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BlueCrest AllBlue update on continuation proposals

02 February 2016 14:08

BlueCrest AllBlue Fund Limited says it has has now received from AllBlue Limited and AllBlue Leveraged Feeder Limited the second tranche of redemption monies in the sum of approximately GBP165 million and USD9 million.

The company has now received a total of approximately GBP500 million and USD31 million from AllBlue and AllBlue Leveraged, representing approximately 65% of the net asset value of the sterling class and 73% of the net asset value of the US dollar class.

These proceeds have been invested in UK Government Treasury Bills, a money market fund and cash deposits with a diversified range of higher rated banks.

The difference in the percentage of proceeds received to date in the sterling and dollar classes reflects the lower redemption amount received from AllBlue Leveraged which is held, in part, by the sterling class.

AllBlue Leveraged has returned approximately 46.5% of capital because of the repayment of the leverage facility in that fund, as notified in the Company's announcement on 9 December 2015. 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 2:08pm:

(LON:BABS) Bluecrest Allblue Fund GBP share price was -0.35p at 191.15p

(LON:BABU) Bluecrest Allblue Fund Ltd share price was -0.01p at 1.82p

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