Statement re Share Buy-back Engagement

RNS Number : 1801E

BlueCrest AllBlue Fund Ltd

28 May 2012

 



NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

28 May 2012

BLUECREST ALLBLUE FUND LIMITED

SHARE BUY-BACK ENGAGEMENT

BlueCrest AllBlue Fund Limited ("BCAB" or the "Company") announces that is has engaged a buy-back agent to effect share buy backs on behalf of the Company (the "Engagement").

Pursuant to and during the term of the Engagement, the Company's buy-back agent may independently of, and without influence by the Company, effect on-market purchases of ordinary shares of no par value (the "Shares") from time to time at its absolute discretion provided that the maximum price payable for a Share on the Main Market of the London Stock Exchange plc (the "Exchange") is an amount equal to the higher of:

a.   105 per cent. of the average market value of the Company's Shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased; and

b.   the higher of the price of the last independent trade and the highest current bid stipulated by Article 5(1) of the Commission Regulation (Directive 2003/6/EC) 22 December 2003 implementing the Market Abuse Directive with regard to exemptions for buy back programmes and stabilisation of Financial Instruments (No. 2273/2003).  

Share buy-backs under the Engagement will be made pursuant to the shareholder authority granted to the Company at the Annual General Meeting held on 19 July 2011, but the Board advises shareholders there can be no certainty that the Company will acquire any shares under this Engagement. The Engagement will commence with effect from today and will, unless terminated earlier, end on 25 November 2012.

A buy-back of Shares pursuant to the Engagement on any trading day may represent a significant proportion of the daily trading volume in the Shares on the Exchange (and could exceed the 25% and 50% limits of the average daily trading volume during April 2012 as referred to in the Commission Regulation (EC) No. 2273/2003 on buy-back programmes).

BCAB will announce any market repurchase of Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. To the extent permitted by law, Shares bought back under the Engagement will be held in treasury.

-ENDS-

Enquiries

Anson Fund Managers Limited Secretary

Tel: [phone]

 

END

 

 

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