BlueCrest BlueTrend Limited Conversion Notice (3567J)

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RNS Number : 3567J

BlueCrest BlueTrend Limited

01 July 2014

1 July 2014

BlueCrest BlueTrend Limited (the 'Company')

Conversion Notice

In accordance with the Prospectus of the Company issued on 13 July 2012, the Board has exercised its discretionary powers under the Company's Articles to permit conversions between classes of Ordinary Shares on a monthly basis. The following announcement sets out the expected conversion timetable for September 2014.

Such conversions will be on the basis of the ratio of the NAV of the class of Ordinary Shares to be converted (less the costs of effecting such conversion, including any redemption fee charged by BlueTrend Fund Limited ('BlueTrend Fund') and/or BlueTrend 2x Leveraged Fund Limited ('BlueTrend Leveraged Fund'), to the NAV of the class of Ordinary Shares into which such shares will be converted (each as at the relevant NAV Calculation Date, being the last Business Day of each calendar month or, if such date is a public holiday, the immediately preceding Business Day), and otherwise as set out in the Articles.

Shareholders may apply to convert Ordinary Shares of any class into Ordinary Shares of any other class as at a Conversion Day (being the first business day of each calendar month) by submitting: (i) in the case of Ordinary Shares held in certificated form, a completed conversion request form (available from the Company's website at www.bluecrestbluetrend.com or the Administrator) accompanied by any share certificates held in respect of such certificated Ordinary Shares; or (ii) in the case of Ordinary Shares held in uncertificated form (that is, in CREST), a USE instruction including the CREST information set out below, in each case to be received by the Company's Receiving Agent, Computershare Investor Services PLC (postal address: Computershare Priority Application, Corporate Actions, Bristol, BS99 6AJ) by not later than 12.00 noon on the business day falling at least 40 calendar days prior to the relevant Conversion Day.

Any conversion request form (in the case of Shares held in certificated form) or USE instruction (in the case of Shares held in uncertificated form) that is submitted or received after the relevant deadline will be rejected.

Shareholders who hold their Ordinary Shares in uncertificated form through CREST should submit their USE instruction using the CREST information provided below and by viewing the relevant corporate action details in CREST:

CREST PARTICIPANT ID - 3RA37

 
 MEMBER ACCOUNT CODE: 
 STERLING TO US DOLLAR   -   GBP2USD 
 US DOLLAR TO STERLING   -   USD2GBP 
 

In addition, Shareholders should note that fractions of Ordinary Shares arising on conversions will be rounded down and that the costs of conversion may be disproportionate to the value of the Ordinary Shares converted. Hence the aggregate Net Asset Value of those Ordinary Shares held after conversion may be less than before such conversion. Shareholders should also note that if they elect to convert Ordinary Shares (whether held in certificated or uncertificated form) they will be unable to deal in those Ordinary Shares during the period between giving notice of conversion and the actual date of conversion. Such notice, once given, shall be irrevocable without the consent of the Directors.

The Directors have the discretion not to operate the conversion facility with respect to any share class or across all share classes from time to time.

This notice is for information only. Any Shareholder who is in any doubt whether or not to convert any of their shares is recommended to contact an independent financial adviser.

Expected timetable:

 
 
 September 2014 Conversions 
 Relevant deadline: Latest date for              12.00 noon Wednesday 23 
  receipt of completed conversion forms                        July 2014 
  by the Company's Receiving Agent (with 
  accompanying share certificate where 
  shares are held in certificated form) 
 Conversion Day                                  Monday 1 September 2014 
 Expected Conversion Date                  8.00 a.m. Monday 15 September 
                                                                    2014 
 

Note:

The conversion facility will not be available: (i) to Shareholders whose conversion requests as at a Conversion Day would result in the remaining Shares in issue of the class being converted ceasing to meet the BlueTrend Minimum Holding* for the relevant class of shares in BlueTrend Fund or BlueTrend Leveraged Fund in which that class of Shares is invested; (ii) to Shareholders whose conversion requests would result in the Company acquiring less than: US$1,000,000, in the case of US$ Shares; GBP1,000,000, in the case of Sterling Shares; or EUR1,000,000, in the case of Euro shares in shares in BlueTrend Fund or BlueTrend Leveraged Fund pursuant to the conversion, provided that the Directors may waive such requirement at their discretion; (iii) during any period where there is a suspension of issues and redemptions of Shares by BlueTrend Fund and BlueTrend Leveraged Fund; and (iv) to Shareholders whose conversion requests would result in any class of Shares not complying with the public hands test set out in Listing Rule 9.2.15R.

* BlueTrend Minimum Holding means US$1,000,000 in the case of US$ shares in BlueTrend Fund and BlueTrend Leveraged Fund, EUR1,000,000 in the case of Euro shares in BlueTrend Fund and BlueTrend Leveraged Fund and GBP1,000,000 in the case of Sterling shares in BlueTrend Fund and BlueTrend Leveraged Fund, or such lesser amount as the directors of BlueTrend Fund or BlueTrend Leveraged Fund, as applicable, may in any particular case determine, provided that such amount is not less than US$100,000 or its equivalent in Euro or Sterling, as the case may be.

ISINs:

 
 Sterling      GG00B7MSX903 
  Shares: 
 US$ Shares:   GG00B73CPL70 
 

Enquiries & Conversion Request Forms:

 
 Kellie Blondel                                 Tel: [phone] 
  Dexion Capital (Guernsey) Limited    [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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