Blue Capital Alternative Income Fd Portfolio Update (1423U)

TIDMBCAI

RNS Number : 1423U

Blue Capital Alternative Income Fd

10 July 2018

Blue Capital Alternative Income Fund Limited (the "Company") (Ticker: "BCAI")

Portfolio Update

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    Anticipated % of Master Fund 
  of Master Fund Shares          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

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END

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July 10, 2018 04:14 ET (08:14 GMT)

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