16.25 0.00 Vol 2000 BAS 1.6 0.00 Vol 0 BFM 17.75 0.00 Vol 400 BG23B 98.0002 0.00 Vol 0 BPH 6.5 0.00 Vol 0 DEVON 5.5 0.00 Vol 0 LOM 2.5 0.00 Vol 0 NTB 46.5 0.00 Vol 0 ONE 2.9 0.00 Vol 0 POLAR 5 0.00 Vol 0 SOM 16.25 0.00 Vol 0 WHHL 4.1 0.00 Vol 0 WWW 25 0.00 Vol 0
Market Closed:

Blue Capital Alternative Income Fund Limited -Portfolio Update

Hamilton, Bermuda – July 10, 2018 – In a filing with the Bermuda Stock Exchange (“BSX”), Blue Capital Alternative Income Fund Limited (the "Company", Ticker: BCAI.BH) issued a Portfolio Update. The full filing stated:

On 9 May 2018, the Board announced its intention to recommend an orderly run-off of the Company.  Having assessed the alternative options for implementation of this orderly run-off, the Board concluded that it is in the best interests of the Company to be voluntarily wound-up and recommended this action to Shareholders in a circular published on 27 June, 2018 (the “Circular”).  The Circular contained a notice convening a Special General Meeting to be held on 25 July 2018 at which resolutions will be proposed regarding the liquidation of the Company (the "Proposals").

If the Proposals are approved, liquidators will be appointed who will be responsible for the affairs of the Company until it is wound up (the “Liquidators”).  As the Company is a feeder fund, the liquidation is expected principally to be achieved by the redemption of all of the Company's Master Fund Shares in accordance with the terms thereof and distributing the net proceeds thereof to Shareholders.  The amount and the timing of the distributions will be at the Liquidators' discretion.  However, the Liquidators expect to distribute the net proceeds of the redemptions of the Master Fund Shares (after payment of any costs and save for any amount required for reserves in respect of anticipated liabilities) to Shareholders on a quarterly basis by way of a dividend or other distribution.  The Company anticipates (but can provide no assurances) that its Master Fund Shares will be redeemed and proceeds distributed to it in line with the following schedule:

Anticipated Redemption Date of Master Fund Shares

Anticipated % of Master Fund Shares being redeemed

2018

14%

2019

83%

2020

2%

2021

1%

 

This anticipated redemption schedule is for illustrative purposes and is based on numerous assumptions.  There can be no assurance that this schedule will be met in full or in part and actual distributions could ultimately be materially different as unforeseen costs and events could significantly alter the amount and timing of future distributions.  For more information on the risks that could impact the amount and timing of future distributions, please read the Key Risk Factors contained in the Circular to Shareholders which is available on the Company’s website at www.bcai.bm. 

Shareholders should note that, notwithstanding that the Company is in liquidation, the Company will remain exposed to the performance of the Master Fund and its underlying investments until redemption (and therefore the amount to be received by Shareholders and the timing of those receipts will be dependent on that performance among other factors).

Contacts

 

For investor enquiries please contact:

Blue Capital Management Ltd.

Michael J. McGuire

 +1 441 278 0988

Email: investorrelations@Sompo-Intl.com

 
   

Stifel Nicolaus Europe Limited

 +44 (0)20 7710 7600

Neil Winward

 

TRADING HOURS

08:30-09:00 Price Discovery
09:00-16:30 Continuous Trading

CONTACT DETAILS

TEL: +1 (441) 292 7212
FAX: +1 (441) 292 7619
Email: info@bsx.com

LOCATION

30 Victoria Street
3rd Floor
Hamilton, Bermuda

MAILING ADDRESS

P.O. Box HM 1369
Hamilton HMFX

Disclaimer

 

The information contained in these pages has been obtained from sources which The Bermuda Stock Exchange believes are reliable. However, the accuracy of the information cannot and is not guaranteed and The Bermuda Stock Exchange makes no representation as to its accuracy or completeness. Neither this Web site, nor any information contained herein, constitutes advice or a solicitation to subscribe, purchase or sell any securities. The Bermuda Stock Exchange expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon any part of the contents of this site or any external sites referenced from this website.