Results of Placing

RNS Number : 2343T

BlueCrest AllBlue Fund Ltd

23 September 2010

 



23 September 2010

Results of Placing

BlueCrest AllBlue Fund Limited

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN, OR INTO, DIRECTLY OR INDIRECTLY, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR TO U.S. PERSONS.  THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY OR ACQUIRE ORDINARY SHARES IN THE COMPANY IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

RESULTS OF PLACING

Further to the announcement on 15 September 2010, BlueCrest AllBlue Fund Limited (the "Company") is pleased to announce the results of the placing for cash of new ordinary shares (the "Placing"), which was oversubscribed.

In aggregate, 52,592,649 new shares (the "Placing Shares"), representing 9.99 per cent. of the issued share capital, have been placed by RBS Hoare Govett Limited and Dexion Capital plc with new and existing investors (including BlueCrest employees), raising the equivalent of approximately £83.3 million of new monies (before expenses).  

Richard Crowder, Chairman of the Company, said: "This is BlueCrest AllBlue's second successful fundraising in four months. We are pleased to have been able to further expand and diversify the investor base by satisfying demand from existing and new investors."

Pursuant to the Placing, the Company will issue:

·     46,363,168 new Sterling Shares at a price of 165.2p;

·     977,928 new Euro Shares at a price of €1.594; and

·      5,251,553 new US$ Shares at a price of US$1.597.

Subject to the conditions of the Placing being satisfied, each class of Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the Company's existing ordinary shares of the same currency class. The Company will apply for, and the Placing is conditional upon, admission of the Placing Shares to the Official List of the Financial Services Authority and to trading on the London Stock Exchange's market for listed securities (together, "Admission"). It is expected that settlement and Admission will take place on 28 September 2010.

The Placing Price in each case represents a premium of approximately 1.5% to the NAV as at 17 September 2010 and after the costs of the Placing this is NAV per share accretive for existing Shareholders.

It is anticipated that all or substantially all of the aggregate net proceeds of the Placing will be invested in the shares of AllBlue Limited by 1 October 2010, in accordance with the Company's investment policy.

Accordingly, conditional on Admission, the Company's issued share capital with effect from 28 September 2010 will be as follows:

Sterling Shares:                                                        510,458,941;

Euro Shares:                                                             10,766,999; and

US Dollar Shares:                                                      57,819,649.

All shareholders have equal voting rights based on the number of shares held. Accordingly, the total number of voting rights in the Company is 578,595,589 (excluding 450,000 Sterling Shares held in treasury) and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the announcement of the Company dated 15 September 2010.

Enquiries

Gary Gould / Alex Collins RBS Hoare Govett Limited	Tel: [phone]
Robin Bowie / Ana Haurie Dexion Capital plc	Tel: [phone]
Ed Orlebar/Caroline Villiers/Louise Hatch M:Communications	Tel: [phone]

Important notices

This announcement has been issued by, and is the sole responsibility of, the Company.

Members of the public are not eligible to take part in the Placing and no public offering of securities will be made.

RBS Hoare Govett and Dexion, each of which are authorised and regulated by the FSA, are acting for the Company and no one else in relation to the Placing and are not advising any other person or treating any other person as their customer in relation to or in connection with the Placing and are not advising any other person or treating any other person as their customer in relation to the matters referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of RBS Hoare Govett and Dexion or for providing advice in relation to the Placing or any matter referred to in this announcement.

The Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States absent registration except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. No public offering of the Placing Shares is being made in the United States. The Placing  is being made outside the United States in offshore transactions (as defined in Regulation S under the Securities Act ("Regulation S")) meeting the requirements of Regulation S under the Securities Act. Persons receiving this document (including custodians, nominees and trustees) must not forward, distribute, mail or otherwise transmit it in or into the United States or use the United States mails, directly or indirectly, in connection with the Placing.

It should be noted that past performance is not necessarily indicative of the future performance of the Placing Shares or the existing shares of the Company. Further, any indication in this announcement of the price at which securities of the Company have been bought or sold in the past cannot be relied upon as a guide to future performance of the securities of the Company. No statement in this announcement is intended to be a profit forecast or dividend forecast.

 

END

 

 

ROIFMGZLVFNGGZM