BlueCrest BlueTrend Limited Conversion Notice (0779H)
June 02 2014 - 2:00AM
UK Regulatory
TIDMBBTU TIDMBBTS
RNS Number : 0779H
BlueCrest BlueTrend Limited
02 June 2014
2 June 2014
BlueCrest BlueTrend Limited (the 'Company')
Conversion Notice
In accordance with the Prospectus of the Company issued on 13
July 2012, the Board has exercised its discretionary powers under
the Company's Articles to permit conversions between classes of
Ordinary Shares on a monthly basis. The following announcement sets
out the expected conversion timetable for August 2014.
Such conversions will be on the basis of the ratio of the NAV of
the class of Ordinary Shares to be converted (less the costs of
effecting such conversion, including any redemption fee charged by
BlueTrend Fund Limited ('BlueTrend Fund') and/or BlueTrend 2x
Leveraged Fund Limited ('BlueTrend Leveraged Fund'), to the NAV of
the class of Ordinary Shares into which such shares will be
converted (each as at the relevant NAV Calculation Date, being the
last Business Day of each calendar month or, if such date is a
public holiday, the immediately preceding Business Day), and
otherwise as set out in the Articles.
Shareholders may apply to convert Ordinary Shares of any class
into Ordinary Shares of any other class as at a Conversion Day
(being the first business day of each calendar month) by
submitting: (i) in the case of Ordinary Shares held in certificated
form, a completed conversion request form (available from the
Company's website at www.bluecrestbluetrend.com or the
Administrator) accompanied by any share certificates held in
respect of such certificated Ordinary Shares; or (ii) in the case
of Ordinary Shares held in uncertificated form (that is, in CREST),
a USE instruction including the CREST information set out below, in
each case to be received by the Company's Receiving Agent,
Computershare Investor Services PLC (postal address: Computershare
Priority Application, Corporate Actions, Bristol, BS99 6AJ) by not
later than 12.00 noon on the business day falling at least 40
calendar days prior to the relevant Conversion Day.
Any conversion request form (in the case of Shares held in
certificated form) or USE instruction (in the case of Shares held
in uncertificated form) that is submitted or received after the
relevant deadline will be rejected.
Shareholders who hold their Ordinary Shares in uncertificated
form through CREST should submit their USE instruction using the
CREST information provided below and by viewing the relevant
corporate action details in CREST:
CREST PARTICIPANT ID - 3RA37
MEMBER ACCOUNT CODE:
STERLING TO US DOLLAR - GBP2USD
US DOLLAR TO STERLING - USD2GBP
In addition, Shareholders should note that fractions of Ordinary
Shares arising on conversions will be rounded down and that the
costs of conversion may be disproportionate to the value of the
Ordinary Shares converted. Hence the aggregate Net Asset Value of
those Ordinary Shares held after conversion may be less than before
such conversion. Shareholders should also note that if they elect
to convert Ordinary Shares (whether held in certificated or
uncertificated form) they will be unable to deal in those Ordinary
Shares during the period between giving notice of conversion and
the actual date of conversion. Such notice, once given, shall be
irrevocable without the consent of the Directors.
The Directors have the discretion not to operate the conversion
facility with respect to any share class or across all share
classes from time to time.
This notice is for information only. Any Shareholder who is in
any doubt whether or not to convert any of their shares is
recommended to contact an independent financial adviser.
Expected timetable:
August 2014 Conversions
Relevant deadline: Latest date for 12.00 noon Friday 20 June
receipt of completed conversion forms 2014
by the Company's Receiving Agent (with
accompanying share certificate where
shares are held in certificated form)
Conversion Day Friday 1 August 2014
Expected Conversion Date 8.00 a.m. Friday 15 August
2014
Note:
The conversion facility will not be available: (i) to
Shareholders whose conversion requests as at a Conversion Day would
result in the remaining Shares in issue of the class being
converted ceasing to meet the BlueTrend Minimum Holding* for the
relevant class of shares in BlueTrend Fund or BlueTrend Leveraged
Fund in which that class of Shares is invested; (ii) to
Shareholders whose conversion requests would result in the Company
acquiring less than: US$1,000,000, in the case of US$ Shares;
GBP1,000,000, in the case of Sterling Shares; or EUR1,000,000, in
the case of Euro shares in shares in BlueTrend Fund or BlueTrend
Leveraged Fund pursuant to the conversion, provided that the
Directors may waive such requirement at their discretion; (iii)
during any period where there is a suspension of issues and
redemptions of Shares by BlueTrend Fund and BlueTrend Leveraged
Fund; and (iv) to Shareholders whose conversion requests would
result in any class of Shares not complying with the public hands
test set out in Listing Rule 9.2.15R.
* BlueTrend Minimum Holding means US$1,000,000 in the case of
US$ shares in BlueTrend Fund and BlueTrend Leveraged Fund,
EUR1,000,000 in the case of Euro shares in BlueTrend Fund and
BlueTrend Leveraged Fund and GBP1,000,000 in the case of Sterling
shares in BlueTrend Fund and BlueTrend Leveraged Fund, or such
lesser amount as the directors of BlueTrend Fund or BlueTrend
Leveraged Fund, as applicable, may in any particular case
determine, provided that such amount is not less than US$100,000 or
its equivalent in Euro or Sterling, as the case may be.
ISINs:
Sterling GG00B7MSX903
Shares:
US$ Shares: GG00B73CPL70
Enquiries & Conversion Request Forms:
Kellie Blondel Tel: +44 (0)1481 743948
Dexion Capital (Guernsey) Limited Kellie.blondel@dexioncapital.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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