Blue Capital Alternative Income throws in towel – At Blue Capital Alternative Income’s AGM, which was held on 8 May 2018, shareholders voted 78.2m shares in favour of continuation and 68.8m shares against. Despite winning the vote, the board intends to recommend an orderly run-off of the company. This will be voted on at a special general meeting of shareholders to be held at the earliest practicable date. The manager will take into consideration the board’s recommendation with respect to an orderly run-off in conducting its business between now and the meeting [presumably it will cease making new investments – the nature of the portfolio is that, where there are no claims, cash is available for distribution at the end of the life of the insurance contract – for the most part at 31 December. the side pockets relating to claims may take longer to unwind, however.].
BCAI : Blue Capital Alternative Income throws in towel