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Blue Capital Alternative Income Fund Limited - Resolutions will be proposed to shareholders regarding the liquidation of the Company
Hamilton, Bermuda – June 22, 2018 – In a filing with the Bermuda Stock Exchange (“BSX”), Blue Capital Alternative Income Fund Limited (the "Company", Ticker: BCAI.BH) announced the Board’s intention to recommend an orderly run-off of the Company. The full filing stated:
Blue Capital Alternative Income Fund Limited (the “Company”) (Ticker: “BCAI”)
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 has concluded that it is in the best interests of the Company to be voluntarily wound-up and intends to recommend this action to Shareholders at a Special General Meeting to be held during the course of July 2018.
Consequently, the Company has today published a circular to shareholders containing a notice convening a Special General Meeting to be held at 9:00 a.m. (Bermuda time) on 25 July 2018 at which resolutions (the "Resolutions") will be proposed to shareholders regarding the liquidation of the Company (the "Proposals").
Details of the proposed timing for the liquidation of the Company are included in the shareholder circular and the expected timetable is set out below.
In light of the proposed Resolutions, application will be made to the London Stock Exchange for suspension of the trading of the Company’s Ordinary Shares on the Main Market at 7:30 a.m. on 25 July 2018. The Register will be closed and the Ordinary Shares disabled in CREST at 5:00 p.m. on 24 July 2018.
If the Resolutions are passed, the Company will make application to the London Stock Exchange for the cancellation of trading in the Ordinary Shares following the Special General Meeting, with the cancellation expected to take effect at 8:00 a.m. (UK time) on 26 July 2018.
The circular and notice of Special General Meeting will shortly be available to view on the Company's website.
EXPECTED TIMETABLE
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Latest time and date for receipt of Forms of Instruction and CREST Instructions from the Depository Interest Holders
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9:00 a.m. (Bermuda time) (1:00 p.m. UK time) on 20 July 2018 |
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Latest time and date for receipt of Forms of Proxy
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9:00 a.m. (Bermuda time) (1:00 p.m. UK time) on 23 July 2018 |
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Suspension of trading of the Ordinary Shares on the London Stock Exchange
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7:30 a.m. (UK time) on 25 July 2018
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Suspension of the listing and trading of the Ordinary Shares on the BSX
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25 July 2018
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Special General Meeting |
9:00 a.m. (Bermuda time) (1:00 p.m. UK time) on 25 July 2018
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Liquidators appointed
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25 July 2018 |
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Announcement of the results of the Special General Meeting
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By 5:00 p.m. on 25 July 2018
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Cancellation of trading of the Ordinary Shares on the London Stock Exchange |
8:00 a.m. (UK time) on 26 July 2018
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Cancellation of the listing and trading of the Ordinary Shares on the BSX
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26 July 2018
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Contacts
For investor enquiries please contact:
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Blue Capital Management Ltd. Michael J. McGuire |
+1 441 278 0988 |
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Stifel Nicolaus Europe Limited |
+44 (0)20 7710 7600 |
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Neil Winward |
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Mark Bloomfield |
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Tunga Chigovanyika |