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CQS Rig Finance Fund Limited (RIG)

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Wednesday 21 March, 2012

CQS Rig Finance Fund Limited

CQS Rig Finance Fund Ltd : Result of EGM

CQS Rig Finance Fund Ltd : Result of EGM

For immediate release on 21 March 2012

(the "Company")

Result of Requisitioned EGM

The Board of CQS Rig Finance Fund Limited ("CQS" or the "Company") announces that at the EGM held earlier today, convened following a requisition from Ironsides Partners Opportunity Master Fund LP ("Ironsides"), a holder of in excess of one tenth of the issued share capital of the Company, Shareholders voted against the Requisitioned Resolution on a poll.

The Board is pleased that the overwhelming majority of Shareholders voting supported the Board's position at the Requisitioned EGM, with only 171,742 shares (representing 0.18 per cent. of the issued share capital) voting in favour of the Requisitioned Resolution in addition to the shares voted by Ironsides.

A summary of the votes cast in respect of the Requisitioned Resolution proposed at the EGM is set out below:

Votes in favour*Votes against*% of issued shares voting**
No. shares%No. shares%
Requisitioned Resolution 19,429,942 23.2 64,240,314 76.8 85.9


* The "in favour" and "against" votes, where appropriate, include those votes giving the Chairman discretion
**Total number of shares in issue amounted to 97,410,000

Terms used and not defined in this announcement bear the meaning given to them in the circular dated 29 February 2012.


Kleinwort Benson (Channel Islands) Fund Services Ltd  
Tel:  +44 (0)1481 710 607

Alastair Moreton/Hannah Young
NOMAD and Broker
Westhouse Securities Limited
Tel:  +44 (0)20 7601 6118

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(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: CQS Rig Finance Fund Ltd via Thomson Reuters ONE