Recommended Acquisition - Scheme Effective (0061Y)

TIDMBBAY TIDM88DB

RNS Number : 0061Y

BlueBay Asset Management PLC

17 December 2010

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

RECOMMENDED ACQUISITION OF BLUEBAY ASSET MANAGEMENT PLC BY ROYAL BANK OF CANADA - SCHEME EFFECTIVE

On 18 October 2010, the boards of directors of BlueBay Asset Management plc ("BlueBay") and Royal Bank of Canada ("RBC") announced that they had reached agreement on the terms of a recommended cash acquisition by RBC of the entire issued and to be issued share capital of BlueBay at a price of 485 pence in cash for each BlueBay Share to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").

The board of BlueBay announces that, following delivery to the Registrar of Companies of an office copy of the Court order sanctioning the Scheme and confirming the associated reduction of capital and the related statement of capital, the Scheme has become effective.

Under the terms of the Scheme, holders of BlueBay Shares are entitled to receive 485 pence for each BlueBay Share held at the Scheme Record Time (6.00 p.m. on 16 December 2010). It is anticipated that the consideration will be dispatched on or prior to 31 December 2010.

An application has been made to the UK Listing Authority requesting the cancellation of listing of BlueBay Shares on the Official List and to London Stock Exchange Plc requesting the cancellation of trading of BlueBay Shares on the main market of the London Stock Exchange. The cancellation of listing of BlueBay Shares is expected to take place at 8.00 a.m. on 20 December 2010.

Unless the context otherwise requires, terms defined in the announcement dated 18 October 2010 have the same meaning in this announcement.

For further information:

BlueBay Asset Management plc:

Tel: [phone]

Hugh Willis, CEO

Nick Williams, CFO

Alex Khein, COO

Spencer House Partners LLP (joint financial adviser to BlueBay):

Tel: [phone]

Jeremy Sillem

Andrew Malcolm

Credit Suisse (joint financial adviser and corporate broker to BlueBay):

Tel: [phone]

John Hannaford (Corporate Broking)

Hamish Summerfield

Zachary Brech

Financial Dynamics (PR adviser to BlueBay):

Tel: [phone]

Nick Henderson

This announcement is not intended to, and does not, constitute or form part of an offer to sell, or otherwise dispose of, or constitute an invitation or the solicitation of an offer to purchase, subscribe for or otherwise acquire any securities or the solicitation of any vote or approval in any jurisdiction, pursuant to the Acquisition or otherwise.

Spencer House Partners LLP, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for BlueBay and for no one else in connection with the Acquisition and will not be responsible to any person other than BlueBay for providing the protections afforded to clients of Spencer House Partners LLP, nor for providing advice in relation to the Acquisition, the content of this announcement or any matter referred to herein. Neither Spencer House Partners LLP nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Spencer House Partners LLP in connection with this announcement, any statement contained herein or otherwise.

Credit Suisse Securities (Europe) Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for BlueBay and for no one else in connection with the Acquisition and will not be responsible to any person other than BlueBay for providing the protections afforded to clients of Credit Suisse, nor for providing advice in relation to the Acquisition, the content of this announcement or any matter referred to herein. Neither Credit Suisse nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Credit Suisse in connection with this announcement, any statement contained herein or otherwise.

Overseas jurisdictions

The distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and the availability of the Acquisition to BlueBay shareholders who are not resident in the UK may be affected by the laws of the relevant jurisdictions. Therefore any persons who are subject to the law of any jurisdiction other than the UK should inform themselves about, and observe, any applicable requirements.

This announcement has been prepared for the purposes of complying with English law and the Code and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside of England.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQEAFASFEPEFFF