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BlueCrest AllBlue update on continuation

25 January 2016 14:41

BlueCrest AllBlue Fund Limited has now received from AllBlue Limited and AllBlue Leveraged Feeder Limited the first tranche of redemption monies in the sum of approximately £GBP335 million and USD22 million representing approximately 44% of the company's net asset value.

These proceeds have been invested in cash deposits with a diversified range of higher rated banks.

Additional relationships are being established which will enable additional monies, when received, to be placed with further counterparties, pending completion of the proposals to be put to shareholders, as outlined in the company's announcement on 14 January.

The company said the board and its advisers continue to progress documentation in relation to the proposals and intend to publish a circular as soon as practicable in early February.

At 2:41pm:

(LON:BABS) Bluecrest Allblue Fund GBP share price was -1p at 191.4p

(LON:BABU) Bluecrest Allblue Fund Ltd share price was -0p at 1.84p

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Related Company: BABS

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