BlueCrest BlueTrend has announced that, following completion of the tender offer made in June 2014 by BlueCrest BlueTrend Limited (the “Company”), the Directors have continued to monitor the Company’s size against the provision in the Company’s articles of incorporation that requires a continuation vote to be put to shareholders if the average net asset value for the last three months of each calendar year does not exceed $100m.
In light of uncertainty regarding whether the Company’s net asset value will increase to that threshold level, the Directors believe that it is in Shareholders’ best interests now to propose that the Company be voluntarily wound up.
The Company will shortly be posting to shareholders, and announcing via an RIS, details of the liquidation proposals. It is expected that, based on the current timetable and subject to receipt of shareholder approval for the proposals, liquidation proceeds will be distributed to shareholders in early December 2015.
BBTS : BlueCrest BlueTrend proposes wind up