Blue Capital Alternative Income Fd Result of Meeting (7714V)

TIDMBCAI

RNS Number : 7714V

Blue Capital Alternative Income Fd

25 July 2018

Blue Capital Alternative Income Fund Limited (the "Company") (Ticker: "BCAI")

Results of Special General Meeting and Liquidation of the Company

The board of directors of the Company (the "Board") announce the results of its special general meeting of shareholders held earlier today (the "Special General Meeting").

The resolutions regarding the liquidation of the Company proposed at the Special General Meeting were both passed on a poll. Accordingly, Mike Morrison and Mark Allitt of KPMG Advisory Limited have now been appointed as the joint liquidators of the Company with the power to wind up the Company's affairs and to realise and distribute its assets.

The Company will now make applications for the cancellations of the admission of its Ordinary Shares to trading on the Specialist Fund Segment of the London Stock Exchange and their listing on the Bermuda Stock Exchange, which cancellations are expected to take effect on 26 July 2018.

The Company received votes representing 78.6% of the Ordinary Shares in issue as at 25 July 2018. Details of the votes validly cast are set out below:

 
  Ordinary Resolutions                                                   For       Against      Vote 
                                                                                              Withheld* 
THAT: 
 (a) the Company be Wound Up voluntarily 
 pursuant to the provisions of the Companies 
 Act 1981, as amended (the "Act") and 
 Mike Morrison and Mark Allitt of KPMG 
 Advisory Limited, Crown House, 4 Par-la-Ville 
 Road, Hamilton HM 08 Bermuda be and 
 hereby are appointed as Liquidators 
 of the Company with the power to act 
 jointly or severally for the purpose 
 of such Winding Up with all powers 
 conferred on them by the Act, the Bye-laws 
 or by this Ordinary Resolution, such 
 appointment becoming effective on the 
 passing of this Ordinary Resolution; 
 and 
 (b) the remuneration of the Liquidators 
 be drawn in accordance with the letter 
 of engagement dated 22 June 2018, together 
 with the reimbursement of all reasonable 
 out of pocket expenses and disbursements 
 properly incurred in connection with 
 the Winding Up of the Company out of 
 the assets of the Company, be and hereby 
 are approved.                                                       134,714,458  3,177,471      0 
                                                                     ===========  =========  ========== 
                       THAT, conditional on the approval of 
                        the Winding Up Resolution, the Liquidators 
                        are hereby authorised to: (a) divide 
                        among the Shareholders in specie or 
                        in kind the whole or any part of the 
                        assets of the Company; and (b) vest 
                        the whole or any part of the assets 
                        of the Company in trustees upon such 
                        trust for the benefit of the Shareholders, 
                        in each case in accordance with the 
                        Bye-laws and as the Liquidators think 
                        fit, provided that, in each case, such 
                        authorisation shall be exercised in 
                        accordance with the Act, and any other 
                        Bermuda statute or law which applies 
                        to the Winding Up of the Company ("Bermuda 
                        Insolvency Law") and provided further 
                        that, in the event of conflict between 
                        the authorisation provided under this 
                        Ordinary Resolution and Bermuda Insolvency 
                        Law, the requirements under Bermuda 
                        Insolvency Law shall prevail.                134,714,458  3,177,471      0 
                                                                     ===========  =========  ==========

* A Vote Withheld is not a vote in law and is not counted in the proportion of votes 'for' or 'against' a resolution.

Enquiries:

Company Website: www.bcai.bm.

Mike Morrison and Mark Allitt

KPMG Advisory Limited

Crown House,

4 Par-la-Ville Road,

Hamilton HM 08 Bermuda

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July 25, 2018 10:18 ET (14:18 GMT)

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